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December 2016 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Dec 5, 2016 · 35 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. December 2016 Corporate Presentation – Lundin Petroleum – slide 1
  2. December 2016 Corporate 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. December 2016 Corporate Presentation – Lundin Petroleum – slide 3
    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 of Johan Sverdrup…
  4. December 2016 Corporate Presentation – Lundin Petroleum – slide 4
    WF12176 p4 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…
  5. December 2016 Corporate 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. December 2016 Corporate 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 B?yla PDO Gross Alvheim HUB…
  7. December 2016 Corporate 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. December 2016 Corporate Presentation – Lundin Petroleum – slide 8
    p 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 ~30MMboe(1)…
  9. December 2016 Corporate Presentation – Lundin Petroleum – slide 9
    Norway Quality Assets ? Johan Sverdrup 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 Construction of all…
  10. December 2016 Corporate Presentation – Lundin Petroleum – slide 10
    WF12213 Q3 p08 10.16 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…
  11. December 2016 Corporate 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. December 2016 Corporate Presentation – Lundin Petroleum – slide 12
    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 (1) ~5 11.56 (1)…
  13. December 2016 Corporate Presentation – Lundin Petroleum – slide 13
    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 Headroom New 7 year…
  14. December 2016 Corporate Presentation – Lundin Petroleum – slide 14
    WF12176 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…
  15. December 2016 Corporate Presentation – Lundin Petroleum – slide 15
    WF12256 p15 08.15 Norway Searching for the next Elephant Alvheim Edvard Grieg Johan Sverdrup Alta / Gohta Korpfjell Neiden Filicudi Hellemobotn/Borselv Lundin Petroleum 15
  16. December 2016 Corporate Presentation – Lundin Petroleum – slide 16
    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…
  17. December 2016 Corporate Presentation – Lundin Petroleum – slide 17
    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…
  18. December 2016 Corporate Presentation – Lundin Petroleum – slide 18
    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…
  19. December 2016 Corporate Presentation – Lundin Petroleum – slide 19
    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 with…
  20. December 2016 Corporate Presentation – Lundin Petroleum – slide 20
    Lundin Petroleum 20 Lundin Petroleum Appendix
  21. December 2016 Corporate Presentation – Lundin Petroleum – slide 21
    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%…
  22. December 2016 Corporate Presentation – Lundin Petroleum – slide 22
    WF11543 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…
  23. December 2016 Corporate Presentation – Lundin Petroleum – slide 23
    WF12112 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…
  24. December 2016 Corporate Presentation – Lundin Petroleum – slide 24
    WF12164 p03 08.16 2P Reserves History Excluding discontinued operations 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…
  25. December 2016 Corporate Presentation – Lundin Petroleum – slide 25
    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…
  26. December 2016 Corporate Presentation – Lundin Petroleum – slide 26
    WF12213 Q3 p06 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…
  27. December 2016 Corporate Presentation – Lundin Petroleum – slide 27
    Edvard Grieg Transaction Deal Completed 30 June 2016 WF12176 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…
  28. December 2016 Corporate Presentation – Lundin Petroleum – slide 28
    Operator Lundin Petroleum licences Partner Oil field Gas Oil discovery Prospect/lead Norway Utsira High Norway ? Utsira High Resources and Upside Potential 0 500 1,000 1,500 2,000 2,500 3,000 2010 2011 2012 2013 2014…
  29. December 2016 Corporate Presentation – Lundin Petroleum – slide 29
    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…
  30. December 2016 Corporate Presentation – Lundin Petroleum – slide 30
    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…
  31. December 2016 Corporate Presentation – Lundin Petroleum – slide 31
    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…
  32. December 2016 Corporate Presentation – Lundin Petroleum – slide 32
    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…
  33. December 2016 Corporate Presentation – Lundin Petroleum – slide 33
    WF11117 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…
  34. December 2016 Corporate Presentation – Lundin Petroleum – slide 34
    Lundin Petroleum?s 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 shareholders…
  35. December 2016 Corporate Presentation – Lundin Petroleum – slide 35
    www.lundin-petroleum.com

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