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October 2015 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Oct 19, 2015 · 30 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. October 2015 Corporate Presentation – Lundin Petroleum – slide 1
    Lundin Petroleum Corporate Presentation October 2015 WF12120 16 Oct 15 Lundin Petroleum 1
  2. October 2015 Corporate Presentation – Lundin Petroleum – slide 2
    Lundin Petroleum Key Messages Europes largest independent E&P company Consistent sustainable organic growth strategy going forward Strong production growth with low unit operating costs Strong balance sheet and liquidity…
  3. October 2015 Corporate Presentation – Lundin Petroleum – slide 3
    Lundin Petroleum AB Company History USD 50 million USD 4.7 billion Raised cash equity Market Cap + Distribution (UK) USD 0.7 bn 2001 2015 No cash equity raised since 1 billion barrels Resource Base (2P + 2C) 116 702.5 MMboe…
  4. October 2015 Corporate Presentation – Lundin Petroleum – slide 4
    Lundin Petroleum Core Areas: Europe & SE Asia Norway Netherlands France Russia Exploration Development Production Malaysia TOTAL 2P reserves: 702.5 MMboe (1) (2) Contingent resources: 404 MMboe (2) WF12112 pt1 p03…
  5. October 2015 Corporate Presentation – Lundin Petroleum – slide 5
    Financial Performance Net Result Operating Cash Flow EBITDA Total Capex 2,000 1,800 Full Year Full Year 1,600 2013 2014 1,400 EBITDA (MUSD) 960.9 671.3 1,200 1,000 Operating cash flow (MUSD) 975.6 1,138.5 800 Net result…
  6. October 2015 Corporate Presentation – Lundin Petroleum – slide 6
    Liquidity Mid-Year 2015 5,000 461 4,000 4,000 965 liquidity headroom 3,553 36 3,000 MUSD 2,000 Net Debt (1): MUSD 3,496 1,000 93 0 Cash RBL ERF RBL ERF WF12112 pt1 p05 09.15 Liquidity Available liquidity…
  7. October 2015 Corporate Presentation – Lundin Petroleum – slide 7
    Lundin Petroleum Gas, 4% 2P Reserves Oil & NGL, 96% Total 702.5 MMboe (1) South East Asia (2) 15.2 23.6 Continental Europe NORWAY 95% 55.1 Norway Other 93.6 Edvard Grieg 515 Johan Sverdrup (1) Oil price (Brent) USD…
  8. October 2015 Corporate Presentation – Lundin Petroleum – slide 8
    Lundin Petroleum 2P Reserves Growth 900 800 700 600 Cumulative Production 500 Johan Sverdrup (2) 400 Malaysia (2) (1) 29% Norway MMboe 300 R Tunisia G 250 CA Netherlands 200 Indonesia (3) 150 France 100…
  9. October 2015 Corporate Presentation – Lundin Petroleum – slide 9
    Lundin Petroleum Production 2015 2015 Forecast Malaysia, 19% 2015 Production Guidance (1) (Mboepd) 80 Indonesia, 5%(1) Other production Exit rate Norway production Netherlands, 5% 75,000 boepd 70 post Edvard Grieg France, 9%…
  10. October 2015 Corporate Presentation – Lundin Petroleum – slide 10
    Production and Cash Flow Generation Step-Change Production Guidance (Mboepd) 200 150 150 00% 1 100 75 0% 13 50 32 0 2015 Revised 2015 Exit J. Sverdrup Guidance Guidance Plateau production growth Production Costs(1)…
  11. October 2015 Corporate Presentation – Lundin Petroleum – slide 11
    Norway Greater Alvheim Area Alvheim, Volund & Byla Continued strong operating and subsurface performance Viper/Kobra project progressing to plan Portfolio of good in-fill drilling opportunities Contingent Resources Production…
  12. October 2015 Corporate Presentation – Lundin Petroleum – slide 12
    Norway Utsira High Development Projects Norway Utsira High Area Ongoing Norwegian developments Edvard Grieg (Lundin 50% operator) Norway developments Ivar Aasen Unit (Lundin 1.385%) Johan Sverdrup (Lundin 22.60%) United…
  13. October 2015 Corporate Presentation – Lundin Petroleum – slide 13
    Norway Utsira High Edvard Grieg Development Edvard Grieg Schematic Ivar Aasen Platform Edvard Grieg Platform Lundin Petroleum interest: 50% (operator) OMV 20%, Wintershall 15%, Statoil 15% Gas Export to SAGE 2P reserves: 187…
  14. October 2015 Corporate Presentation – Lundin Petroleum – slide 14
    Development Projects Edvard Grieg Work Status Installation completed by Thialf crane barge Safe Boreas flotel Edvard Grieg platform Rowan Viking drilling rig WF12112 pt1 p15 09.15 Lundin Petroleum 14
  15. October 2015 Corporate Presentation – Lundin Petroleum – slide 15
    Norway Utsira High Resources and Upside Potential Lundin Petroleum major operated acreage position 2.7 billion boe of gross reserves under development 3 PDO approved Edvard Grieg, Ivar Aasen and Johan Sverdrup (Phase 1) 80 MMboe of…
  16. October 2015 Corporate Presentation – Lundin Petroleum – slide 16
    Norway Utsira High Johan Sverdrup Development Johan Sverdrup core Discovered by Lundin Petroleum in 2010 Development Phase 1 ongoing Net 2P reserves: 515 MMboe Johan Sverdrup Unit Norway Working Interest Johan Sverdrup…
  17. October 2015 Corporate Presentation – Lundin Petroleum – slide 17
    Norway Utsira High Johan Sverdrup Development PDO Submitted Phase I PDO Approval Phase I PDO Submission Phase II First Oil Phase I First Oil Phase II Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 2017 2018…
  18. October 2015 Corporate Presentation – Lundin Petroleum – slide 18
    Exploration Strategy Geographical focus Norway and SE Asia Southern Barents Shallow water and reservoirs Sea Less than 500 metres water depth Leverage on technology extensive 3D seismic usage Targeting conventional oil play…
  19. October 2015 Corporate Presentation – Lundin Petroleum – slide 19
    Norway Finding Cost & Value Creation Lundin Petroleum most successful exploration company in Norway during the last decade Continue to pursue value creation through exploration organic growth Norway Norway Lundin Petroleum Finding…
  20. October 2015 Corporate Presentation – Lundin Petroleum – slide 20
    Remaining 2015 Neiden Barents Sea prospects Alta 2015 Appraisal wells rnen Exploration & Appraisal Drilling Southern Barents Sea Area Norway 5 exploration wells drilled One oil discovery Norwegian Sea Two non-commercial…
  21. October 2015 Corporate Presentation – Lundin Petroleum – slide 21
    Southern Barents Sea Area Norway Southern Barents Sea Norway Lundin Petroleum licences Operator Oil Southern Barents Sea Partner Gas Underexplored 100 wells Prospect Licenced Area 23rd Round Blocks Hoop Area Industry…
  22. October 2015 Corporate Presentation – Lundin Petroleum – slide 22
    Norway Southern Barents Sea Loppa High Exploration & Appraisal Lundin Petroleum licences Operator Partner 609 Brselv Oil Gas Kramsn Prospect Gohta/Alta discoveries opens up the area for significant new discoveries Neiden…
  23. October 2015 Corporate Presentation – Lundin Petroleum – slide 23
    Norway Southern Barents Sea Loppa High Existing Discoveries Alta total resources: 125 400 MMboe Alta Discovery Development options PL609 (Lundin 40% operated) are being reviewed 46 metres gross oil column / 11 metres gross gas…
  24. October 2015 Corporate Presentation – Lundin Petroleum – slide 24
    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…
  25. October 2015 Corporate Presentation – Lundin Petroleum – slide 25
    South East Asia 2015 Activity Bertam field, PM307 SB303 Sabah Core Area PM328 SB307/308 PM319 PM307 Malaysia Penyu Core Area Lundin Petroleum Operator Lundin Petroleum Partner 1 exploration well PM308A Natuna Sea…
  26. October 2015 Corporate Presentation – Lundin Petroleum – slide 26
    Malaysia 3D Seismic over Sabah Licences Sabah Area Exploration Barton Maligan 80 MMbbls Area under-explored - no drilling since Shell oil discoveries 110 MMbbls (2) in 1980s 2 billion bbls discovered on trend Complete 3D seismic…
  27. October 2015 Corporate Presentation – Lundin Petroleum – slide 27
    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…
  28. October 2015 Corporate Presentation – Lundin Petroleum – slide 28
    Lundin Petroleums Shareholder structure Shareholders Others, 9% Lundin Family, 31% Retail, 12% Number of shares in issue: 311.1 million (1) Treasury, 1% Average traded volume per day for last 12 months: Institutional Investors,…
  29. October 2015 Corporate Presentation – Lundin Petroleum – slide 29
    Production and Cash Flow Generation Step-Change Production Guidance (Mboepd) 200 150 150 00% 1 100 75 0% 13 50 32 0 2015 Revised 2015 Exit J. Sverdrup Guidance Guidance Plateau production growth Production Costs(1)…
  30. October 2015 Corporate Presentation – Lundin Petroleum – slide 30
    Vision for Sustainable Growth Strong financial performance linked to sustainability Sustainable growth: People are key to our success Proactively managing Health & Safety Promoting Environmental stewardship Engaging with…

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