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September 2015 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Sep 2, 2015 · 32 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. September 2015 Corporate Presentation – Lundin Petroleum – slide 1
    Lundin Petroleum Corporate Presentation September 2015 WF12012 04 Sep 15 Lundin Petroleum 1
  2. September 2015 Corporate Presentation – Lundin Petroleum – slide 2
    Lundin Petroleum AB Company Overview and History Lundin Petroleum AB 2001 USD 50 million Raised cash equity Ticker - Nasdaq Stockholm LUPE No cash equity raised since Shares in Issue, million 311.1 2015 USD 4.4 billion Market…
  3. September 2015 Corporate Presentation – Lundin Petroleum – slide 3
    Lundin Petroleum Asset Overview Core Areas: Europe & SE Asia Exploration Norway Development Production Russia Netherlands France Malaysia TOTAL Indonesia 2P reserves: 702.5 MMboe (1) (2) Contingent resources: 404…
  4. September 2015 Corporate Presentation – Lundin Petroleum – slide 4
    Full Year Full Year Financial 2013 2014 Performance EBITDA (MUSD) 960.9 671.3 Operating cash flow (MUSD) 975.6 1,138.5 Net result (MUSD) 72.9 -431.9 Production (boepd) 32,700 24,900 Average Brent oil price (USD/boe) 108.66…
  5. September 2015 Corporate Presentation – Lundin Petroleum – slide 5
    First Six Months 2015 Liquidity MUSD at 30 June 2015 Debt Outstanding 3,589 (1) Cash Balances 93 Net Debt Position 3,496 Full access to USD 4 billion under low oil price sensitivity Margin on Loan Facility: 3.0% from 1 July…
  6. September 2015 Corporate Presentation – Lundin Petroleum – slide 6
    2P Reserves Gas, 4% Total 702.5 MMboe (4) Oil & NGL, 96% Brynhild, 20.5 Norway, Reserves increase(1) 5% 663.7 Reserves replacement ratio(1) 90% Edvard Grieg 93.6 Reserves end 2014 (MMboe) 187.5 (2) Reserves Addition…
  7. September 2015 Corporate Presentation – Lundin Petroleum – slide 7
    2P Reserves History 900 800 700 Cumulative 600 Production 500 Johan Sverdrup (1) 400 Malaysia (1) Norway MMboe 300 Tunisia Netherlands 250 Indonesia 200 France 150 100 50 0 2002 2003 2004 2005 2006 2007…
  8. September 2015 Corporate Presentation – Lundin Petroleum – slide 8
    Contingent Resource Growth 1,200 1,000 Norway - J. Sverdrup 800 Malaysia Russia MMboe 600 Others Norway 400 200 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 WF12010 p5 12.14 Year End Excluding…
  9. September 2015 Corporate Presentation – Lundin Petroleum – slide 9
    Lundin Petroleum 2015 Forecast Production 2015 Malaysia, 19% Q2 2015 production: 28,900 boepd Alvheim underperformed (gas compressor) Indonesia, 5% Brynhild underperformed (FPSO efficiency, higher water cut) Netherlands, 5% 2015…
  10. September 2015 Corporate Presentation – Lundin Petroleum – slide 10
    Production Forecast From Ongoing Development Johan Other existing contingent and Sverdrup prospective resources not included in production forecast Bertam, 05.04.15 Ivar Byla, 19.01.15 Aasen Edvard Brynhild, 25.12.14…
  11. September 2015 Corporate Presentation – Lundin Petroleum – slide 11
    PL203b Norway - Greater Alvheim Area PL088BS PL203 PL036c 1H15 Net Production: 15,400 boepd Alvheim Field WI 2P reserves (MMboe net) 1 Alvheim 15% 19.1 Kobra Volund 35% 8.2 Gekko Byla 15% 3.4 Volund Field Viper PL150b…
  12. September 2015 Corporate Presentation – Lundin Petroleum – slide 12
    New Production Brynhild, offshore Norway Brynhild, Bertam Haewene Brim FPSO Brynhild Field Licence: PL148 Brynhild Manifold Partner: Lundin Petroleum 90% (operator), Repsol 10% Dev. concept: Subsea tie-in to Shell operated Pierce…
  13. September 2015 Corporate Presentation – Lundin Petroleum – slide 13
    Overview France & Netherlands France Netherlands Hydrocarbon Type Oil Gas 1H15 Production Net, MMboepd 2.9 1.7 2P Reserves Net (1), MMboe 21.1 2.5 Offshore Best Estimates Contingent 13.1 Netherlands Resources Net (1),…
  14. September 2015 Corporate Presentation – Lundin Petroleum – slide 14
    Norway Norway & Malaysia Development Projects United Kingdom Byla Stavanger Ongoing Norwegian developments Ivar Aasen Unit Edvard Grieg Johan Sverdrup Edvard Grieg (Lundin 50% operator) North Sea Norway Ivar Aasen Unit…
  15. September 2015 Corporate Presentation – Lundin Petroleum – slide 15
    Lundin Norway Norway - Southern Utsira High Edvard Grieg Development 0 KM 20 UK PL625 PL779 PL167 & PL167B Johan Sverdrup Unit Ivar Aasen Unit PL501 PL673 PL674 Apollo PL338 Lundin Petroleum interest: 50% (operator) Edvard…
  16. September 2015 Corporate Presentation – Lundin Petroleum – slide 16
    Development Projects Edvard Grieg Work Status Edvard Grieg topsides installation and link to flotel Safe Boreas WF11898 p01 07.15 Lundin Petroleum 16
  17. September 2015 Corporate Presentation – Lundin Petroleum – slide 17
    Utsira High Discoveries Lundin Norway 3,000 Utsira High Resources and Upside Potential 2,500 2,000 Luno II/North Johan Sverdrup MMboe 1,500 Apollo 1,000 Ivar Aasen Edvard Grieg 500 Lundin Petroleum major operated…
  18. September 2015 Corporate Presentation – Lundin Petroleum – slide 18
    Norway Johan Sverdrup Development PDO Phase 1 approved on the 21st August 2015 Net 2P reserves: 515 MMboe Working Interest Johan Sverdrup Unit Lundin Norway 22.6000% Statoil 40.0267% Maersk 8.4400% Det norske 11.5733% Petoro…
  19. September 2015 Corporate Presentation – Lundin Petroleum – slide 19
    Norway Johan Sverdrup Development Contract awards for Phase 1 All major topside contracts awarded Drilling contract awarded Contract for the installation of three platforms using heavy-lift vessel Pioneering Spirit First steel cut…
  20. September 2015 Corporate Presentation – Lundin Petroleum – slide 20
    Norway Neiden Barents Sea Remaining 2015 prospects Alta 2015 Appraisal wells rnen Exploration & Appraisal Drilling Barents Sea Area Norway 5 exploration wells drilled One oil discovery Norwegian Sea Two non-commercial…
  21. September 2015 Corporate Presentation – Lundin Petroleum – slide 21
    Remaining 2015 Prospective Resources 2015 net unrisked prospective resources 600 Norway SE Asia 500 Unrisked Million boe 400 Target Unrisked 300 355 MMboe 200 100 0 y s g en n ne an rr…
  22. September 2015 Corporate Presentation – Lundin Petroleum – slide 22
    Design Temperature for February (celcius) Loppa High Area Norway Norway Southern Barents Sea Fields Oil Gas Prospects Loppa High Lundin Petroleum Licences Operated Non Operated Bjrnya Bassenget Lundin Petroleum is a major…
  23. September 2015 Corporate Presentation – Lundin Petroleum – slide 23
    Norway - Southern Barents Sea Loppa High Exploration Alta total resources: Alta Discovery 125 400 MMboe PL609 (Lundin 40%, operated) Development options 46 metres gross oil column / 11 metres gross gas column are being reviewed…
  24. September 2015 Corporate Presentation – Lundin Petroleum – slide 24
    Norway Utsira High Area Evolution Lundin Petroleum Operator Lundin Petroleum Partner Oil Gas Prospect Lead NGL 2004 - 2007 2008 - 2010 2011 - 2015 024 025 024 PL546 (2010) 025 PL625 024 (2012) 025 I. Aasen Unit PL674 Ivar…
  25. September 2015 Corporate Presentation – Lundin Petroleum – slide 25
    Norway Lundin Petroleum - The Most Successful Explorer Second largest holder of operated acreage Largest resources discovered on NCS 20072014 (1) Licence acreage 25,000 Shell ENI Suncor Talisman Cumulative km2 20,000 APA 2014…
  26. September 2015 Corporate Presentation – Lundin Petroleum – slide 26
    Why Invest Undiscovered Resources on the NCS 17.8 Bn bbls Source: NPD Wells drilled in Norway Norwegian Sea 5.2 Bn bbls Barents Sea 7.6 Bn bbls Excellent exploration potential remains No independents until recently Lower…
  27. September 2015 Corporate Presentation – Lundin Petroleum – slide 27
    Norway Finding Cost & Value Creation Lundin Petroleum most successful exploration company in Norway during the last decade Continue to pursue value creation through exploration Norway - Cumulative Finding Cost (USD/boe)(1)…
  28. September 2015 Corporate Presentation – Lundin Petroleum – slide 28
    South East Asia 2015 Activity Total Exploration Licences: 12 Cambodia Production Licences: 1 Vietnam Joint Study Area: 1 Philippines Cakalang SB303 Lundin Petroleum Operator Lundin Petroleum Partner PM328 Baronang Sabah Area…
  29. September 2015 Corporate Presentation – Lundin Petroleum – slide 29
    2015 Exploration & Appraisal Drilling Schedule Well LUPE CoGS(2) 2015 Country Licence - Prospect type Operator WI % NUPR(1) NRPR(3) Q1 Q2 Q3 Q4 1 Norway PL579 - Morkel exp Lundin 50.00 - - - Non commercial discovery 2 Norway PL359…
  30. September 2015 Corporate Presentation – Lundin Petroleum – slide 30
    Vision for Sustainable Growth Strong financial performance linked to sustainability Sustainable growth achieved through: Investing in People Proactively managing Health & Safety Promoting Environmental stewardship Engaging…
  31. September 2015 Corporate Presentation – Lundin Petroleum – slide 31
    Lundin Petroleums Shareholder structure Shareholders Others, 14% Lundin Family, 32% Retail, 14% Number of shares in issue: 311.1 million Owned by Lundin Petroleum: approx. 2 million shares Institutional Average traded…
  32. September 2015 Corporate Presentation – Lundin Petroleum – slide 32
    Production Forecast From Ongoing Development Johan Other existing contingent and Sverdrup prospective resources not included in production forecast Bertam, 05.04.15 Ivar Byla, 19.01.15 Aasen Edvard Brynhild, 25.12.14…

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