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First nine months 2018 – Lundin Petroleum

Lundin Petroleum · Nov 7, 2018 · 25 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. First nine months 2018 – Lundin Petroleum – slide 1
    Operations & Financial Update First Nine Months 2018 Alex Schneiter, President & CEO Teitur Poulsen, CFO 7 November 2018 WF12472 5 Nov 18
  2. First nine months 2018 – Lundin Petroleum – slide 2
    First Nine Months 2018 Highlights Strong Production Low Operating Costs First 9 months 2018: 80.8 Mboepd First 9 months 2018: 3.49 USD/boe Q3 2018: 78.2 Mboepd Reduced…
  3. First nine months 2018 – Lundin Petroleum – slide 3
    Lundin Petroleum Consistent Quarterly Delivery of Production Guidance 90 80.8 80 Mboepd Production (Mboepd) 70 60 Production Guidance 50 40 30 20 Operating cost (USD/boe) 10 3.49 USD/boe 0 WF12472 Q3 p03…
  4. First nine months 2018 – Lundin Petroleum – slide 4
    Lundin Petroleum 2018 Production First nine months 2018 production of 80.8 Mboepd In line with mid-point of updated guidance 2018 Production Efficiency Underpinned by strong facilities and reservoir performance Edvard Grieg 2018…
  5. First nine months 2018 – Lundin Petroleum – slide 5
    Edvard Grieg Continues to Perform Above Expectations Reservoir performance continues to exceed expectations Well potential is double facility Edvard Grieg contractual capacity No material water production Production plateau…
  6. First nine months 2018 – Lundin Petroleum – slide 6
    Alvheim Area Continue to Add Resources Kameleon infill well completed Frosk area potential 200 MMboe gross - start-up early 2019 Froskelr and Rumpetroll exploration wells (2) Gekko appraisal well success November 2018 Frosk…
  7. First nine months 2018 – Lundin Petroleum – slide 7
    Johan Sverdrup Key Metrics Keep Improving GROSS RESOURCES PRODUCTION CAPACITY BREAK EVEN PRICE GROSS CAPEX(1) Phase 1 Full Field Phase 1 Phase 2 2.23.2 billion boe First oil Nov 2019 First oil Q4 2022 Full Field PDO 123 Bn NOK(2)…
  8. First nine months 2018 – Lundin Petroleum – slide 8
    Johan Sverdrup Phase 1 - Key Milestones being Delivered on Schedule Phase 2 Phase 1 first oil PDO submitted expected Nov 2019 Drilling Process LQ Topsides Riser Installation Schedule Power from Shore Riser Drilling Process…
  9. First nine months 2018 – Lundin Petroleum – slide 9
    Loppa High Southern Lundin Petroleum Alta/Gohta Barents Sea Appraisal - Progressing Resources to Reserves 115390 MMboe (1) Hammerfest Luno II appraisal success Gross resources increased to 40100 MMboe Harstad Equity alignment…
  10. First nine months 2018 – Lundin Petroleum – slide 10
    Lundin Petroleum Pipeline of Potential New Projects 6 potential new projects 2018 2019 2020 2021 2025 2025 Appraisal PDO First oil Luno II Appraisal EWT sanction EWT first oil Rolvsnes Phased development Discovery Appraisal…
  11. First nine months 2018 – Lundin Petroleum – slide 11
    Southern Barents Sea Lundin Petroleum Gjkasen exploration well Exploration Programme 2018 programme - 5 wells remaining Targeting net unrisked resources of 400 MMboe 3 high impact wells - Silfari, Oppdal/Driva, Gjksen 2 key…
  12. First nine months 2018 – Lundin Petroleum – slide 12
    First Nine Months 2018 Financial Highlights Third First Quarter 9 months 2018 2018 Production (boepd) 78.2 80.8 Average Brent oil price (USD/boe) 75.16 72.13 Operating costs (USD/boe) 3.88 3.49 Operating cash flow (MUSD)…
  13. First nine months 2018 – Lundin Petroleum – slide 13
    First Nine Months 2018 Operating Cash Flow Price/boe +39% Production -7% 1,500 1,500 1,428.7 1,350 1,350 30% 1,200 1,200 1,095.5 1,050 1,050 900 900 Million USD 750 750 Price/boe +37% 600 Production -12% 600…
  14. First nine months 2018 – Lundin Petroleum – slide 14
    First Nine Months 2018 EBITDA 1,500 1,467.7 1,500 1,350 1,350 37% 1,200 1,200 1,071.7 1,050 1,050 Million USD 900 900 750 750 600 600 503.5 450 32% 450 382.4 300 300 150 150 WF12474 Q3 p03 10.18 0 0…
  15. First nine months 2018 – Lundin Petroleum – slide 15
    First Nine Months 2018 Free Cash Flow 500 489.7 500 400 400 Million USD 300 300 10 times 228.7 200 200 238% 100 100 67.6 43.1 0 0 First 9 months First 9 months Third Quarter Third Quarter 2017 2018 2017…
  16. First nine months 2018 – Lundin Petroleum – slide 16
    Financial Results EBITDA - OCF - FCF EBITDA Operating Cash Flow Free Cash Flow 600 300 503.5 500 250 461.1 228.7 EBITDA, OCF (MUSD) 400 200 300 150 200 Free Cash Flow (MUSD) 100 100 50 0 0 -50…
  17. First nine months 2018 – Lundin Petroleum – slide 17
    First Nine Months 2018 Net Results after Tax 450 450 431.8 400 400 350 350 327.4 (1, 3) 300 300 Million USD 250 250 230.5 227.0 200 200 116% 150 150 106.9 100 100 78% 73.4 50 41.3 62.6 (2) 50 Adjusted for…
  18. First nine months 2018 – Lundin Petroleum – slide 18
    First Nine Months 2018 Income Statement Revenue & Other income MUSD 1,587.3 (1) 80,800 boepd Production costs 68.92 USD/boe MUSD 105.8 1,600 1,600 1,500 1,500 Cash Margin 1,400 1,400 MUSD 1,483.4 Margin on oil from third…
  19. First nine months 2018 – Lundin Petroleum – slide 19
    First Nine Months 2018 Realised Prices 74.04 74.09 71.48 70.84 70 66.23 64.53 62.41 60 58.87 USD/bbl Brent 52.82 51.57 Oil price achieved 50 Blended oil & gas price achieved 40 0 WF12474 Q3 p07…
  20. First nine months 2018 – Lundin Petroleum – slide 20
    First Nine Months 2018 Operating Costs 50 5 4.54 4.27 41.9 40.6 40 3.82 3.88 4 36.2 3.52 (2) 35.2 33.9 (2) 30 28.4 (1) 3 USD/boe MUSD 2.78 (1) 20 2 Unit operating cost after tariff income netting Reversal…
  21. First nine months 2018 – Lundin Petroleum – slide 21
    First Nine Months 2018 G&A / Financial Items Third Quarter First 9 months 2018 2018 General & Administration Expenses MUSD MUSD General & administration 3.2 14.3 Long Term Incentive Plan 1.0 3.4 4.2 17.7 Net Financial Cost…
  22. First nine months 2018 – Lundin Petroleum – slide 22
    First Nine Months 2018 Cash Flow, Debt Position and Liquidity 1,285.6 Facility Size 5 Bn USD Available Liquidity 1.4 3.9 Bn USD 3.6 Headroom -795.9 MUSD Bn USD Free Cashflow MUSD 489.7 -310.0 -153.1 -14.3 -17.3…
  23. First nine months 2018 – Lundin Petroleum – slide 23
    2018 Latest Guidance Compared to CMD Latest CMD Guidance Production Guidance (Mboepd) 7482 7882 Operating costs (USD/boe)…
  24. First nine months 2018 – Lundin Petroleum – slide 24
    Lundin Petroleum Industry Leading Value Creation Delivering on our organic growth strategy Capacity to significantly grow dividends Significant, long-term free cash flow generation Leading production growth trajectory…
  25. First nine months 2018 – Lundin Petroleum – slide 25
    www.lundin-petroleum.com

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