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4Q 2013 RESULTS – Atlantic Petroleum

Atlantic Petroleum · Mar 14, 2014 · 20 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. 4Q 2013 RESULTS – Atlantic Petroleum – slide 1
    WEBCAST PRESENTATION 14th MARCH 2014 4Q 2013 RESULTS
  2. 4Q 2013 RESULTS – Atlantic Petroleum – slide 2
    WEBCAST PRESENTATION 14TH MARCH 2014 4Q 2013 PERFORMANCE
  3. 4Q 2013 RESULTS – Atlantic Petroleum – slide 3
    RESERVES (CPR NUMBERS) MMBoe 60 Reserves 50 Contingent resources Prospective resources 40 30 20 10 0 2009 2010 2011 2012 2013 WEBCAST PRESENTATION 14th MARCH 2014
  4. 4Q 2013 RESULTS – Atlantic Petroleum – slide 4
    SIGNIFICANT ACHIEVEMENTS IN 2013 Successful completed acquisition of 25% working interest in UK licences P1606 and P1607 containing the development assets Orlando and Kells. Orlando development was approved by DECC in 2013. UK 27th…
  5. 4Q 2013 RESULTS – Atlantic Petroleum – slide 5
    PRODUCTION Boepd 3000 2500 2000 1500 1000 500 0 2009 2010 2011 2012 2013 WEBCAST PRESENTATION 14th MARCH 2014
  6. 4Q 2013 RESULTS – Atlantic Petroleum – slide 6
    EXCELLENT CHESTNUT PERFORMANCE Production has increased over the last three years due to opening of the chokes Water Cut has stabilised just below 50% Ultimate Remaining Reserves (URR) have consistently increased over field life…
  7. 4Q 2013 RESULTS – Atlantic Petroleum – slide 7
    INCOME STATEMENT 4Q 2013 DKK MM 4Q 2013 Revenue 89.1 Cost of sales -63.2 Gross profit 26.0 Exploration expenses -5.8 Pre-licence exploration cost -2.4 General and administration cost -16.4 Operating profit 1.2 Interest…
  8. 4Q 2013 RESULTS – Atlantic Petroleum – slide 8
    INCOME STATEMENT 2013 DKK MM 2013 2012 Revenue 417.4 596.7 Cost of sales -221.8 -274.9 Gross profit 195.7 321.9 Exploration expenses -119.6 -27.2 Pre-licence exploration cost -11.1 -8.0 General and administration cost -66.6…
  9. 4Q 2013 RESULTS – Atlantic Petroleum – slide 9
    BALANCE SHEET AND CASH FLOW 2013 Balance sheet DKK MM 2013 2012 Total assets 1,237.2 1,121.8 Cash and cash equivalents 184.6 242.5 Equity 597.3 537.1 Bank debt 103.1 78.0 Long term 44.6 19.5 Short term 58.5 58.5 Cash flow DKK MM 2013…
  10. 4Q 2013 RESULTS – Atlantic Petroleum – slide 10
    2014 TARGETS Estimated 2014 Opex: DKK 155MM Estimated 2014 Capex: DKK 135MM WEBCAST PRESENTATION 14th MARCH 2014
  11. 4Q 2013 RESULTS – Atlantic Petroleum – slide 11
    YEAR END 2013 SHAREHOLDER DISTRIBUTION Unregistered 1.57% Rest of the World 20.06% Institutional 32% Denmark (2012: 22%) 39.66% Norway 17.58% Non- institutional 68% (2012: 78%) Faroe Islands 21.13% WEBCAST…
  12. 4Q 2013 RESULTS – Atlantic Petroleum – slide 12
    NCS PORTFOLIO GROWTH Atlantic Petroleum will grow its portfolio through licensing rounds and farm ins. The company was awarded two new licenses in the latest APA 2013 round, both near existing fields and discoveries. PL659 In…
  13. 4Q 2013 RESULTS – Atlantic Petroleum – slide 13
    PL 659 BARENTS SEA - LANGLITINDEN Blocks 7221/12, 7222/10,11,12, and parts of 7121/3, 7122/1,2 Det Norske 20% (Op), Petoro 30%, Lundin 20%, Tullow 15%, Langlitinden oil discovery Rocksource 5%, Atlantic 10% Caurus gas Well 7222/11-2…
  14. 4Q 2013 RESULTS – Atlantic Petroleum – slide 14
    PL528/528B NORWEGIAN SEA - IVORY Blocks 6707/8,9,11 and 6707/10 (part) Centrica 40% (Op.), Statoil 35%, Rocksource *20% (10-25%) Atlantic *5% (5-15%) Gross recoverable resources up to 306 mmboe Gas prone area with possibility for…
  15. 4Q 2013 RESULTS – Atlantic Petroleum – slide 15
    CAPTURING ACREAGE CLOSE TO NEAR-FUTURE INFRASTRUCTURE Following up with our strategy to capture good quality exploration acreage close to near-future infrastructure, we recently secured the PL763 license (APA 2013 award). PL 763…
  16. 4Q 2013 RESULTS – Atlantic Petroleum – slide 16
    FAROES L006 - BRUGDAN JV partners & equities: Statoil (operator) 35% ExxonMobil 49% OMV 15% Atlantic Petroleum 1% Area: Faroe Shetland Basin Extremely large four way dip closure with prognosed Palaeocene Vaila Formation…
  17. 4Q 2013 RESULTS – Atlantic Petroleum – slide 17
    UK P1724 - PEGASUS JV partners & equities: Centrica (operator) 55% Viking UK Gas (Third Energy) 35% Atlantic Petroleum (Volantis) 10% Area: Southern North Sea, close to Cavendish Field Intra-Carboniferous structures, reservoirs…
  18. 4Q 2013 RESULTS – Atlantic Petroleum – slide 18
    EXPLORATION PORTFOLIO (4 YEAR PROJECTION) 300 250 200 mm boe 150 100 net resources net risked resources 50 0 2014 2015 2016 2017 WEBCAST PRESENTATION 14th MARCH 2014 19
  19. 4Q 2013 RESULTS – Atlantic Petroleum – slide 19
    2014 ACTIVITY OUTLOOK 2014 LICENCE 1Q 2Q 3Q 4Q UK P1724 Pegasus West (Committed) Exploration well Exploration PL528 Ivory (Committed) Exploration well Norway PL659 Langlitinden (Committed) Exploration well Faroe…
  20. 4Q 2013 RESULTS – Atlantic Petroleum – slide 20
    CONTACT Headquarters, Faroe Islands P/F Atlantic Petroleum Yviri vi Strond 4 P.O.Box 1228 Faroe Islands Tel +298 350100 Norway office, Bergen Atlantic Petroleum Norge AS Edvard Griegsvei 3c 5059 Bergen Norway Tel +47…

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