Agenda 2017 delivery Tony Durrant Financial results Richard Rose Producing and development portfolio Robin Allan Outlook Tony Durrant August 2017 P2
2017 a year of strong delivery Production Cost Base Disposals Catcher 1H Highlight 1H Highlight 1H Highlight 1H Highlight Record production of Opex of 14.7/boe; Wytch Farm and FPSO on schedule; 82.1 kboepd FY capex guidance Pakistan…
Financial results Richard Rose
Financial highlights 1H Revenue 566 million 1H 2016: 394 m Operating Cash Flow 292 million 1H 2016: 108 m Operating Costs 14.7/boe 1H 2016: 16.5/boe Profit After Tax 41 million 1H 2016: 167 m * Capex 136 million 1H 2016:…
Positive cash flow in 1H 6 months 6 months Capital expenditure (m) to 30 June to 30 June 400 2017 2016 Abandonment 325 Development 300 Working Interest production (kboepd) 82.1 61.0 Exploration Entitlement production (kboepd)…
Net debt and refinancing Net debt Comprehensive refinancing completed Facilities confirmed 1 Net debt of 2.7bn, reduced from YE2016 4.0 bn Cash & position 3.4 bn Undrawn Net debt/EBITDAX(1) ratio of 4.5x at 30 June 2017 Drawn…
Financial outlook Operating Costs Capex 2014-2017 2014-2017 Down from c20/boe…
Producing and development portfolio Robin Allan
Production overview UK accounts for c. 55% of production Largest 5 fields account for c. 70% of production August 2017 P10
Development portfolio 800 mmboe of discovered but undeveloped reserves and resources August 2017 P11
Catcher on schedule for start up by year end All 12 wells planned pre-first oil now Marine trials underway complete confirming good quality light oil Sailaway to North Sea Subsea activities complete; short campaign imminent to…
Catcher continuing positive drilling results 12 wells completed to date (4 on each of Varadero Catcher, Varadero and Burgman fields) Good test results: Net pay encountered by the 8 production wells 30 % longer than forecast Initial…
Tolmount infrastructure partnership Partnership with Dana Petroleum and CATS Management Ltd (1) PMO Dana and CML will jointly own: CML 19% platform 31% Capex export pipeline Split Tolmount gas will use the facilities LoF tariff…
Tolmount progressing on schedule for FID in 1H 2018 Development concept selected Q1 Dimlington Terminal 1 bcf gas processing capacity, 600 mmscfd installed compression capacity Initial phase: targeting 540 Bcf resources plus additional…
Tolmount future phases planned Tolmount East Subsea tie-back or small platform 2019 well planned to confirm resource Tolmount Tolmount Far East area Mongour Tolmount 1 Tcf Far East Subsea tie-back or small platform to Tolmount or…
Zama-1 oil discovery - volume estimates W Zama-1 Well E Major hydrocarbon discovery in shallow water, offshore Mexico Initial gross oil in place estimates are 1.2 1.8 Bnbbls (unrisked Full stack reprocessed P90-P10 resources of…
Zama illustrative development scenario Location of Zama discovery Indicative development metrics Resources 400-800 mmboe1 Zama Daily peak production 100-150 kbopd Hokchi Capex +/- 1.8 billion Amoca Appraisal 2018-19 First oil…
Outlook Tony Durrant
Delivering on our strategy Acquisitions Opportunistic acquisitions Stakeholder Returns Production Development Exploration 80 kboepd Operated Proven basins FPSOs Under drilled Partner-funded Value Costs 16/bbl Debt…
Future plans Portfolio Management Acquisitions Portfolio Management Disposals Disposals by majors Non core assets Tax optimisation Mitigating risk Stakeholder Returns Production Development Exploration Continuing Catcher High…
August 2017 www.premier-oil.com Premier Oil Plc 23 Lower Belgrave Street London SW1W 0NR Tel: +44 (0)20 7730 1111 Fax: +44 (0)20 7730 4696 Email: premierpremier-oil.com
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