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PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy

North Energy · Sep 1, 2010 · 29 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. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 1
    North Energy ASA at Pareto Securities Oil & Offshore Conference 1 September 2010
  2. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 2
    Important information This presentation and its appendices (together the Presentation) have been prepared and delivered by North Energy ASA (North Energy or the Company). The Presentation is prepared for information purposes only, and…
  3. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 3
    Agenda Fogelberg update Stirby farm-in Exploration programme Financials Outlook North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  4. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 4
    PL 433: Fogelberg discovery PL 433 in the Norwegian Sea Fogelberg, likely single template development PL 433 Discovery 2009. Acquired 2009 Discovery Fogelberg (5,7-14,4 mill. Sm3) Potential one template Operator Centrica (28%)…
  5. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 5
    PL 433: Previously disclosed information In April, North Energy and its partners in PL 433 confirmed that well 6506/9-2S had found gas and condensate in two productive reservoir formations The well was successfully drilled with the…
  6. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 6
    PL 433: Commerciality Evaluations in second quarter have confirmed the early volume estimates Content of condensate and CO2 in the gas is similar to other discoveries and fields in the area North Energys evaluations gives positive…
  7. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 7
    PL 433: Likely development solution The most likely development solution for Fogelberg consists of: 2-3 gas producers drilled from one subsea template Tie-back to sgard B platform (20 km east of Fogelberg) Gas processing at sgard B…
  8. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 8
    PL 433: Growing pool of undeveloped gas supporting new gas export line More than 200 billion Sm3 of gas in the Haltenbanken area without identified gas export options Gro 38 billion Sm3 Asterix 15 billion Sm3 Luva 53 billion Sm3…
  9. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 9
    PL 433: Considerations regarding appraisal Volume range is well understood based on data from the exploration well Commerciality is established also in the lower range of volume estimates The largest uncertainty in the present…
  10. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 10
    PL 433: Next steps Work will continue in the license on several areas Specialist analysis of fluids and core data (not expected to impact volumes) Further evaluation of gas export options Commerciality to be established in the…
  11. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 11
    Agenda Fogelberg update Stirby farm-in Exploration programme Financials Outlook North Energy ASA, Markedsgata 3, Alta, Norway. 11 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  12. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 12
    Lisens nummer 14, Stirby, kjpt i forrige uke Operator: Det Norske Oljeselskap (30%) Partners: Wintershall (20%) Marathon (12%) North Energy (11%) Gaz De France (10%) Bayerngas (10%) Talisman (7%) Farm-in at spud date Prospect with…
  13. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 13
    PL 341: Stirby farm-in North Energy farms into 11% of the PL 341 Stirby well from Talisman In line with North Energys strategy Promising POS and volumes Close to infrastructure Attractive terms Prospect quality and attractiveness…
  14. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 14
    PL 341: Location map PL 341 Stirby Alvheim PL 341 Stirby Gudrun East Brae Gudrun Sleipner Sleipner Vest North Energy ASA, Markedsgata 3, Alta, Norway. 14 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  15. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 15
    PL 341: Attractive prospect Moderate HPHT gas/cond. prospect PL 341 in North Sea 30% Probability of Success Awarded APA 2004 Main prospect Upper Stirby 97 mill. boe in main prospect (unrisked) Expiry December 2012 Hydrocarbon type…
  16. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 16
    North Energys strategy is to focus on basins at the right time og maturity Discovery rates and sizes Mid/golden phase Norwegian Sea The Norwegian Sea is in its golden phase of Early phase Mid phase exploration where the North Sea was in…
  17. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 17
    Agenda Fogelberg update Stirby farm-in Exploration programme Financials Outlook 17 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  18. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 18
    Exciting 18 months outlook with 5 firm wildcat wells to be drilled 18 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  19. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 19
    Risked resources for the next financed 8 wells of North Energy from 2010-2012 120 100 Risked resourses mill boe 80 60 40 20 0 Fogelberg Stirby Jette Heilo Tana Norvarg Doroty Vgar 2010 2010 2011 2011 2011 2011 2012…
  20. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 20
    Agenda Fogelberg update Stirby farm-in Exploration programme Financials Outlook 20 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  21. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 21
    Solid financial situation Cash balance of NOK 172 million Expected tax reimbursement of NOK 303 million No interest bearing debt Net cash position of NOK 474 million NOK 300 million exploration loan facility with SEB fully…
  22. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 22
    Agenda Fogelberg update Stirby farm-in Exploration programme Financials Outlook 22 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  23. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 23
    Outlook 6 months outlook Drilling of PL 341 Stirby APA 2010 licensing round 18 months outlook 21st ordinary licensing round Jette exploration well in the Norwegian Sea Three well drilling campaign in the Barents Sea Further…
  24. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 24
    North Energy has a positive long outlook on oil price, but calculate at 70 USD today For every barrel of oil we discover in the world in 2009, we consume three Oil production is already dropping in 60 producing countries At a…
  25. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 25
    The largest discoveries are made in Northern areas Discoveries on the NCS since 2000 Largest potential north of 62N All five largest discoveries on the NCS since 20 largest discoveries on the NCS since 2000 2000 have been made north of…
  26. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 26
    North Energys three focus areas Phase 1 First rate blocks close to Goliat (Pl 518, 530) in the Barents Sea and likely wells close to Aasgard and Norne outside Helgeland 3 Phase 2 When Lofoten and Vesterlen 1 is opened (2013 2015) R23…
  27. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 27
    North Energy will now be represented in the growth regions of the three northern counties The North of Norway is in rapid change Strong centralization is taking place and three centers are Alta Troms developing in the three…
  28. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 28
    Actively participating in the Lofoten/Vesterlen and Eastern Barents Sea discussions 28 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  29. PARETO SECURITIES OIL AND OFFSHORE CONFERENCE – North Energy – slide 29
    We will be in the North before, during and after the activity of the oil and gas business. North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…

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