Vår Energi shares jumped 3% at the open on the Oslo Stock Exchange, lifting the main index by 0.3% on Tuesday.
The rally follows the company’s announcement of a new acquisition and a strengthened dividend policy, which have energized investors in the energy sector.
Brent crude was trading at $88.4 a barrel shortly before the market opened, down roughly 0.5% from Monday’s close.
Despite the softness in oil prices, the positive corporate developments at Vår Energi provided enough momentum to push the broader market into positive territory early in the session.
The move extends a period of heightened activity on the Oslo exchange, where investor sentiment has been buoyed by strong corporate news.
Earlier, shares of Eqva also traded sharply higher following a new contract award, contributing to a broader lift in sentiment among Norwegian-listed companies.