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January 2018 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Jan 11, 2018 · 27 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 2018 Corporate Presentation – Lundin Petroleum – slide 1
  2. January 2018 Corporate Presentation – Lundin Petroleum – slide 2
    2015 2016 2017 Cash operating cost (USD/boe) Production (Mboepd) >85 Mboepd (1)
  3. January 2018 Corporate Presentation – Lundin Petroleum – slide 3
    WF12310 p01 02.17 Organic growth strategy Strong production growth with low operating costs Resource base of ~1 billion barrels Lundin Petroleum At a Glance Geographical Focus Norway pure play
  4. January 2018 Corporate Presentation – Lundin Petroleum – slide 4
    Lundin Petroleum Key Metrics 2P Reserves Production Cash Operating Costs Grow resource base and production organically with a disciplined geographical focus 0 100 200 300 400 500 600 700 800 0 10 20 30 40 50 60 70 80…
  5. January 2018 Corporate Presentation – Lundin Petroleum – slide 5
    Lundin Petroleum Financial Highlights - First Nine Months 2017 Operating Cash Flow from continuing operations EBITDA from continuing operations Net Result from continuing operations 200 0 400 600 800 1,000 1,200 475.8…
  6. January 2018 Corporate Presentation – Lundin Petroleum – slide 6
    WF12168 p20 02.17 Norway Forecast Development Expenditure on Committed Projects 1,000 2017 2018 2019 2020 Forecast Development Expenditure (Million USD) Johan Sverdrup Phase 1 Johan Sverdrup Phase 2 Edvard Grieg drilling Alvheim…
  7. January 2018 Corporate Presentation – Lundin Petroleum – slide 7
    WF12310 p07 05.17 Lundin Petroleum Debt ~ USD 1 billion Available Liquidity Headroom USD 5.0 billion RBL secured Attractive margin: 315 bps No amortisation until end 2020 Fully funded up to Johan Sverdrup first oil at average…
  8. January 2018 Corporate Presentation – Lundin Petroleum – slide 8
    WF12310 p04 08.17 Norway Investment Framework Lundin Petroleum Fiscal Regime: 78% tax credit on E&A spend 90% tax credit on development spend over 4?6 years Interest deductibility Licensing Regime: Annual licensing rounds Awards…
  9. January 2018 Corporate Presentation – Lundin Petroleum – slide 9
    WF12303 p05 06.17 PDO Gross Edvard Grieg Estimated Ultimate Recovery (MMboe) Cumulative Production 3P Reserves Remaining 2P Reserves 186 2016 223 Lundin Petroleum Edvard Grieg Platform Luno II (WI 50%) SW Area 310 Luno II…
  10. January 2018 Corporate Presentation – Lundin Petroleum – slide 10
    WF12303 p14 09.17 Lundin Petroleum Continuous Reserves Growth ? Alvheim Area Strong reservoir performance Facilities well managed Production decline arrested by infill drilling ? keeps operating costs low Portfolio of good infill…
  11. January 2018 Corporate Presentation – Lundin Petroleum – slide 11
    WF12298 p40 01.18 Gross Resources: 2.0 - 3.0 billion boe Processing platform 1 Living Quarters Riser platform Processing platform 2 Wellhead & Drilling platform Largest Phase 1 development on NCS Phase 1 progressing to schedule…
  12. January 2018 Corporate Presentation – Lundin Petroleum – slide 12
    F12378 p13 07.17 Johan Sverdrup Phase 1 ? Key Milestones Being Delivered on Schedule Riser platform jacket installed - July 2017 Drilling Platform Topsides assembled - September 2017 Norway Drilling Platform Topsides Riser…
  13. January 2018 Corporate Presentation – Lundin Petroleum – slide 13
    WF12298 p09 09.17 Johan Sverdrup Lundin Petroleum PDO (1) 207 Bn NOK Current(2) 132?147 Bn NOK Phase I 440 Mbopd Full Field 660 Mbopd FULL FIELD GROSS CAPEX TOTAL SAVING PRODUCTION CAPACITY (1) Nominal, NOK6:USD (2) Nominal…
  14. January 2018 Corporate Presentation – Lundin Petroleum – slide 14
    F12297 p08 08.17 Lundin Petroleum Big Fields Get Bigger 2C Contingent Resources 3P Reserves Cumulative Production 2P Reserves 600 400 100 500 300 200 0 2,200 2,400 2,600 2,800 3,000 3,200 Gross MMboe Alvheim Area PDO…
  15. January 2018 Corporate Presentation – Lundin Petroleum – slide 15
    F12310 p05 01.18 Lundin Petroleum Low Carbon Footprint Norway World North America 0 5 10 15 20 25 30 35 40 kgCO2 e/boe 2016 Greenhouse Gas Emissions Intensity Norway has one of the lowest carbon emission rates per barrel…
  16. January 2018 Corporate Presentation – Lundin Petroleum – slide 16
    F12378 Q3 p26 01.18 Appraisal Focus Lundin Petroleum Significant resource upside in existing field areas Alta/Gohta appraisal drilling/testing in 2017 - Completed Alta EWT in 2018? Rolvsnes appraisal drilling/testing in 2018…
  17. January 2018 Corporate Presentation – Lundin Petroleum – slide 17
    WF12378 Q3 p09 01.18 Exploration Strategy Lundin Petroleum NCS ranks in top 10 worldwide exploration areas (2) NCS > 16 billion barrels yet to find (1) Southern Barents Sea ~50% resource potential Underexplored - 117 wildcat wells…
  18. January 2018 Corporate Presentation – Lundin Petroleum – slide 18
    WF12392 p06 01.18 Exploration Strategy Lundin Petroleum Fr?ya High/Froan Basin - New Core Area - Building new core area ? licensing rounds - Maturing prospectivity >2 Bn boe(2) for 2019 drilling Mandal High ? New Core Area -…
  19. January 2018 Corporate Presentation – Lundin Petroleum – slide 19
    WF12310 p15 01.18 Lundin Petroleum Key Messages Strong production growth with low operating costs Exciting organic growth strategy Continued strong focus on cost discipline and operating efficiency Responsible operator with focus on…
  20. January 2018 Corporate Presentation – Lundin Petroleum – slide 20
  21. January 2018 Corporate Presentation – Lundin Petroleum – slide 21
    WF11543 p5 01.17 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 2016 Production (boepd) Average Brent oil price…
  22. January 2018 Corporate Presentation – Lundin Petroleum – slide 22
    WF12310 p10 02.17 0 5 10 15 20 25 30 Years Lundin Petroleum Peer Comparison ? Reserves Life Index (1) (1) Data Source: based on latest 2P reserves and production data disclosed by peer group companies Peer Group: Aker BP,…
  23. January 2018 Corporate Presentation – Lundin Petroleum – slide 23
    WF12378 p02 07.17 Edvard Grieg 92% 2017 Production Lundin Petroleum First Nine Months Production Efficiency (%) Alvheim Area 97% Annual CMD, 93% Annual CMD, 95% First nine months production of 87.1 Mboepd Q3 production of 89.2…
  24. January 2018 Corporate Presentation – Lundin Petroleum – slide 24
    F12378 p19 10.17 Edvard Grieg Reservoir Performance WI2 WI3 WI5 WI1 OP2 OP1 OP4 OP5 OP10 EG Southwest appraisal OP3 Southwest appraisal well 10?30 MMboe gross resource upside Potential resource upside in other areas of the…
  25. January 2018 Corporate Presentation – Lundin Petroleum – slide 25
    WF12302 p03 06.17 Utsira High Lundin Petroleum Norway Utsira High Operator Lundin Petroleum licences Partner Oil field/discovery Gas Prospect/lead Goddo Lille Prinsen Bokn Fignon Apollo Luno II North Luno II Ivar…
  26. January 2018 Corporate Presentation – Lundin Petroleum – slide 26
    WF12346 p01 07.17 Creating Shared Value from Responsible Energy Management Lundin Petroleum Norwegian oil and gas sector is #1 in the Resource Governance Index (RGI) Operating in the world class governance environment of Norway gives…
  27. January 2018 Corporate Presentation – Lundin Petroleum – slide 27
    WF11003 p01 01.18 Number of shares in issue: 340.4 million Average traded volume per trading day in 2017: ~0.9 million shares (1) Part of OMX30, NASDAQ Stockholm Shares in free-float approx. 51% source: IPREO End August 2017 (2)…

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