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January 2019 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · Jan 16, 2019 · 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 2019 Corporate Presentation – Lundin Petroleum – slide 1
    Corporate Presentation January 2019 01 Nov 18 WF12414
  2. January 2019 Corporate Presentation – Lundin Petroleum – slide 2
    Lundin Petroleum A Leading European Independent E&P Company Dividend Payment 4 SEK/share 340 320 300 280 9.5 Bn USD 1 Bn boe 260 IPC Spin-off 240 Market Cap Resource base 410 MUSD 220 200 180 160 Mboepd…
  3. January 2019 Corporate Presentation – Lundin Petroleum – slide 3
    Southeastern Trend Lundin Petroleum Southern Barents Sea 7.3 billion barrels(2) Norway Pure Play Loppa High Hammerfest Organic growth strategy NCS ranks in top 10 worldwide exploration areas(1) Harstad Significant yet to find…
  4. January 2019 Corporate Presentation – Lundin Petroleum – slide 4
    Lundin Petroleum Key Operational Metrics Strong track record of organic growth and delivery 2P Reserves Production Operating Costs Operating Cash Flow 726 745 86 714 7882 10.7 654 1,530 59 Net Mboepd Net MMboe Million…
  5. January 2019 Corporate Presentation – Lundin Petroleum – slide 5
    Lundin Petroleum Long-term Production Growth Production Guidance (Mboepd) Opex Guidance (USD/boe) 10.70 160 130 6.80 86 78-82…
  6. January 2019 Corporate Presentation – Lundin Petroleum – slide 6
    Lundin Petroleum Financially Transformational-Years Ahead 5 70 USD/bbl + 2% pa escalation 55 USD/bbl + 2% pa escalation Dividends 4 2018 EBITDA Billion USD 4 SEK/share 3 ly n aseO e C 2019 Bas 2 1.8 350 MUSD 1.5(1)…
  7. January 2019 Corporate Presentation – Lundin Petroleum – slide 7
    Lundin Petroleum Commitment to Low Carbon Intensity One of lowest carbon intensity oil companies in World Significant reduction at Edvard Grieg from 2022 through power from shore 25% of R&D funding towards emission reduction 20…
  8. January 2019 Corporate Presentation – Lundin Petroleum – slide 8
    Alvheim Area Lundin Petroleum Key Assets Alvheim Volund Production Development Byla Production Edvard Grieg Johan Sverdrup WF12414 p18 02.18 Utsira High Area Lundin Petroleum 8
  9. January 2019 Corporate Presentation – Lundin Petroleum – slide 9
    Lundin Petroleum Edvard Grieg Significant Reserves Increase 2018 production efficiency year to date 97% (guided at 95%) OPEX 3.74 USD/boe(1) 2018 year-end reserves increase (+7 MMboe gross) Production extended by six months to mid…
  10. January 2019 Corporate Presentation – Lundin Petroleum – slide 10
    Edvard Grieg Production Plateau Extended by Over 2 Years Potential for production plateau to continue to shift to the right Gross Production (Mboepd) End Plateau 2P Reserves 3P Reserves PDO Plateau mid-2020 Plateau to…
  11. January 2019 Corporate Presentation – Lundin Petroleum – slide 11
    Lundin Petroleum Alvheim Area Continuous Reserves Growth Alvheim Gross Reserves/Resources (MMboe)(1) 605 Strong reservoir performance 492 Portfolio of good infill drilling opportunities +91% Frosk area potential 200 MMboe (3)…
  12. January 2019 Corporate Presentation – Lundin Petroleum – slide 12
    Lundin Petroleum Organic Growth Strategy - Big Fields Get Bigger 3,400 3P Reserves(2) 2C Contingent Resources 3,200 Cumulative Production 3,000 Remaining 2P Reserves(1) 2,800 2,600 18% 2,400 2,200 600 Gross MMboe…
  13. January 2019 Corporate Presentation – Lundin Petroleum – slide 13
    Lundin Petroleum Johan Sverdrup - Key Numbers 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…
  14. January 2019 Corporate Presentation – Lundin Petroleum – slide 14
    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…
  15. January 2019 Corporate Presentation – Lundin Petroleum – slide 15
    Lundin Petroleum Organic Growth Strategy - Significant Near-term Upside Potential Southeastern Trend Loppa High 6 50% core increase in Hammerfest exploration acreage footprint from last year areas Harstad 4…
  16. January 2019 Corporate Presentation – Lundin Petroleum – slide 16
    Lundin Petroleum Current Exploration Programme Southern Barents Sea Southern Barents Sea Gjkasen exploration well Pointer/Setter exploration well 3 wells currently drilling Gjksen, Pointer/Setter, Froskelr Area upside…
  17. January 2019 Corporate Presentation – Lundin Petroleum – slide 17
    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…
  18. January 2019 Corporate Presentation – Lundin Petroleum – slide 18
    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…
  19. January 2019 Corporate Presentation – Lundin Petroleum – slide 19
    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…
  20. January 2019 Corporate Presentation – Lundin Petroleum – slide 20
    Lundin Petroleum Key Messages Lundin Petroleum 10.7 OPEX Production Guidance Appendix (USD/boe) (Mboepd) 150 120 6.8 86.1 4.5 59.3 4.25 20.7 32 2015 2016 2017 J. Sverdrup J. Sverdrup 2015 2016 2017 J. Sverdrup Phase 1…
  21. January 2019 Corporate Presentation – Lundin Petroleum – slide 21
    Lundin Petroleum Cash Flow, Debt Position and Liquidity - First 9 Months 2018 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…
  22. January 2019 Corporate Presentation – Lundin Petroleum – slide 22
    Lundin Petroleum Funding and Liquidity - 2018 Guidance 2018 Guidance, Brent 65 USD/boe 100 60 80 USD/boe 60 39 9 45 40 39 6 20 0 Liquidity OCF(1) Capex/ Finance/ 2017 Liquidity Headroom E&A G&A Dividends…
  23. January 2019 Corporate Presentation – Lundin Petroleum – slide 23
    Lundin Petroleum Organic Value Creation Through Innovation New reservoirs and plays Maximising recovery Cutting-edge technology Subsurface expertise TOPSEIS WF12414 p19 11.18 Developed by Lundin and CGG…
  24. January 2019 Corporate Presentation – Lundin Petroleum – slide 24
    Lundin Petroleum Year-end 2018 Net Reserves and Resources (MMboe) 3P RRR(3): 118% 3P RLI(4): 29 Years 2P RRR(3): 163% 2P RLI(4): 24 Years (1) 2P Reserves is Proved plus Probable remaining reserves (2) 3P Reserves is…
  25. January 2019 Corporate Presentation – Lundin Petroleum – slide 25
    Lundin Petroleum Shareholder Structure Listed on Nasdaq Stockholm Shares in free-float approx. 52% Tickers: LUPE.SS, LUPE.ST, ADR: LUPEY Rest of the World 11% Sweden Lundin Family 28% 18% Institutional USA 26% Scandinavia…
  26. January 2019 Corporate Presentation – Lundin Petroleum – slide 26
    Lundin Petroleum ESG Supported Initiatives Global Reporting Extractive Industry Initiative (GRI) Transparency Initiative Reporting according to the GRI G4 Guidelines. Support and promotion of EITIs efforts to combat…
  27. January 2019 Corporate Presentation – Lundin Petroleum – slide 27
    www.lundin-petroleum.com

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