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June 2016 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Jun 1, 2016 · 33 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. June 2016 Corporate Presentation – Lundin Petroleum – slide 1
    Lundin Petroleum Corporate Presentation June 2016 03 5.16 Jun 16 Lundin Petroleum 1
  2. June 2016 Corporate Presentation – Lundin Petroleum – slide 2
    Lundin Petroleum Europes Largest Independent E&P Company Reserves Contingent Resources 2016 Production Guidance 716 MMboe(1) 386 MMboe 65,00075,000 boepd(1) Strong balance sheet and liquidity position Strong production growth…
  3. June 2016 Corporate Presentation – Lundin Petroleum – slide 3
    Lundin Petroleum Successful Organic Growth Strategy Low cost - High value Norway Undeveloped barrel value Norway Finding cost/boe 5 (1, 2) USD/boe 0.7 USD/boe (1) OMV acquired 20% of PL338 (Edvard Grieg) for a post-tax…
  4. June 2016 Corporate Presentation – Lundin Petroleum – slide 4
    Lundin Petroleum Geographical Focus Barents Sea estimated yet to find resource potential Southern 8.8 billion barrels Norway assets represent (1) Barents Sea 96% reserves 83% 2016 production Access North Sea estimated yet to…
  5. June 2016 Corporate Presentation – Lundin Petroleum – slide 5
    Lundin Petroleum Alta / Gohta Proven Track Record 2013 2014 Johan Sverdrup 830 MMboe 2010 of net commercial resources discovered Edvard Grieg 351 MMboe by Lundin in Norway 2007 Alvheim / Volund 2004 2005 2,270 MMboe…
  6. June 2016 Corporate Presentation – Lundin Petroleum – slide 6
    Norway Quality Assets - Alvheim Hub OPEX < 6 USD/boe Gross Alvheim Estimated Ultimate Recovery (MMboe) Alvheim FPSO 2C Contingent Resources 33 Vilje Cumulative Production 204 End of Year 2P Reserves 137 108 Alvheim +76% 198…
  7. June 2016 Corporate Presentation – Lundin Petroleum – slide 7
    Norway Quality Assets Edvard Grieg Area Edvard Grieg Platform Gross Edvard Grieg Estimated Ultimate Recovery (MMboe) Oil Export to Grane 2C gross Contingent Resources Gas Export to SAGE Apollo, Rolvsnes, Luno II & Luno II North…
  8. June 2016 Corporate Presentation – Lundin Petroleum – slide 8
    Norway Edvard Grieg Project delivered, safely on schedule and on budget Strong intial facilities and reservoir performance Gross plateau production of 100,000 boepd expected 2H 2016 WF12176 p17 02.16 Lundin Petroleum 8
  9. June 2016 Corporate Presentation – Lundin Petroleum – slide 9
    Edvard Grieg Deal with Statoil Acquisition Consideration 15% Edvard Grieg + Pipelines 27.581 million shares for Edvard Grieg + Cash Million SEK Adds 31 MMboe 2P Reserves 1.735 million shares 252.8 Adds 10,000 boepd…
  10. June 2016 Corporate Presentation – Lundin Petroleum – slide 10
    Norway Quality Assets Johan Sverdrup Working Interest Johan Sverdrup Unit Largest Phase 1 development on the NCS Major importance to all stakeholders Statoil 40.0267% Up to 40% of NCS oil production at plateau Lundin Petroleum…
  11. June 2016 Corporate Presentation – Lundin Petroleum – slide 11
    Norway Quality Assets Johan Sverdrup PDO Submitted Phase I First Oil PDO Approval Phase I PDO Submission Phase II First Oil Phase I 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 2019 2020…
  12. June 2016 Corporate Presentation – Lundin Petroleum – slide 12
    WF12176 p10 02.16 Norway Factor Change in Total Oil Reserves since PDO 0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 Troll II 4.0 Valhall Ula Tordis Gullfaks Sr Ekofisk Balder Oseberg Vigdis Glitne Draugen Big Fields Tend…
  13. June 2016 Corporate Presentation – Lundin Petroleum – slide 13
    Lundin Petroleum Low Cost - High Value 11.56 OPEX Production Guidance (USD/boe) (Mboepd) 150 9.00 (1, 2) 100 65 to 75(1) 32 32 5 2015 2016 J. Sverdrup J. Sverdrup 2015 2016 J. Sverdrup Guidance Phase 1 Plateau Guidance…
  14. June 2016 Corporate Presentation – Lundin Petroleum – slide 14
    2016 Funding Liquidity and Net Debt New 7 year RBL of up to USD 5.0 billion secured in February 2016 Current commitment USD 4.488 billion (increased by MUSD 185) Attractive margin: 315 bps 5 year grace period (no amortisation until…
  15. June 2016 Corporate Presentation – Lundin Petroleum – slide 15
    Exploration Southern Strategy Barents Sea Geographical focus Norway Shallow water and reservoirs Less than 500 metres water depth Norway Leverage on technology extensive 3D seismic usage Targeting conventional oil play types…
  16. June 2016 Corporate Presentation – Lundin Petroleum – slide 16
    Norway - Southern Barents Sea Overview Lundin Petroleum licences (WI 15%) PL859 Operator 23rd round Oil Partner 23rd round Gas Lundin Petroleum has the second largest acreage position in southern Barents Sea Discoveries Barents…
  17. June 2016 Corporate Presentation – Lundin Petroleum – slide 17
    Loppa High Area Norway Southern Barents Sea Lundin Petroleum licences 23rd Operator Loppa High Exploration and Appraisal Norway Partner Oil 609 Gas Brselv Prospect Kramsn Gohta/Alta discoveries opens up the area Neiden…
  18. June 2016 Corporate Presentation – Lundin Petroleum – slide 18
    695 764 Hammerfest Southeastern Vadso Barents Sea Norway - Southeastern Barents Sea Frontier Exploration Vadso Norway Prospects mapped on new 3D seismic drill-ready Multi-billion barrel resource potential Structure aerial…
  19. June 2016 Corporate Presentation – Lundin Petroleum – slide 19
    Lundin Petroleum Key Messages 11.56 OPEX Production Guidance (USD/boe) (Mboepd) 150 9.00 (1, 2) 100 65 to 75(1) 32 32 5 2015 2016 J. Sverdrup J. Sverdrup 2015 2016 J. Sverdrup Guidance Phase 1 Plateau Guidance Plateau (1)…
  20. June 2016 Corporate Presentation – Lundin Petroleum – slide 20
    Lundin Petroleum Appendix Lundin Petroleum 20
  21. June 2016 Corporate Presentation – Lundin Petroleum – slide 21
    Lundin Petroleum Core Areas: Europe & SE Asia Norway Netherlands France Russia Exploration Development Production Malaysia TOTAL 2P reserves: 716.2 MMboe (1) Contingent resources: 386 MMboe (2) WF12112 pt1 p03…
  22. June 2016 Corporate Presentation – Lundin Petroleum – slide 22
    Financial Performance EBITDA Operating Cash Flow Total Capex 2,000 Full Year Full Year 1,800 2014 2015 1,600 EBITDA (MUSD) 671.3 384.7 1,400 1,200 Operating cash flow (MUSD) 1,138.5 699.6 1,000 Production (boepd) 24,900…
  23. June 2016 Corporate Presentation – Lundin Petroleum – slide 23
    Gas, 4% Lundin Petroleum 2P Reserves Oil & NGL, 96% Total 716.2 MMboe (2) MMboe South East Asia End 2014 187.5 10.7 21 Continental Europe - 2015 Production -11.8 NORWAY 96% 37.5 Norway Other - Asset Sales -0.8 133.8…
  24. June 2016 Corporate Presentation – Lundin Petroleum – slide 24
    2P Reserves History 900 800 700 Cumulative Production 600 Malaysia 500 Norway MMboe Tunisia 400 Netherlands 300 France 200 100 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015…
  25. June 2016 Corporate Presentation – Lundin Petroleum – slide 25
    Lundin Petroleum 2016 Production Guidance Q1 2016 production of 62,400 boepd Q1 production at upper-end of guidance driven by Edvard Grieg outperformance Full year 2016 production guidance revised (1) Revised Guidance: 65,000 75,000…
  26. June 2016 Corporate Presentation – Lundin Petroleum – slide 26
    Edvard Grieg Production Performance Q1 gross production 60,300 boepd Gas production commenced 3 wells on line total capacity 90,000 boepd PDO basis 24,000 boepd per well Project delivered ontime 28th November 2015 first oil…
  27. June 2016 Corporate Presentation – Lundin Petroleum – slide 27
    Norway Utsira High Norway Resources and Upside Potential Lundin Petroleum major operated acreage position Utsira High 2.7 billion boe of gross reserves under development 3 PDO approved Edvard Grieg, Ivar Aasen and Johan Sverdrup…
  28. June 2016 Corporate Presentation – Lundin Petroleum – slide 28
    Norway - Brynhild (WI 90%) Q1 2016 Net Production 3,100 boepd Haewene Brim FPSO performance improving Brynhild field Water handling constraints resolved Injector (A4) Integrity issues being resolved Water injection commenced…
  29. June 2016 Corporate Presentation – Lundin Petroleum – slide 29
    Malaysia Exploration and Production Malaysia Core exploration positions in Peninsular Malaysia and Sabah Sabah Total acreage is 28,000 km , second largest after Petronas 2 14.3 MMboe gross 2P reserves Peninsular Malaysia 96…
  30. June 2016 Corporate Presentation – Lundin Petroleum – slide 30
    Malaysia - Bertam (WI 75%) Q1 2016 Net Production 8,500 boepd Strong facilities performance 98% uptime Bertam field Bertam-3 Initially planned drilling programme complete A15 infill well completed and in production A-15 Good…
  31. June 2016 Corporate Presentation – Lundin Petroleum – slide 31
    France & Netherlands Mature Producing Assets Long life steady production and cash flow Low capital requirement Offshore Netherlands France Netherlands Onshore Hydrocarbon Type Oil Gas 2015 Production Net, boepd 2,730…
  32. June 2016 Corporate Presentation – Lundin Petroleum – slide 32
    Drilling Schedule 2016 Well LUPE 2016 Country Licence - Prospect type Operator WI % NUPR(1) CoGS(2) NRPR(3) Q1 Q2 Q3 Q4 1 Norway PL544 - Fosen exp Lundin 40.00 Dry 2 Norway PL609 - Alta-3 test app Lundin 40.00 3 Norway PL609 -…
  33. June 2016 Corporate Presentation – Lundin Petroleum – slide 33
    Lundin Petroleums Shareholders Number of shares in issue: 340.4 million (1) Average traded volume per day for last 12 months: 1.9 million shares Part of OMX30, NASDAQ Stockholm Shares in free-float approx. 51% Main…

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