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Q2 2011 EARNINGS CALL – North Energy

North Energy · Aug 18, 2011 · 22 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. Q2 2011 EARNINGS CALL – North Energy – slide 1
    North Energy Q2 2011 18 August 2011
  2. Q2 2011 EARNINGS CALL – 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. Q2 2011 EARNINGS CALL – North Energy – slide 3
    Agenda Highlights Q2 Exploration update Financials Outlook North Energy ASA, Markedsgata 3, Alta, Norway. 3 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  4. Q2 2011 EARNINGS CALL – North Energy – slide 4
    Highlights Q2 Discovery in Norvarg Gas discovery in three different intervals Successful production test in the Kobbe formation Promising volume estimates Further expansion of 2011 drill program 15% acquired in the Storebjrn…
  5. Q2 2011 EARNINGS CALL – North Energy – slide 5
    Norvarg significant gas discovery in the Barents Sea Movable gas encountered in three levels Operators first volume estimate: 10-50 BCM (63-315 mmboe) Successful production test Rates of 180.000 Sm3/ day from one vertical well…
  6. Q2 2011 EARNINGS CALL – North Energy – slide 6
    Norvarg positive implications for North Energy and the region Breakthrough production test in the Triassic in the Barents Sea Increasing chances of finding good Kobbe reservoirs Increasing attractiveness of exploration in the…
  7. Q2 2011 EARNINGS CALL – North Energy – slide 7
    Storebjrn farm-in high PoS oil prospect PL 450 Storebjrn in the North Sea Acquired 2011 Main prospect Storebjrn Operator Det Norske* (60%) Hydrocarbons Oil Partners North Energy* (15%) Expected drilling Q1 2012 Dana (25%) Prob. of…
  8. Q2 2011 EARNINGS CALL – North Energy – slide 8
    Agenda Highlights Q2 Exploration update Financials Outlook North Energy ASA, Markedsgata 3, Alta, Norway. 8 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  9. Q2 2011 EARNINGS CALL – North Energy – slide 9
    Exploration track record and outlook mmboe 120 110 100 90 80 70 60 50 40 30 20 10 0 Fogelberg Stirby Norvarg Heilo Zapffe Storebjrn Jette Kakelborg Skagen Scarecrow * Net unrisked pre-drill volume (completed wells)…
  10. Q2 2011 EARNINGS CALL – North Energy – slide 10
    Successful gas exploration until now North Energy has encountered gas in Volume, MCM o.e. Permeability, mD all of its three exploration wells Logarithmic scale Logarithmic scale 10,000 10,000 Commerciality depends to a large extent…
  11. Q2 2011 EARNINGS CALL – North Energy – slide 11
    Moving into oil exploration in H2 2011 and 2012 In second half of 2011 and into 2012, Volume, MCM o.e. Permeability, mD North Energy will test three oil Logarithmic scale Logarithmic scale prospects 10,000 10,000 Heilo is expected…
  12. Q2 2011 EARNINGS CALL – North Energy – slide 12
    PL 530 Heilo high-impact well spud Sep 2011 PL 530 in the Barents Sea Awarded 20th round (2009) Main prospect Heilo Operator GDF Suez (30%) Hydrocarbons Oil w/gas cap Partners North Energy (20%) Expected drilling Q3 2011 Front…
  13. Q2 2011 EARNINGS CALL – North Energy – slide 13
    PL 518 Zapffe third high-impact well in 2011 PL 518 and PL 518B in the Barents Sea Awarded APA 2008 Main prospect Zapffe Operator DONG (40%) Hydrocarbons Oil Partners North Energy (30%) Expected drilling Q4 2011 Front Exploration…
  14. Q2 2011 EARNINGS CALL – North Energy – slide 14
    PL 370/PL370B Kakelborg- drilling in Q1/2012 PL 370 / PL370B Kakelborg in the North Sea Acquired 2011 Main prospect Kakelborg Operator Wintershall (40%) Hydrocarbons Oil Partners North Energy (10%) Expected drilling Q1 2012 Agora…
  15. Q2 2011 EARNINGS CALL – North Energy – slide 15
    Drilling program with timing uncertainties in 2012 Heilo Zapffe Storebjrn Jette Kakelborg Skagen Scarecrow 2011 I 2012 Possible Oil appraisal oil Gas-Condensate North Energy ASA, Markedsgata 3, Alta, Norway. 15 Phone:…
  16. Q2 2011 EARNINGS CALL – North Energy – slide 16
    Agenda Highlights Q2 Exploration update Financials Outlook North Energy ASA, Markedsgata 3, Alta, Norway. 16 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  17. Q2 2011 EARNINGS CALL – North Energy – slide 17
    North Energy ASA Profit & Loss 2Q 2Q Year 1Q MNOK 2011 2010 2010 2011 Payroll 15.9 12.6 62.1 18.8 Growth in exploration staff Depreciation 1.7 1.1 4.6 1.5 Exploration expenses 20.1 17.8 179.0 7.4 Growth in portfolio Other operating…
  18. Q2 2011 EARNINGS CALL – North Energy – slide 18
    North Energy ASA - Balance sheet 2Q Year end Year end MNOK 2011 2010 2009 Assets Fixed Assets 295.4 161.9 32.6 Capitalized drilling cost Fogelberg/Norvarg Long term receivables 160.4 0.0 0.0 Short term receivables 396.3 385.5…
  19. Q2 2011 EARNINGS CALL – North Energy – slide 19
    Solid financial position Net cash position as of Q2 2011 Net cash position of NOK 330 million 74 Unused exploration 160 loan facility of NOK 140 620 million 330 Developing in line 351 with funding plans at the IPO 33…
  20. Q2 2011 EARNINGS CALL – North Energy – slide 20
    Agenda Highlights Q2 Exploration update Financials Outlook North Energy ASA, Markedsgata 3, Alta, Norway. 20 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  21. Q2 2011 EARNINGS CALL – North Energy – slide 21
    Outlook 6 months outlook Heilo exploration well in the Barents Sea + possible sidestep Zapffe exploration well in the Barents Sea + possible sidestep Storebjrn exploration well in North Sea Decision to continue towards PDO or…
  22. Q2 2011 EARNINGS CALL – North Energy – slide 22
    Thank you for your attention North Energy ASA, Markedsgata 3, Alta, Norway. 22 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no

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