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January 2016 Investor Presentation – Lundin Petroleum

Lundin Petroleum · Jan 4, 2016 · 27 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. January 2016 Investor Presentation – Lundin Petroleum – slide 1
    WF12120 08 Jan 16 Lundin Petroleum January 2016 Corporate Presentation
  2. January 2016 Investor Presentation – Lundin Petroleum – slide 2
    WF12112 pt2 p02 01.16 Lundin Petroleum AB Company History 2001 2014 (Year End) 2001 2014 (Year End) 2001 2014 116 702.5 MMboe 24,900 boepd 0 60 5 LICENCES RESERVES (1) PRODUCTION 2001 2015 ~USD 50 million Raised cash…
  3. January 2016 Investor Presentation – Lundin Petroleum – slide 3
    WF12112 pt1 p03 09.15 Lundin Petroleum Core Areas: Europe & SE Asia TOTAL 2P reserves: 702.5 MMboe (1) (2) Contingent resources: 404 MMboe (2) (1) Net 2P reserves at end 2014 of 187.5 MMboe excluding Johan Sverdrup (2) Includes…
  4. January 2016 Investor Presentation – Lundin Petroleum – slide 4
    (1) Impairment of Brynhild, Fx WF11543 p5 10.15 Financial Performance Net Result Operating Cash Flow EBITDA Total Capex (1) -600 -400 -200 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2010 2011 MUSD 2012…
  5. January 2016 Investor Presentation – Lundin Petroleum – slide 5
    WF12112 pt1 p05 09.15 Liquidity First Nine Months 2015 2,000 0 4,000 6,000 RBL ERF RBL ERF Cash Liquidity Available liquidity sources Drawn debt Headroom MUSD 4,000 530 3,763 134 53 Net Debt : MUSD 3,844 ~700 liquidity…
  6. January 2016 Investor Presentation – Lundin Petroleum – slide 6
    WF12112 pt1 p04 09.15 2P Reserves Lundin Petroleum (1) Oil price (Brent) USD 70/bbl in 2015 then USD 90/bbl in 2016 + 2% escalation thereafter. Total comprises 2P reserves at end 2014 (187.5 MMboe) + Johan Sverdrup 2P reserves added…
  7. January 2016 Investor Presentation – Lundin Petroleum – slide 7
    WF12112 pt2 p04 09.15 2P Reserves Growth Lundin Petroleum (2) Johan Sverdrup net 2P reserves (515MMboe) added in August 2015 (3) Includes Indonesia divested assets Year End 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013…
  8. January 2016 Investor Presentation – Lundin Petroleum – slide 8
    WF12112 pt1 p06 01.16 Lundin Petroleum Production 2015 (1) Includes Indonesia divested assets Norway, 62% France, 9% Netherlands, 5% Malaysia, 19% Indonesia, 5%(1) 2015 Forecast 0 20 30 10 40 50 60 70 80 Q1 Q2 Q3 Q4…
  9. January 2016 Investor Presentation – Lundin Petroleum – slide 9
    WF12112 pt1 p07 09.15 Production and Cash Flow Generation Step-Change 0 100 150 50 200 2015 Revised Guidance 2016 Guidance J. Sverdrup Plateau Production Guidance (Mboepd) Update late January 32 150 Production Costs(1)…
  10. January 2016 Investor Presentation – Lundin Petroleum – slide 10
    WF12112 pt2 p05 09.15 Norway – Greater Alvheim Area Alvheim, Volund & Bøyla PDO 0 50 100 150 MMboe 200 250 350 400 300 Gross Alvheim Estimated Ultimate Recovery 2C Contingent Resources Cumulative Production End of Year 2P…
  11. January 2016 Investor Presentation – Lundin Petroleum – slide 11
    WF12112 pt1 p08 09.15 Norway – Utsira High Development Projects Ongoing Norwegian developments Edvard Grieg (Lundin 50% operator) Ivar Aasen Unit (Lundin 1.385%) Johan Sverdrup (Lundin 22.60%) Stavanger Norway United North Sea…
  12. January 2016 Investor Presentation – Lundin Petroleum – slide 12
    WF11585 p04 10.15 Lundin Norway Edvard Grieg Development Edvard Grieg Platform Luno South Ivar Aasen Platform Gas Export to SAGE Edvard Grieg Ivar Aasen Oil Export to Grane Edvard Grieg Schematic Drilling 14 wells from jack-up…
  13. January 2016 Investor Presentation – Lundin Petroleum – slide 13
    WF12112 pt2 p06 09.15 Norway – Utsira High Resources and Upside Potential 0 500 1,000 1,500 MMboe (gross) 2,000 2,500 3,000 2010 2011 2012 2013 2014 2015 Utsira High Discoveries Year End Luno II/North Johan Sverdrup…
  14. January 2016 Investor Presentation – Lundin Petroleum – slide 14
    WF12112 pt1 p10 09.15 Norway – Utsira High Johan Sverdrup Development Johan Sverdrup Unit Johan Sverdrup core Discovered by Lundin Petroleum in 2010 Development Phase 1 ongoing Phase 2 development concept selection in 2016 Net 2P…
  15. January 2016 Investor Presentation – Lundin Petroleum – slide 15
    WF12112 pt1 p11 09.15 Norway – Utsira High Johan Sverdrup Development 2015 2016 2017 2018 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 2021 Q1 Q2 Q3 Q4 2022 PDO Submitted – Phase I PDO Approval – Phase I PDO…
  16. January 2016 Investor Presentation – Lundin Petroleum – slide 16
    WF12112 pt1 p17 09.15 Exploration Strategy Geographical focus Norway and SE Asia Shallow water and reservoirs Less than 500 metres water depth Leverage on technology extensive 3D seismic usage Targeting conventional oil play…
  17. January 2016 Investor Presentation – Lundin Petroleum – slide 17
    WF12112 pt1 p16 09.15 Norway Finding Cost & Value Creation Ekofisk Troll II Snorre Eldfisk Valhall Statfjord øst Statfjord Nord Heidrun Oseberg Gullfaks Gullfaks Sør Oseberg Sør Oseberg øst Balder Grane Njord Jotun…
  18. January 2016 Investor Presentation – Lundin Petroleum – slide 18
    WF12123 p06 01.16 2016 Exploration & Appraisal Drilling (1) Excludes one well in Southern Barents Sea 1 exploration well to be drilled in 2016 Targeting 48 MMboe net unrisked prospective resources Malaysia 5 exploration wells to…
  19. January 2016 Investor Presentation – Lundin Petroleum – slide 19
    WF12112 pt2 p07 09.15 Norway Southern Barents Sea 0 KM 100 Operator Lundin Petroleum licences Partner Oil Gas Prospect Licenced Area Industry Broadband 3D Seismic 23rd Round Blocks Barents Sea Hoop Area Loppa High Area…
  20. January 2016 Investor Presentation – Lundin Petroleum – slide 20
    Norway – Southern Barents Sea Loppa High Exploration & Appraisal Barents Alta appraisal programme to continue into 2016 Sea Norway Loppa High Area Gohta/Alta discoveries opens up the area for significant new discoveries Multiple…
  21. January 2016 Investor Presentation – Lundin Petroleum – slide 21
    WF12112 pt2 p10 09.15 Norway – Southern Barents Sea Loppa High Existing Discoveries PL609 (Lundin 40% operated) Discovery well (2014): 57m gross HC column – tested 3,300 bopd First appraisal Alta -2 (2015): Tested 860 bopd oil & 650…
  22. January 2016 Investor Presentation – Lundin Petroleum – slide 22
    WF11855 p09 11.14 Norway Lundin Petroleum - The Most Successful Explorer 0 5,000 10,000 15,000 20,000 25,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 APA 2014 0 5 10 15 20 25 30 35 40 45 2007 2008…
  23. January 2016 Investor Presentation – Lundin Petroleum – slide 23
    WF12112 pt1 p14 01.16 South East Asia 2016 Activity Malaysia Indonesia Indonesia Natuna Sea Malaysia Bertam field, PM307 Sabah Core Area Penyu Core Area 1 development well PM308A PM307 PM319 SB303 - Gas Holding Area…
  24. January 2016 Investor Presentation – Lundin Petroleum – slide 24
    WF11965 p17 01.16 Malaysia Sabah Area Exploration Area under-explored - no drilling since Shell oil discoveries in 1980’s > 2 billion bbls discovered on trend Complete 3D seismic coverage of “Shelf Edge Play” unlocks material…
  25. January 2016 Investor Presentation – Lundin Petroleum – slide 25
    2015/2016 Exploration & Appraisal Drilling Schedule 2015 2016 Q4 Q1 Netherlands exploration wells not included (1) Net Unrisked Prospective Resources (MMboe) (2) Chance of Geological Success (3) Net Risked Prospective Resources…
  26. January 2016 Investor Presentation – Lundin Petroleum – slide 26
    Lundin Petroleum’s Shareholders WF11003 p01 09.15 Number of shares in issue: 311.1 million (1) Average traded volume per day for last 12 months: ~1.9 million shares Part of OMX30, NASDAQ Stockholm source: Bloomberg, 28 September…
  27. January 2016 Investor Presentation – Lundin Petroleum – slide 27
    Production and Cash Flow Generation Step-Change 0 100 150 50 200 2015 Revised Guidance 2016 Guidance J. Sverdrup Plateau Production Guidance (Mboepd) Update late January 32 150 Production Costs(1) (USD/boe) 2012 2013…

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