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November 2016 Investor Presentation – Lundin Petroleum

Lundin Petroleum · Nov 10, 2016 · 32 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. November 2016 Investor Presentation – Lundin Petroleum – slide 1
  2. November 2016 Investor Presentation – Lundin Petroleum – slide 2
    WF12176 p2 05.16 Lundin Petroleum One of Europe?s Largest Independent E&P Companies Reserves 716 MMboe Contingent Resources 386 MMboe Strong balance sheet and liquidity position Strong production growth with low operating costs…
  3. November 2016 Investor Presentation – Lundin Petroleum – slide 3
    WF12176 p3 02.16 Lundin Petroleum Successful Organic Growth Strategy (1) OMV acquired 20% of PL338 (Edvard Grieg) for a post-tax consideration of 8.7 USD/boe with an effective date of 01 January 2012. (2) Average analyst valuation…
  4. November 2016 Investor Presentation – Lundin Petroleum – slide 4
    4 02.16 Geographical Focus Lundin Petroleum Norway assets represent 96% reserves 83% 2016 production North Sea estimated yet to find resource potential 4.7 billion barrels Barents Sea estimated yet to find resource potential…
  5. November 2016 Investor Presentation – Lundin Petroleum – slide 5
    WF12176 p5 05.16 Lundin Petroleum Proven Track Record 830 MMboe of net commercial resources discovered by Lundin in Norway 407 MMboe 207 MMboe 2,270 MMboe 351 MMboe Alvheim / Volund 2004 ? 2005 Edvard Grieg 2007 Johan…
  6. November 2016 Investor Presentation – Lundin Petroleum – slide 6
    WF12176 p6 02.16 Norway Quality Assets - Alvheim Hub 2P Reserves Alvheim Volund B?yla Total 17.9 9.6 2.4 29.9 15% 35% 15% (1) Year end 2015 WI MMboe net (1) Alvheim FPSO Alvheim Volund Viper/Kobra (Production to…
  7. November 2016 Investor Presentation – Lundin Petroleum – slide 7
    WF12176 p7 05.16 Norway Quality Assets ? Edvard Grieg Area Edvard Grieg Platform Luno South (WI 50%) Luno II (WI 50%) Luno II North (WI 50%) Rolvsnes (WI 50%) Apollo (WI 50%) Gas Export to SAGE Edvard Grieg (WI 65%) Ivar…
  8. November 2016 Investor Presentation – Lundin Petroleum – slide 8
    WF12176 p17 11.16 Norway Edvard Grieg Drilled Producer Prior OWC Latest OWC Future wells Drilled WI OP4 (A20) ongoing OP10 OP6 WI1 (A02) WI2 (A01) (A05 ) WI3 Edvard Grieg OP2 (A06) OP3 (A10A) Edvard Grieg 2017 Appraisal…
  9. November 2016 Investor Presentation – Lundin Petroleum – slide 9
    Norway Quality Assets ? Johan Sverdrup WF12176 p8 10.16 Gross Resources: 1.9 - 3.0 billion boe(3) Largest Phase 1 development on the NCS Major importance to all stakeholders Up to 40% of NCS oil production at full field plateau…
  10. November 2016 Investor Presentation – Lundin Petroleum – slide 10
    Quality Assets ? Johan Sverdrup Norway ? Utsira High First oil Phase 1: Q4 2019 PDO submission for Phase 2: 2H 2018 First oil Phase 2: 2022 NOK 60% USD 15% Other 25% Gross NOK billion Gross Mbopd Phase I (1) Cost…
  11. November 2016 Investor Presentation – Lundin Petroleum – slide 11
    WF12176 p10 02.16 Norway Big Fields Tend to Get Bigger Ekofisk Troll II Snorre Eldfisk Valhall Statfjord ?st Statfjord Nord Heidrun Oseberg Gullfaks Gullfaks S?r Oseberg S?r Oseberg ?st Balder Grane Njord Jotun Brage…
  12. November 2016 Investor Presentation – Lundin Petroleum – slide 12
    WF12176 p23 06.16 Lundin Petroleum Low Cost - High Value 2015 2016 Guidance Production Guidance (Mboepd) 70 to 75 32 150 USD 2.25 Bn >120 2015 2016 Guidance J. Sverdrup Plateau OPEX (USD/boe) Norway Tax Pool 32 ~9.00…
  13. November 2016 Investor Presentation – Lundin Petroleum – slide 13
    WF12176 p22 08.16 2016 Funding Liquidity and Net Debt 4,105 251 ~ USD 1 billion 4,307 49 267 RBL ERF RBL ERF Cash Net Debt Sources of Liquidity 30/09/16 0 1,000 2,000 3,000 4,000 5,000 6,000 MUSD Available Liquidity…
  14. November 2016 Investor Presentation – Lundin Petroleum – slide 14
    176 p13 02.16 Exploration Strategy Geographical focus Norway Shallow water and reservoirs Less than 500 metres water depth Leverage on technology extensive 3D seismic usage Targeting conventional oil play types Norway Southern…
  15. November 2016 Investor Presentation – Lundin Petroleum – slide 15
    WF12176 p25 05.16 Norway - Southern Barents Sea Overview 0 KM 100 Operator Lundin Petroleum licences Partner Oil Gas Barents Sea Wisting discovery Sn?hvit Area Goliat development Alta & Gohta discoveries Johan Castberg…
  16. November 2016 Investor Presentation – Lundin Petroleum – slide 16
    WF12176 p15 11.16 Norway ? Southern Barents Sea Loppa High Exploration and Appraisal Gohta/Alta discoveries opens up the area for significant new discoveries 3 wells in 2016 4 wells to be drilled in 2017 Alta-Gohta appraisal - 3…
  17. November 2016 Investor Presentation – Lundin Petroleum – slide 17
    WF12176 p31 06.16 27 06.16 Norway Southern Barents Sea PL859 Norway - Southeastern Barents Sea High Impact Exploration Prospects mapped on new 3D seismic ? drill-ready Multi-billion barrel resource potential Structure aerial…
  18. November 2016 Investor Presentation – Lundin Petroleum – slide 18
    16 Lundin Petroleum Key Messages Strong production growth with low operating costs Consistent sustainable organic growth strategy going forward Continued strong focus on cost discipline and operating efficiency Responsible operator…
  19. November 2016 Investor Presentation – Lundin Petroleum – slide 19
    WF12112 pt1 p03 05.16 Lundin Petroleum Operational Areas TOTAL 2P reserves: 716.2 MMboe Contingent resources: 386 MMboe Russia Malaysia Norway Netherlands France Exploration Development Production Norway assets represent 96%…
  20. November 2016 Investor Presentation – Lundin Petroleum – slide 20
    p5 10.15 Financial Performance EBITDA Operating Cash Flow Total Capex 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2010 2011 MUSD 2012 2013 2014 2015 Production (boepd) Average Brent oil price (USD/boe) Cost…
  21. November 2016 Investor Presentation – Lundin Petroleum – slide 21
    2 pt1 p04 02.16 2P Reserves Lundin Petroleum (1) As per industry standards the reserve replacement ratio is defined as the ratio of reserve additions to production during the year, excluding acquisitions and sales. The reserves…
  22. November 2016 Investor Presentation – Lundin Petroleum – slide 22
    03 08.16 2P Reserves History 0 100 200 300 400 500 600 700 800 900 MMboe Year End 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151 Malaysia Norway Tunisia Netherlands France Cumulative Production
  23. November 2016 Investor Presentation – Lundin Petroleum – slide 23
    WF12213 Q3 p02 07.16 2016 Production Lundin Petroleum First nine months 2016 production of 68,900 boepd Q3 2016 production of 80,400 boepd Positively impacted by Edvard Grieg and Alvheim reservoir performance and uptime Negative…
  24. November 2016 Investor Presentation – Lundin Petroleum – slide 24
    06 08.16 Edvard Grieg Production Performance First nine months gross production 69,100 boepd Gas production commenced 3 wells on line ? total capacity >90,000 boepd PDO basis 24,000 boepd per well Project delivered ontime ? 28th…
  25. November 2016 Investor Presentation – Lundin Petroleum – slide 25
    Edvard Grieg Transaction Deal Completed 30 June 2016 12176 p24 08.16 15% Edvard Grieg + Pipelines 27.581 million shares for Edvard Grieg Statoil?s Total Shareholding 68.4 million (20.1%) 1.735 million shares 2.000 million treasury…
  26. November 2016 Investor Presentation – Lundin Petroleum – slide 26
    Operator Lundin Petroleum licences Partner Oil field Gas Oil discovery Prospect/lead Norway Utsira High WF12176 p18 02.16 Norway ? Utsira High Resources and Upside Potential 0 500 1,000 1,500 2,000 2,500 3,000 2010 2011…
  27. November 2016 Investor Presentation – Lundin Petroleum – slide 27
    Norway - Brynhild (WI 90%) First Nine Months 2016 Net Production 2,600 boepd Haewene Brim FPSO performance improving Water handling constraints resolved Integrity issues being resolved Water injection commenced Facilities uptime…
  28. November 2016 Investor Presentation – Lundin Petroleum – slide 28
    WF12176 p16 02.16 Malaysia Exploration and Production Bertam (WI 75%) (1) source: IHS 2015 Key exploration areas 2nd largest offshore acreage holder (1) Malaysia Sabah Peninsular Malaysia Core exploration positions in…
  29. November 2016 Investor Presentation – Lundin Petroleum – slide 29
    WF12210 p16 01.16 Malaysia ? Bertam First Nine Months Net Production: 8,700 boepd Good reservoir and facilities performance 100% Uptime in Q3 2016 A15 well completed with excellent results Commenced production in May 2016 540m net…
  30. November 2016 Investor Presentation – Lundin Petroleum – slide 30
    WF12163 p01 11.16 France & Netherlands First Nine Months 2016 Net Production 4,200 boepd Mature Producing Assets Long life steady production and cash flow Low capital requirement Hydrocarbon Type 2015 Production Net, boepd 2P…
  31. November 2016 Investor Presentation – Lundin Petroleum – slide 31
    p1 17.10.16 2016-2017 Drilling Schedule 2016 2017 Q3 Q4 Q1 Q2 Q3 Q4 Netherlands exploration wells not included No rig secured 1 2 3 2 3 4 Norway JS Unit - Johan Sverdrup Norway PL338 - Edvard Grieg Norway PL609 - Alta-3 test…
  32. November 2016 Investor Presentation – Lundin Petroleum – slide 32
    Lundin Petroleum?s Shareholders WF11003 p01 09.15 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%…

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