Faroe Petroleum Corporate Presentation May 2017 Faroe Petroleum plc Company Presentation September 2016
Faroe Petroleum overview Building the leading pan-North Sea independent Diversified, full-cycle portfolio in UK & Norway Total average production1 2016 Hub-focused strategy to unlock synergies 17,395 boepd Material growth from…
Strategic summary Positioned for organic & inorganic growth Strategically Financial Growth positioned flexibility focused Diversified portfolio in Robust Strong growth UK balance sheet from existing & Norway portfolio Prudent…
Track record of delivery Combining full cycle projects with M&A to create significant value YE16 2P Reserves 2016 Avg Production 81 17,395 mmboe boepd increase increase between 57.4 between 2012-2016 2012-2016 10.5 9.1…
Organic growth potential for 40+ kboepd Fully funded for current programme Note: this chart relates to existing, defined projects; it is illustrative and not forward guidance Production kboepd 40+ Pil Brasse 20 - 30 Bauge…
A diversified portfolio with hub focus Unlocking synergies & delivering material growth from North Sea asset base Focus on value growth in core hub areas Uniquely placed to realise synergies with hub-focused strategy Active full cycle…
Brage hub area: Brage (Faroe 14.3%) Incremental project to deliver 2018 production growth Overview Large STOOIP (1,000 mmbbls) Net 2P Reserves at 5.0 mmboe at 1 Jan 2017 Net 2016 production c. 2,400 boe/d Wintershall 35.2% and…
Brage hub area: Brasse (Faroe 50% and operator) Robust, simple subsea development project with excellent address PL740 Brasse oil and gas discovery July 2016 Simple structure similar quality to Brage Good reservoir communication…
Brage hub area: Brasse extension (Faroe 50% & operator) Possible 2017/18 exploration well Troll East Troll East 31/7-1 31/7-1 A Brasse Extension: New acreage Jan-17 In January 2017, Faroe was awarded PL740B Brasse…
Ula hub area: Ula (Faroe 20%) Significant upside from further infill drilling and WAG reinjection scheme Field development Net 2P Reserves at 6.5 mmboe at 1 Jan 2017 (Ula only) Host facility for the Blane, Oselvar and Tambar fields and…
Ula hub area: Tambar (Faroe 45%) Gas lift and new infill wells Overview AkerBP 55% and operator Net 2P Reserves at 9.8 mmboe at 1 January 2017 Net 2016 production c. 2,200 boe/d Artificial lift Retrofit gas lift system (straddle) in…
Ula hub area: Oda1 (Faroe 15%) Simple, high-return oil development via Ula hub infrastructure High value project Centrica 40% and operator, AkerBP 15% and Suncor 30% 66m water depth - excellent quality reservoir, light oil Subsea…
Njord hub area: Njord (Faroe 7.5%) + Pil & Bue (Faroe 25%) Attractive projects with excellent upside Njord Future Project Snilehorn FDP submitted & Hyme In dry dock for hull reinforcements and modifications Njord Bauge to be…
Njord hub area: significant further exploration potential Material 2P reserves, future production and significant prospect inventory PL433 Fogelberg Faroe has material position in the prolific Halten Faroe 25% PL888 Canela Faroe 40%…
Exploration and appraisal activity Outstanding low-cost opportunities in world class exploration province Excellent exploration performance Aerosmith Faroe 20% Canela Faroe 40% 2 discoveries in 4 wells in 2016/17 (Brasse & Njord N…
Financial summary Highlights and outlook 2016 Results Revenue (excluding hedging) 94.8m (2015: 113.0m) EBITDAX (incl. 4.7m realised hedging gains) 25.8m (2015: 60.5m) Production 2017 production guidance of 13-15,000 boepd (approx. 58%…
Summary Strong recovery play in E&P sector - well placed for growth Solid and proven business model delivering sustainable value growth, through the drill-bit and transactions Exploration-led strategy continues - underpinned by…
Executive team Graham Stewart Helge Hammer Jonathan Cooper Chief Executive Officer Chief Operating Officer Chief Financial Officer Instrumental in founding Faroe Joined Faroe Petroleum in 2006 Joined Faroe Petroleum as Chief…
Faroe Petroleums shares Shareholder structure Aviva: 7% Other Number of Average traded Blackrock: 8% institutional shares in issue volume per day in 2016 47% JP Morgan: 8% Fidelity: 9% 366.5m 1.3m Retail: 8% Delek: 13%…
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