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3Q 2018 Earnings Presentation – Aker BP

Aker BP · Oct 19, 2018 · 24 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. 3Q 2018 Earnings Presentation – Aker BP – slide 1
    Third Quarter 2018 Aker BP ASA Karl Johnny Hersvik, CEO Alexander Krane, CFO 19 October 2018
  2. 3Q 2018 Earnings Presentation – Aker BP – slide 2
    AKER BP ASA Highlights Oil & gas production, mboepd net Operations 180 Q3 production 151 mboepd 160 Positive appraisal results dry wildcats Field development projects on track 140 120 Finance Q3 EBITDA USD 736 million, EPS USD…
  3. 3Q 2018 Earnings Presentation – Aker BP – slide 3
    Financials Third Quarter 2018
  4. 3Q 2018 Earnings Presentation – Aker BP – slide 4
    FINANCIALS Statement of income (USD million) Q3 2018 Q2 2018 Q3 2017 FY 2017 Total operating income 1,000 975 596 2,563 Production costs 165 164 134 523 Other operating expenses 4 1 3 28 EBITDAX 830 810 459 2,012 Exploration expenses…
  5. 3Q 2018 Earnings Presentation – Aker BP – slide 5
    FINANCIALS Statement of financial position Assets Equity and liabilities (USD million) 30.09.18 30.06.18 30.09.17 (USD million) 30.09.18 30.06.18 30.09.17 Goodwill Equity 3,083 3,064 2,502 1,860 1,860 1,817 Other intangible assets…
  6. 3Q 2018 Earnings Presentation – Aker BP – slide 6
    FINANCIALS Second quarter cash flow and liquidity Cash flow (USDm) Strong operating cash flow Higher oil and gas prices Production cost USD 11.9 per boe Capital spending within plan Capex USD 310 million (ex. capitalized interest)…
  7. 3Q 2018 Earnings Presentation – Aker BP – slide 7
    FINANCIALS 2018 Guidance Item Actual YTD per 30 September 2018 Updated 2018 guidance USD 1.25 billion CAPEX* USD 823 million (previous USD 1.3 billion) USD 400 million EXPEX USD 275 million (previous USD 425 million) 155 160…
  8. 3Q 2018 Earnings Presentation – Aker BP – slide 8
    FINANCIALS Acquisition of licence portfolio from Total Strengthening Aker BPs position in core areas Map of acquired licences (ex. Skarv area) 11 licences including 4 discoveries 83 mmboe net recoverable resources Consideration USD 205…
  9. 3Q 2018 Earnings Presentation – Aker BP – slide 9
    FINANCIALS Acquisition of King Lear Planning tie-back to Ula King Lear and Ula Gas/condensate discovery NPD estimate: 99 mmboe gross (42% liquids) Acquisition of Equinors 77.8% interest Consideration USD 250 million Closing…
  10. 3Q 2018 Earnings Presentation – Aker BP – slide 10
    Operations Third Quarter 2018
  11. 3Q 2018 Earnings Presentation – Aker BP – slide 11
    ALVHEIM AREA (65%) Alvheim High regularity and strong performance Kameleon Infill South well Production efficiency 96% Excellent drilling of Kameleon infill well Tri-lateral well with more than 10 km of reservoir drilled First well…
  12. 3Q 2018 Earnings Presentation – Aker BP – slide 12
    ALVHEIM AREA (65%) The success story continues Frosk leaping ahead Gekko resources firmed up Exploration drilling on Froskelr and Rumpetroll Oil column thicker than previously assumed Multilateral production and appraisal well planned…
  13. 3Q 2018 Earnings Presentation – Aker BP – slide 13
    VALHALL AREA (90%) Targeting further improvements at Valhall STMF significant savings potential Q3 production 36.0 mboepd net Time consumption on well stimulation Up 7% from Q2 Production efficiency 88% Completion of new IP wells…
  14. 3Q 2018 Earnings Presentation – Aker BP – slide 14
    VALHALL AREA (90%) P&A campaign successfully completed Average time per well reduced by more than 50 percent Valhall P&A performance 120 Low complexity High complexity Trend 100 80 Days 60 40 20 0 A-25…
  15. 3Q 2018 Earnings Presentation – Aker BP – slide 15
    VALHALL AREA (90%) Valhall projects on track Valhall Flank West Valhall Flank North Water Injection Photo: Hans Petter Helland, Aker BP Photo: Marton Audun Haga, Aker BP. Maersk Invincible arriving at Valhall Flank North 16
  16. 3Q 2018 Earnings Presentation – Aker BP – slide 16
    ULA (80%) / TAMBAR (55%) Rejuvenating Ula as an area hub Ambition to extend lifetime beyond 2040 Significant upside potential in the Ula area Conversion of Ula DP underway Preparing for new drilling campaign next year Oda on track for…
  17. 3Q 2018 Earnings Presentation – Aker BP – slide 17
    ULA (80%) / TAMBAR (55%) King Lear strong synergies with Ula Among the largest undeveloped discoveries on NCS King Lear and Ula Gas/condensate discovery Resource range 60-170 mmboe gross* (NPD: 99) Gas/liquids ratio 60/40 Agreement to…
  18. 3Q 2018 Earnings Presentation – Aker BP – slide 18
    IVAR AASEN (34.8%) Ivar Aasen Water injectors completed Hanz appraisal in line with expectations 19
  19. 3Q 2018 Earnings Presentation – Aker BP – slide 19
    SKARV AREA (23.8%) Skarv Temporarily lower gas exports due to increased gas injection rfugl development progressing as planned Alve North acquisition provides new tie-back opportunity 20
  20. 3Q 2018 Earnings Presentation – Aker BP – slide 20
    JOHAN SVERDRUP (11.6%) Johan Sverdrup progressing steadily Photo: Bo Randulff / Equinor 21
  21. 3Q 2018 Earnings Presentation – Aker BP – slide 21
    NORTH OF ALVHEIM / ASKJA / KRAFLA NOAKA field of the future Interest in Rind discovery increased from 30 to 92 percent Preparing for concept selection by year-end Aker BP favors a central processing hub Maximum resource…
  22. 3Q 2018 Earnings Presentation – Aker BP – slide 22
    EXPLORATION Exciting drilling ahead Positive appraisals at Gekko and Hanz in Q3 Dry wells on Slengfehgda, Grspett and Scarecrow Two follow-up wells to Frosk in Q4 Targeting up to 300 mmboe (gross unrisked) Cassidy back on 2018…
  23. 3Q 2018 Earnings Presentation – Aker BP – slide 23
    DIGITALIZATION Continued strong focus and speed on our Digital journey Digital lab running at full speed Delivering tangible results Condition-based maintenance dashboard for valves and dampers Improve tracking of status and use of…
  24. 3Q 2018 Earnings Presentation – Aker BP – slide 24

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