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January 2017 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Jan 20, 2017 · 34 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 2017 Corporate Presentation – Lundin Petroleum – slide 1
    Lundin Petroleum Corporate Presentation January 2017 06 5.16 Jan 17 WF12176 Lundin Petroleum 1
  2. January 2017 Corporate Presentation – Lundin Petroleum – slide 2
    Lundin Petroleum One of Europes Largest Independent E&P Companies Reserves Contingent Resources 2016 Production Guidance 743 MMboe(1) 267 MMboe(1) 70,00075,000 boepd(1) Strong balance sheet and liquidity position Strong…
  3. January 2017 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. January 2017 Corporate Presentation – Lundin Petroleum – slide 4
    Lundin Petroleum Geographical Focus Barents Sea estimated yet Southern to find resource potential Barents Sea 8.8 billion barrels Norway assets represent 96% reserves 83% 2016 production Access + North Sea estimated yet to…
  5. January 2017 Corporate Presentation – Lundin Petroleum – slide 5
    Lundin Petroleum Alta / Gohta Proven Track Record 2013 2014 Johan Sverdrup 830 MMboe of net commercial 2010 resources discovered by Lundin in Norway Edvard Grieg 351 MMboe 2007 Alvheim / Volund 2004 2005 2,270…
  6. January 2017 Corporate Presentation – Lundin Petroleum – slide 6
    Norway Quality Assets - Alvheim Hub OPEX < 6 USD/boe Gross Alvheim HUB Estimated Ultimate Recovery (MMboe) Alvheim FPSO 2C Contingent Resources 33 Vilje Cumulative Production 266 End of Year 2P Reserves +67% (172MMboe)…
  7. January 2017 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. January 2017 Corporate Presentation – Lundin Petroleum – slide 8
    Norway Edvard Grieg Lundin operated project delivered safely, on schedule and on budget Strong facilities and reservoir performance Gross plateau production of 100,000 boepd expected late 2016 when 4th producer is onstream Water…
  9. January 2017 Corporate Presentation – Lundin Petroleum – slide 9
    Norway Quality Assets Johan Sverdrup Working Interest Johan Sverdrup Unit Statoil 40.0267% Lundin 22.6000% Largest Phase 1 development on the NCS Petoro 17.3600% Major importance to all stakeholders Aker BP 11.5733% Up to 40% of…
  10. January 2017 Corporate Presentation – Lundin Petroleum – slide 10
    Norway Utsira High FX SPLIT Phase 1 Quality Assets Johan Sverdrup USD 15% First oil Phase 1: Q4 2019 Other NOK PDO submission for Phase 2: 2H 2018 25% 60% First oil Phase 2: 2022 PRODUCTION CAPACITY GROSS CAPEX (Bn NOK) PHASE…
  11. January 2017 Corporate Presentation – Lundin Petroleum – slide 11
    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…
  12. January 2017 Corporate Presentation – Lundin Petroleum – slide 12
    Lundin Petroleum Low Cost - High Value 11.56 OPEX Production Guidance (USD/boe) (Mboepd) 150 9.00 (1) 120 70 to 75 32 32 5 2015 2016 J. Sverdrup J. Sverdrup 2015 2016 J. Sverdrup Guidance Phase 1 Plateau Guidance Plateau…
  13. January 2017 Corporate Presentation – Lundin Petroleum – slide 13
    2016 Funding Liquidity and Net Debt New 7 year USD 5.0 billion RBL secured in February 2016 - fully committed Attractive margin: 315 bps 5 year grace period (no amortisation until end 2020) Norwegian exploration tax refund…
  14. January 2017 Corporate Presentation – Lundin Petroleum – slide 14
    Exploration 4 Exploration wells Southern Strategy 3 Appraisal wells Barents Sea Geographical focus Norway Shallow water and reservoirs Less than 500 metres water depth Leverage on technology extensive 3D seismic usage Norway…
  15. January 2017 Corporate Presentation – Lundin Petroleum – slide 15
    Norway Searching for the next Elephant Hellemobotn/Borselv Korpfjell Filicudi Johan Sverdrup Neiden Edvard Grieg Alta / Gohta Alvheim WF12256 p15 08.15 Lundin Petroleum 15
  16. January 2017 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. January 2017 Corporate Presentation – Lundin Petroleum – slide 17
    Loppa High Area Norway Southern Barents Sea Loppa High Exploration and Appraisal Borselv Prospect 300 MMboe gross Norway Gohta/Alta discoveries opens up the area for 609 Kramsn significant new discoveries Neiden Discovery…
  18. January 2017 Corporate Presentation – Lundin Petroleum – slide 18
    PL859 Southern Norway - Southeastern Barents Sea Barents Sea High Impact Exploration Prospects mapped on new 3D seismic drill-ready Norway Multi-billion barrel resource potential Structure aerial closures 34 times the size of…
  19. January 2017 Corporate Presentation – Lundin Petroleum – slide 19
    Lundin Petroleum Key Messages 11.56 OPEX Production Guidance (USD/boe) (Mboepd) 150 9.00 (1) 120 70 to 75 32 32 5 2015 2016 J. Sverdrup J. Sverdrup 2015 2016 J. Sverdrup Guidance Phase 1 Plateau Guidance Plateau (1)…
  20. January 2017 Corporate Presentation – Lundin Petroleum – slide 20
    Lundin Petroleum Appendix Lundin Petroleum 20
  21. January 2017 Corporate Presentation – Lundin Petroleum – slide 21
    Lundin Petroleum Operational Areas Norway assets represent 96% of the Companys total reserves and approx 83% of the 2016 production guidance. Norway Netherlands France Russia Exploration Development Production Malaysia…
  22. January 2017 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. January 2017 Corporate Presentation – Lundin Petroleum – slide 23
    Gas, 4% Lundin Petroleum 2P Reserves Oil & NGL, 96% Total 743.5 MMboe South East Asia Continental Europe MMboe NORWAY 96% End 2015 685.3 - 2016 Production -26.6 + Sales/Acquisition +29.5 + Reserve Additions (excl.…
  24. January 2017 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. January 2017 Corporate Presentation – Lundin Petroleum – slide 25
    Lundin Petroleum 2016 Production 2016 Malaysia 12% Alvheim hub 20% Netherlands 2% 2016 production of 72,600 boepd France 3% Q4 2016 production of 83,400 boepd Norway Other 5% Positively impacted by Edvard Grieg and Alvheim…
  26. January 2017 Corporate Presentation – Lundin Petroleum – slide 26
    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 November…
  27. January 2017 Corporate Presentation – Lundin Petroleum – slide 27
    Edvard Grieg Transaction Deal Completed 30 June 2016 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…
  28. January 2017 Corporate Presentation – Lundin Petroleum – slide 28
    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 Edvard Grieg, Ivar Aasen and Johan Sverdrup PL625 44 MMboe…
  29. January 2017 Corporate Presentation – Lundin Petroleum – slide 29
    Norway - Brynhild (WI 90%) First Nine Months 2016 Net Production 2,600 boepd Brynhild field Haewene Brim FPSO performance improving Injector (A4) Water handling constraints resolved Integrity issues being resolved Water…
  30. January 2017 Corporate Presentation – Lundin Petroleum – slide 30
    Malaysia Exploration and Production 14.3 MMboe gross 2P reserves(1) 96 MMboe gross contingent resources(1) Bertam 2016 net production guidance 8,450 boepd Bertam (WI 75%) Malaysia Sabah Peninsular Malaysia WF12176 p16…
  31. January 2017 Corporate Presentation – Lundin Petroleum – slide 31
    Malaysia Bertam First Nine Months Net Production: 8,700 boepd Bertam field Bertam-3 Good reservoir and facilities performance Field Extension 100% Uptime in Q3 2016 A15 well completed with excellent results Commenced…
  32. January 2017 Corporate Presentation – Lundin Petroleum – slide 32
    France & Netherlands First Nine Months 2016 Net Production 4,200 boepd Mature Producing Assets Long life steady production and cash flow Low capital requirement Offshore Netherlands France Netherlands Onshore Hydrocarbon…
  33. January 2017 Corporate Presentation – Lundin Petroleum – slide 33
    2016-2017 Drilling Schedule Well LUPE 2016 2017 Country Licence - Prospect type Operator WI % Q3 Q4 Q1 Q2 Q3 Q4 1 Norway PL609 - Alta-3 test app Lundin 40.00 Completed 2 Norway PL609 - Neiden re-entry exp Lundin 40.00 Discovery…
  34. January 2017 Corporate Presentation – Lundin Petroleum – slide 34
    Lundin Petroleums Shareholder structure Shareholders Others, 9% Retail, 9% Lundin Family, 29% Number of shares in issue: 340.4 million Institutional Investors, 33% Average traded volume per trading day in 2016: 1.2 million…

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