Q2 2017 AKER BP ASA KARL JOHNNY HERSVIK, CEO ALEXANDER KRANE, CFO 14 JULY 2017
AKER BP ASA Highlights Production Q2-17 production of 142.7 mboepd 2017 full year guidance increased to 135 - 140 mboepd Finance Q2-17 EBITDA USD 395 million, EPS USD 0.18 Q2-17 Free cash flow* of USD 135 million (USD 0.40 per…
Financials Q2 2017
FINANCIALS Statement of income Income statement (USD million) Q2 2017 Q2 2016 FY 2016 Total operating income 595 256 1,364 Production costs 121 39 227 Other operating expenses 3 5 22 EBITDAX 470 211 1,115 Exploration expenses 75 36…
FINANCIALS Statement of financial position Assets Equity and liabilities (USD million) 30.06.17 30.06.16 (USD million) 30.06.17 30.06.16 Goodwill Equity 2,453 378 1,817 739 Other intangible assets Other provisions for liabilities incl.…
FINANCE Cash flow and liquidity Cash flow Q2 2017 (USD million) Strong cash flow in Q2-17 Free cash flow of USD 135 million Repaid USD 190 million on RBL for cash management purposes Dividend of USD 62.5 million (USD 0.185 per…
FINANCE Changes to the capital structure Liquidity (USD billion) Obtained corporate credit ratings from S&P (BB+) and Cash Undrawn RBL Undrawn RCF Moodys (Ba2) Raised USD 400 million senior notes 0,39 0,33 Fixed interest of 6.0…
FINANCE Updated 2017 guidance Actual year-to-date Old guidance New guidance Item per June 30, 2017 2017 full year 2017 full year Production 144.0 mboepd 128 135 mboepd 135 140 mboepd Production cost USD 9.3 per boe USD 11 per…
Operations Q2 2017
PRODUCTION Oil and gas production Net production* (boepd) Q2-17 production of 142.7 mboepd 78% liquids / 22% gas Continued strong production from Viper-Kobra Realized oil price of 51 USD/bbl, gas price of 0.18 USD/scm Gina Krog…
ALVHEIM AREA (65.0%*) Continues to beat expectations Continued stable and high production in Q2-17 Production efficiency of 98% Production cost of 4.5 USD/boe Ongoing drilling campaign with Transocean Arctic Two infill wells at…
VALHALL (36.0%) / HOD (37.5%) Drilling program ongoing Continued high and stable production in Q2-17 Production efficiency 85% IP Platform drilling program ongoing Seven wells campaign of which three are planned in 2017 Strong…
IVAR AASEN (34.8%) Production ramp-up continues Excellent production performance with high uptime High operational availability of 98.5% Production efficiency 90% due to power issues Strong drilling performance D-12 production…
ULA (80.0%) / TAMBAR (55.0%) Increased production from WAG injection Increased production from Ula/Tambar in Q2-17 Mainly due to WAG effects Production efficiency 69% Tambar development progressing with procurement, engineering…
SKARV AREA (23.8%) Snadd development progressing as planned Stable operations and production 96% production efficiency Test production from Snadd A1H well continues Seismic survey during summer 2017 Snadd project progressing as…
JOHAN SVERDRUP (11.6%) Development on track Project progressing according to plan: Most major contracts have been awarded Platform construction ongoing at 22 different sites globally Construction was approximately 60% complete by…
NORTH OF ALVHEIM KRAFLA/ASKJA Targeting an area solution for NOAKA Statoil, LOTOS and Aker BP have agreed to establish an area forum to evaluate a joint area development for North of Alvheim and Krafla/Askja (NOAKA) Two area…
EXPLORATION Exploration activities 2017 Drilling of the Gohta (NE) and Volund West prospects completed in the second quarter Maersk Interceptor to commence drilling of the Hyrokkin prospect in August, before drilling of the…
IMPROVEMENT Drilling and wells continuous improvement Ivar Aasen production and water injector wells Integrated one team approach continue to deliver improvement and outstanding drilling results Meters / dry hole day excluding coring…
OUTLOOK Closing remarks Efficient and safe operations Execute Deliver PDO on Snadd, Valhall Flank West and Storklakken before year-end Relentless focus on cost reductions and productivity gains Improve Mature projects to…
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