Skip to main content FOURTH QUARTER 2009 – Dno International Asa Investor Presentation | Shale Experts
Loading...
Pm

FOURTH QUARTER 2009 – Dno International Asa

Dno International Asa · Feb 1, 2010 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. FOURTH QUARTER 2009 – Dno International Asa – slide 1
    DNO INTERNATIONAL ASA Fourth Quarter 2009
  2. FOURTH QUARTER 2009 – Dno International Asa – slide 2
    Agenda Highlights and Operational Review Helge Eide, Managing Director Financial Review Haakon Sandborg, CFO Q&A Fourth Quarter 2009 2
  3. FOURTH QUARTER 2009 – Dno International Asa – slide 3
    Operational highlights 2009 DNOs average WI production was 13,500 bopd in Q4 and 21,500 bopd in 2009 Passed another important milestone with commencement of export from Tawke Bayoot development completed with steadily increasing…
  4. FOURTH QUARTER 2009 – Dno International Asa – slide 4
    Financial highlights 2009 Revenue from exported crude oil from Tawke is not recorded in 2009 and accounts re-stated (ref. accounting standard IAS 18) Revenue in 2009 was NOK 869 million, with a EBITDA of NOK 122 million and a netback…
  5. FOURTH QUARTER 2009 – Dno International Asa – slide 5
  6. FOURTH QUARTER 2009 – Dno International Asa – slide 6
    Average WI production Quarterly WI production Annual WI production Q4 2009 Kurdistan local: 5,926 bopd 25,000 25,000 Kurdistan Yemen Exports Kurdistan Yemen Yemen: 7,655 bopd 20,000 20,000 Total: 13,581 bopd FY 2009 15,000…
  7. FOURTH QUARTER 2009 – Dno International Asa – slide 7
    Annual nancial highlights Sales EBITDAX Netback Before restatement Full effect of exports Full effect of exports Before restatement Before restatement 2000 1200 1000 1,112 1,071 1800 1,719 900 867 974 1000 1600 800 1,376 810…
  8. FOURTH QUARTER 2009 – Dno International Asa – slide 8
    Operations Det norske oljeselskap ASA PL1067 Tawke Benenan (Hawler) Dohuk Sharyoof Tasour Nabrajah Bayoot Block 32, 43, 47, 52, 53, 72 and 84 Block P Inhaminga Fourth Quarter 2009 8
  9. FOURTH QUARTER 2009 – Dno International Asa – slide 9
    HSE Summary Continued positive trend through Q409 HSE performance trends No serious incidents year to date 4.5 Lost Time Incident Frequency* 4 Vehicle Incident Frequency* Total Recordable Incident Frequency* 3.5 KPIs by end of fourth…
  10. FOURTH QUARTER 2009 – Dno International Asa – slide 10
  11. FOURTH QUARTER 2009 – Dno International Asa – slide 11
  12. FOURTH QUARTER 2009 – Dno International Asa – slide 12
    Nabrajah-10S2 horizontal section projected on Oslo Dlenenga Akersberget Oslo Concert Hall Fourth Quarter 2009 12
  13. FOURTH QUARTER 2009 – Dno International Asa – slide 13
  14. FOURTH QUARTER 2009 – Dno International Asa – slide 14
    Sharnah/Yaalen (Block 47): New possible fast-track development BLOCK 47 Leads&Prospects Oil Discovery Summary Total resource potential of 10 million Sharna barrels Re-evaluation undertaken in 2009 Yaalen-3 appraisal well planned…
  15. FOURTH QUARTER 2009 – Dno International Asa – slide 15
    Yemen (BL72): Basement lead Basement lead Basement fault blocks with possibilities for oil trapped in fractured basement mapped on 3D seismic The block 72 basement leads are located in a similar structural Bayoot Field position to…
  16. FOURTH QUARTER 2009 – Dno International Asa – slide 16
  17. FOURTH QUARTER 2009 – Dno International Asa – slide 17
    Tawke Production Monthly production since start-up 60,000 Export Local sales 50,000 40,000 bopd 30,000 20,000 10,000 0 Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Fourth Quarter 2009 17
  18. FOURTH QUARTER 2009 – Dno International Asa – slide 18
    Kurdistan (Erbil): Benenan Discovery Benenan was discovered by Hawler-1 in 2007 and appraised by Erbil-2 in 2008 Hydrocarbons in several reservoirs 3D seismic acquired post drilling Benenan is a complex structure with high Hawler-1…
  19. FOURTH QUARTER 2009 – Dno International Asa – slide 19
    Kurdistan leads/prospects Tawke Dohuk Peshkabir The 2010 license work program is to fullll the remaining two well work commitment Prospect evaluation ongoing Final decision on drilling at Dohuk in Q1/2010 Fourth…
  20. FOURTH QUARTER 2009 – Dno International Asa – slide 20
    Kurdistan (Dohuk): Summail lead/prospect Fourth Quarter 2009 20
  21. FOURTH QUARTER 2009 – Dno International Asa – slide 21
  22. FOURTH QUARTER 2009 – Dno International Asa – slide 22
  23. FOURTH QUARTER 2009 – Dno International Asa – slide 23
    Planned and contingent activities in 2010 Exploration and appraisal Yemen BL 47, Yaalen-3 activities Yemen BL 52, Harad-2 (Commitment well) Kurdistan Dohuk PSC, Summail-1 (Commitment well) Kurdistan Tawke PSC, Peshkabir-1 (Commitment…
  24. FOURTH QUARTER 2009 – Dno International Asa – slide 24
    FINANCIALS
  25. FOURTH QUARTER 2009 – Dno International Asa – slide 25
    Financial summary 2009 Annual key nancials Firm E&P strategy Revenues Increased production from delivery of initial 2000 crude exports from Tawke eld in Kurdistan Exploration Expensed Operating Prot Development activity supports…
  26. FOURTH QUARTER 2009 – Dno International Asa – slide 26
    Special items Q4 2009 Export revenues - Kurdistan Based on PSC, revenues estimated and included in Q2-Q3 2009 interim nancials Q2: NOK 135 million Q3: NOK 714 million Uncertainty related to timing of payment and pricing Provision of…
  27. FOURTH QUARTER 2009 – Dno International Asa – slide 27
    Special items Q4 2009 Other cost provisions Provision for potential arbitration liability recorded in preliminary Q4 gures, based on experts advice DETNOR accounting effects Below 20 percent the DETNOR investment is considered an AFS…
  28. FOURTH QUARTER 2009 – Dno International Asa – slide 28
    Key gures NOK million 2009 2008 Operating revenues 869 1,376 Cost of goods sold -659 -746 Other costs and provisions -389 -622 Net nance 207 -699 Income tax expense -298 -214 Net prot -270 -904 Netback 30 255 Fourth Quarter…
  29. FOURTH QUARTER 2009 – Dno International Asa – slide 29
    Quarterly nancials Sales EBITDAX Netback Before restatement Full effect of exports Full effect of exports Before restatement Before restatement 1000 950 1000 800 718 807 800 600 800 600 400 NOK million NOK million…
  30. FOURTH QUARTER 2009 – Dno International Asa – slide 30
    Condensed income statement NOK million Q4 2009 Q3 2009 Q4 2008 2009 2008 Sales 225,9 235.5 217.3 869.0 1,376.2 Cost of goods sold -135.8 -149.3 -198.7 -659.3 -745.5 Gross prot 90.2 86.1 18.6 209.7 630.7 Dry well cost expensed 1.2 -44.0…
  31. FOURTH QUARTER 2009 – Dno International Asa – slide 31
    Cost of Goods Sold Lifting cost Lifting cost per barrel Yemen Kurdistan Yemen Kurdistan 150 20 15 100 USD/barrel NOK million 10 50 5 0 0 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4…
  32. FOURTH QUARTER 2009 – Dno International Asa – slide 32
    Cash ow statement NOK million Q4 2009 Q3 2009 Q4 2008 2009 2008 Prot from operations before exploration -60.1 31.9 -184.8 -23.2 365.7 Exploration expenses -15.1 -60.5 -112.7 -155.8 -356.8 Taxes paid, DDA, other -39.6 129.2 526.0 126.3…
  33. FOURTH QUARTER 2009 – Dno International Asa – slide 33
    Exploration activity Exploration expensed per segment Expensed exploration in 2009 120 Yemen Down 56% from 2008, as guided Kurdistan 100 Africa Primarily expenses from activity in Yemen Expensed seismic in block 47 in Q1 80 Dry…
  34. FOURTH QUARTER 2009 – Dno International Asa – slide 34
    Capital expenditure CAPEX per segment Capex in 2009 Yemen Kurdistan Africa WPP Substantial reduction from 2008, as guided 600 Ongoing development work in Yemen 500 Bayoot eld development Inll drilling on Tasour, Bayoot and…
  35. FOURTH QUARTER 2009 – Dno International Asa – slide 35
    2010 CAPEX Guiding Total investment per activity Plan for 2010 1800 WPP Planned investments Exploration Development CAPEX NOK 130 million 1600 Development Exploration NOK 230 million 1400 Contingent additional investments…
  36. FOURTH QUARTER 2009 – Dno International Asa – slide 36
    Capital structure Assets Equity and liabilities 6000 Non-current assets Cash and cash equivalents 6000 Shareholders equity Non-current liabilities Other current assets Current liabilities 5000 5000 4000 4000 Cash: Net debt to…
  37. FOURTH QUARTER 2009 – Dno International Asa – slide 37
    Shareholder matters Geographic distribution Shareholder categories Norway 100% Rest of World 100% Other 15.927 Norwegian 4% 8% shareholders holding 51,6 Sweden 11 % 90% 4% 90% 5% Company related percent Luxembourg 80% 5% 80% 9%…
  38. FOURTH QUARTER 2009 – Dno International Asa – slide 38
    Outlook 2010 - balanced work program Value creation in all phases Stepping up exploration drilling in all business units Continue successful development activity in Yemen, well test in Kurdistan Production increase upon resolution of…
  39. FOURTH QUARTER 2009 – Dno International Asa – slide 39
    FIRST QUARTER 2010: 11 MAY 201O WELCOME BACK

From the store

Browse maps, data & reports in the Shale Experts store