DET NORSKE Highlights Production Total production of 62.8 mboepd in Q3 2015 Finance Q3 EBITDA USD 225 million, EPS -0.82 (USD) USD 1.7 billion in cash and undrawn debt facilities Development projects Ivar Aasen development on…
Financials Q3 2015
FINANCIALS Statement of income Income statement (USD mill) Q3 2015 Q3 2014 YTD 2015 Revenues 281 18 942 Production costs 27 8 117 Other operating expenses 11 1 48 EBITDAX 243 9 777 Exploration expenses 18 72 58 EBITDA 225 (62) 720…
FINANCIALS Statement of financial position Assets Assets (USD mill) 30.09.15 30.09.14 (USD mill) 30.09.15 30.09.14 Goodwill 948 50 Equity 495 962 Other intangible assets 898 435 Other provisions for liabilities incl. P&A 555 139…
FINANCIALS AND FUNDING Cash flow and liquidity Cash flow (USDm) Liquidity (USDbn) Undrawn credit Cash flow from operations covered cash flow Cash & cash equivalents from investing in the quarter 1,75 1,74 Net interest-bearing debt…
FINANCIALS 2015 taxes Estimated tax payable for 2015 (NOKbn) 2,2 2015 tax payable was estimated to be NOK 2.2 billion in mid-2015 0,2 Q216 0,7 Refund for tax year 2014 estimated at NOK 0.2 bn (to be dispersed in Dec. 2015) Q116…
Operations Q3 2015
PRODUCTION Oil and gas production in Q3 2015 Net production (boepd) Q3 production Q3 2015 production of 62.8 mboepd Production efficiency was 98.1%, above target Realized oil price of USD 52/bbl Production was positively impacted…
GREATER ALVHEIM AREA Further developing the Alvheim area New projects in the Alvheim area Alvheim area 4 new wells planned to come on stream in 2015 Byla M1 on stream in January East Kameleon L4 on stream in April Byla M2 on stream in…
IVAR AASEN (35%1) Ivar Aasen project on schedule for first oil in 2016 Events in the quarter Detailed timeline Production drilling commenced in July 2012 2013 2014 2015 2016 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 Pipelines between Edvard Grieg…
IVAR AASEN (35%1) Topside construction reached 85% completion Construction progressed well in Q3 Construction of the topside is about 85% complete First sub system handed over for commissioning in September Trial fit of the flare…
IVAR AASEN (35%1) Drilling of production wells Meters/dry hole day (ex. core&log) by well2 Initiated drilling of production wells through Development wells between 2010 and jacket in mid-July 2015 on the NCS, targeting conventional…
JOHAN SVERDRUP (11.5733%) Johan Sverdrup project progressing as planned PDO approved by MPE in August Production start-up: Q4 2019 Volumes: 1.7-3.0bn boe (80% from Phase 1) Cost estimates are coming down Phase 1 CAPEX reduced from…
BUSINESS DEVELOPMENT Acquisition of Svenska Petroleum Exploration AS Map of assets Cash consideration of USD 75 million Increased ownership in attractive assets with resource upside potential 13 licenses and 15 employees…
BUSINESS DEVELOPMENT Acquisition of Svenska Petroleum Exploration AS Map of North Sea discoveries Krafla/Askja and Garantiana are both being matured for development Good fit with existing portfolio as investment decisions will occur…
EXPLORATION Key focus areas in 2016 Overview of existing core and exploration areas Securing new acreage 23rd licensing round Exploration Area Prepare upcoming 23rd licensing round Existing Core Area Loppa North Assessing…
Outlook Q3 2015
OUTLOOK Revised guidance Item Actual first 9 months 2015 Previous guidance Revised guidance 2015 CAPEX USD 645 million USD 950 1,000 million USD 925 million 2015 EXPEX USD 76 million USD 115 125 million USD 95 million 2015…
OUTLOOK Summary and outlook Development projects Ivar Aasen progressing according to plan Johan Sverdrup progressing according to schedule, awaiting the outcome of the complaint regarding ownership Continue to develop the Alvheim…
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