3rd Quarter 2015 Hans Jakob Hegge, CFO Photo credit: Aibel
Third quarter 2015 Consistent strong operational performance Adjusted opex and SG&A down 15% YoY1) Lowering 2015 capex guidance by USD 1 bn to USD 16.5 bn Strong cash flow generation Delayed schedule on Mariner and Aasta Hansteen…
Strong production performance Continued high production regularity Equity production mboe/d Value over volume 1909 1829 1927 Flex-gas moved from 2014 to 2015 and sold at higher prices 7% underlying growth1) Gas 10% on NCS…
Adjusted earnings by segment D&P Norway D&P International MMP Strong operational performance give Low realised prices lead to Strong delivery continues solid adjusted earnings negative adjusted earnings High reliability captured high…
Financial results Solid operational performance 3Q 2015 NOK bn Strong results from MMP (2.8) 7.3 9.4 16.7 (13.0) 3.7 Low oil prices resulting in negative N/A (57%) (46%) (60%) results in D&P International Impairment of…
Cash flow 2015 Strong cash generation 2015 YTD; NOK bn High earnings after tax from MMP Proceeds from divestments Adjusted net debt to capital employed of 24% 6 1) Income before tax (7) + Non cash items (123)
Outlook 2015 Capex USD 16.5 bn1) Production 3% annual organic growth 40 mboe per day Maintenance 15 mboe per day in 4Q Exploration USD 3.0 bn1) 7 1) Assuming NOK/USD of 8.00
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