Delivery against 2018 targets 78.4 kboepd ytd; current run rate of 85-90 kboepd Production Forecast full year production at around 80 kboepd Forecast full year opex of 17-18/boe unchanged Cost base Forecast capex of 365m, reduced…
Finance highlights and priorities 2018 ytd highlights Priorities Robust operating cash flow 1. Debt reduction Stable operating costs Targeting 2.5-2.7x EBITDA by end Capex reduced Q1 2019, reducing thereafter Further non-core…
Acceleration of debt reduction Accounting net debt m Factors influencing 2800 2018 debt reduction Production 2600 Commodity prices Timing of cargo lifts 2400 Timing of disposal receipts FX / LIBOR 2200 Capex phasing 2000…
Asia production New acreage Chim So (op, 53.13%) captured 15.6 kboepd…
UK production Catcher (op, 50%) Solan (op, 100%) Huntington (op, 100%) On plateau High uptime Well intervention programme 2020 infill FPSO lease extended to 2020 drilling Maximising uptime Elgin-Franklin (5.2%) Infill drilling /…
Catcher Area at plateau production Production FPSO Wells Outlook Record day rates of Oil plant stable Good reservoir Maximise uptime over 70 kboepd Gas and water communication Evaluate options to Contractual rate to injection plants…
Catcher upside 1. Reserves upside being assessed Positive production results Well-connected sands Good pressure support Reservoir quality above expectations 2. Infill drilling 4D seismic acquisition Burgman East Cromarty and…
Tolmount Main (Operator, 50 per cent) Sanctioned in August Reserves to be booked at year-end Key contracts awarded Platform construction to start Q4 Funding secured Gross Gross Reserves Peak Production Net Capex 500 Bcf 58…
Tolmount infrastructure Infrastructure partnership Tariff structure Dana and HGSL will own the platform and export pipeline and pay for the terminal upgrades Tolmount gas will use the facilities in return for a production based…
Tolmount upside 2018 2019 2020 2021 2022 Sanction Tolmount Construction of Offshore installation Exploration well on 1st gas from Main pipeline of platform, pipeline Tolmount Far East Tolmount East Key contracts Terminal upgrade…
Sea Lion update LOIs with key contractors FPSO Drilling Rig SURF / SPS Well Subsea Helicopter Services Installation Services 160 Focus remains on securing funding Phase 2 Phase 1 Annual average oil rate (kbopd) 140 ahead…
Mexico: Block 7, Zama appraisal Zama-1 discovery made in 2017 Zama-3 400-800 mmbbls (P90-P10); API 30 Zama appraisal programme to start in Q4: Zama-1 Zama-2: tests OWC and Marte prospect Zama-2ST: tests reservoir distribution and…
Mexico: Block 30 exploration, Wahoo & Cabrilla Awarded 30% interest in Round 3.1 A B South west of Zama discovery Analogue to Zama Wahoo: Flat spot similar to Zama 1. Identical trapping geometry 3D seismic acquisition planned for…
Brazil: Cear Basin High impact prospects in stacked targets Block 717 (Premier, 50% operator) A B B matured for drilling 1-CES-075 4-CES-128 Berimbau/Maraca (Block 717) 1-CES-160 Itarema/Tatajuba (Block 661) Berimbau 041…
Indonesia: Tuna appraisal and Andaman II exploration Tuna (Premier, 65% operator) Proven oil and gas discoveries (100 mmboe) Evaluation of potential development scenarios ongoing Outline development scheme confirmed to export gas to…
Balanced capital allocation 7 year capital allocation 2018-2024 100% 30% 20% 40% 10% Net operating Debt Producing New Exploration cash flow reduction assets projects At 65/bbl Positive free cash flow in all years to…
Balanced capital allocation 7 year capital allocation 2018-2024 2018-2019 100% 40% 20% 2018-19 2018-19 -10% +10% 30% 10% Net operating Debt Producing New Exploration cash flow reduction assets projects At 65/bbl…
Future growth plans 2019 2020 2021 UK Catcher Infill & Satellites Tolmount East Tolmount Main Tolmount Far East Solan Infill Asia BIGP Tuna Andaman Sea RoW Zama Brazil 717 & 661 wells Zama Wahoo, Cabrilla Sea Lion Appraisal…
November 2018 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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