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PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy

North Energy · Sep 10, 2014 · 27 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 OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 1
    Pareto Oil & Offshore Conference 2014 North Energy Oslo, 10 - 11 September 2014
  2. PARETO OIL AND OFFSHORE CONFERENCE 2014 – 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 is…
  3. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 3
    Agenda North Energy in brief Increased technology focus Well programme Ongoing Pingvin well in PL 713 Financials Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  4. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 4
    North Energy Pure exploration exposure to the attractive Norwegian Continental Shelf The northernmost oil and gas Portfolio development ( of licences) company Headquartered in Alta in Finnmark, 24 northern Norway Listed on Oslo…
  5. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 5
    Agenda North Energy in brief Increased technology focus Well programme Ongoing Pingvin well in PL 713 Financials Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  6. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 6
    Find commercial oil early Maintain unique Barents Sea position Main exploration focus in the Barents based on unique G&G know-how Explore where competitive edge is sharpest EM and Geophysical competence to play in tune with existing…
  7. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 7
    Agenda North Energy in brief Increased technology focus Well programme Ongoing Pingvin well in PL 713 Financials Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  8. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 8
    Firm wells In the Barents Sea PL 708 PL 713 In the Norwegian Sea PL 510 PL 591 In the North Sea PL 616 * Some license shares are subject to final government approval North Energy ASA postnorthenergy.no (+47) 78 60 79…
  9. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 9
    Firm wells 2014 2015 Prospect WI Operator Q3 Q4 Q1 Q2 Q3 Q4 PL 713 20 % Statoil PL 708 10 % Lundin PL 510 20 % Maersk PL 591 15 % Tullow Oil PL 616 5% Edison Gas/Condensate PL 713: 250 mmboe POS 46% (20% at well) PL 708:…
  10. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 10
    PL 708 rnen PL 708 in the Barents Sea Awarded 22. round Main prospect Seiland East/rnen North Operator Lundin (40%) Hydrocarbons Oil Partners North Energy (10%) Expected drilling Q1 2015 Edison (20%) Reservoir Upper Permian Lukoil…
  11. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 11
    PL 708 - RVD response and seismic data TIME MAP MSEC North Energy ASA, Markveien 38b, Postboks 1243,9504 Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  12. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 12
    PL 510 Gas prospect from the old portfolio PL 510 in the Norwegian Sea Awarded APA 2008 Main prospect Tvillingen South Operator Maersk (50%) Hydrocarbons Gas Condensate Partners North Energy (20%) Expected drilling Q1 2015 Edison…
  13. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 13
    PL 510 Likely drilling sequence Tvillingen Sr Tvillingen Nord + test Breitind + test Phase 1 Development Botnkrona (or other) + test Add to existing development Recoverable resources, mmboe and POS by operator Ranking Prospect…
  14. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 14
    PL 591 Farm-in well next to Heidrun PL 591 in the Norwegian Sea Awarded APA 2011 Main prospect Zumba Operator Tullow (80%) Hydrocarbons Oil (volumes calculated as gas) Partners North Energy (15%) Expected drilling Q2 2015 Lime…
  15. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 15
    PL 616 Haribo well close to Hod PL 616 in the North Sea Awarded APA 2011 Main prospect Haribo Operator Edison (25%) Hydrocarbons Oil Partners Concedo (20%) Expected drilling Q3 2015 Noreco (30%) Reservoir Narve Skagen44 (15%)…
  16. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 16
    Agenda North Energy in brief Increased technology focus Well programme Ongoing Pingvin well in PL 713 Financials Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  17. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 17
    Ongoing well PL 713 Pingvin 7319/12-1 Testing sandstone prospect with same HC source as Johan Castberg 2-300 million barrels OE potential High POS (46%) for HC in anomaly Major uncertanties Well location Reservoir quality HC…
  18. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 18
    Media comments GEO 365 Well location outside EM anomaly used as evidence for dry well Hesthammer, CEO of Atlantic Petroleum and professor at University of Bergen is convinced Reality is more complicated Location chosen to…
  19. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 19
    Different HC scenarios Well Well Gas over Oil Gas over Water + A B Oil over Water Gas over Residual gas - C D North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  20. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 20
    North has used the complete toolbox on Pingvin EM Low Frequency analyses RVD (Rex Virtual Drilling) NELFA (Internal North) ADF (Apex Houston) All studies indicates HCs and low well location EM anomaly RVD and Nelfa anomaly ADF…
  21. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 21
    Pingvin Summary Well aim at testing maximum ADF anomaly potential Oil in this location means high probability of commercial discovery North believes traces of HC and/or less than average reservoir is most likely Still…
  22. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 22
    Agenda North Energy in brief Increased technology focus Well programme Upcoming Pingvin well in PL 713 Financials Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  23. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 23
    Financial status strengthened through transactions in 2014 NOK 285 million raised in a Current New industrial New financial shareholders shareholders shareholders private placement in Q1 2014. Main contributors: Current shareholders…
  24. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 24
    Fully funded drilling campaign Q2 2014 net cash Well Timing Status position of NOK 357 million Well 1-5 2014-15 Firm wells Financed Unused convertible DoD/Farm loan facility of NOK Well 6-8 2015-16 ins Financed 56 278 million…
  25. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 25
    Agenda North Energy in brief Increased technology focus Well programme Upcoming Pingvin well in PL 713 Financials Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  26. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 26
    Outlook 3 months Exploration well PL 713 Ongoing PL 484 evaluation 12 months Exploration well on PL 708 Exploration well on PL 510 Exploration well on PL 591/591B Exploration well on PL 616 6-8 DoD decisions Awards APA 2014…
  27. PARETO OIL AND OFFSHORE CONFERENCE 2014 – North Energy – slide 27
    Q&A North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no

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