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Q4 2018 Earnings Presentation – Aker BP

Aker BP · Feb 6, 2019 · 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. Q4 2018 Earnings Presentation – Aker BP – slide 1
    Fourth Quarter 2018 Aker BP ASA Karl Johnny Hersvik, CEO David Torvik Tnne, CFO 6 February 2019
  2. Q4 2018 Earnings Presentation – Aker BP – slide 2
    AKER BP 2018 Highlights Production, mboepd EBITDA, USDm Record production and high regularity +12% +54% Execute Industry-leading drilling performance 156 2,748 139 1,786 Field developments on track 2017 2018 2017 2018…
  3. Q4 2018 Earnings Presentation – Aker BP – slide 3
    AKER BP Fourth quarter 2018 highlights Operations Key figures Q4-18 Q4-17 2018 2017 Production increased to 156 mboepd Production mboepd 155.7 135.6 155.7 138.8 New wells on stream at Alvheim and Valhall Field developments on track…
  4. Q4 2018 Earnings Presentation – Aker BP – slide 4
    EXPLORATION Discovery at Froskelr Growing the Alvheim area resource base Preliminary results Oil and gas Within pre-drill range of 45-153 mmboe May straddle UK-Norway border Drilling operation ongoing Coring and data acquisition…
  5. Q4 2018 Earnings Presentation – Aker BP – slide 5
    OPERATIONS Record production and high regularity Production per hub, mboepd Production efficiency per hub Alvheim Valhall Skarv Ivar Aasen Ula Other 2017 2018 97.0% 155.7 158.7 157.8 155.7 92.0% 91.3% 150.6 87.0% 138.8 67.0%…
  6. Q4 2018 Earnings Presentation – Aker BP – slide 6
    NCS DRILLING EFFICIENCY Leading drilling performance Development wells by operator 2018 Exploration wells by operator 2018 250 250 200 200 metres per day metres per day 150 150 100 100 50 50 - - Aker Aker NCS…
  7. Q4 2018 Earnings Presentation – Aker BP – slide 7
    FIELD DEVELOPMENTS ON TRACK Improvement program showing tangible results Example: Valhall Flank West Facility costs -24% (NOKbn) Engineering (mhr/tonnes) -14% Facility construction duration -28% (months) DG2-DG4…
  8. Q4 2018 Earnings Presentation – Aker BP – slide 8
    LEAN MINDSET Reducing cost, waste and emissions CO2 emissions intensity1) The worlds first offshore lifeboat kg CO2 per boe produced (2017) with electric propulsion 27.2 24.6 24.4 17.8 14.8 13.6 11.1 9.2 8.8 7.2 7.0 Latest…
  9. Q4 2018 Earnings Presentation – Aker BP – slide 9
    DIGITALIZATION GAINING MOMENTUM Optimizing production Digitalization with artificial demonstrating its valueintelligence in production optimization Examples Chalk influx a challenge at Valhall Chalk influx By using machine learning…
  10. Q4 2018 Earnings Presentation – Aker BP – slide 10
    STRATEGIC ALLIANCES Reshaping the value chain Alliances established withpillar as a key alliances in improvement agenda 7 alliances established 10 Subsea alliance projects in execution Set up to deliver full facility and D&W…
  11. Q4 2018 Earnings Presentation – Aker BP – slide 11
    OPERATIONAL REVIEW Growing the resource base in 2018 Development in 2P reserves (mmboe) Development in 2C contingent resources (mmboe) 946 914 917 48 56 59 Alvheim area 11% 769 173 NOAKA 33% Skarv area 44 12% Valhall area…
  12. Q4 2018 Earnings Presentation – Aker BP – slide 12
    EXPLORATION PL 1031 PL 1030 2018 exploration highlights PL 1028 PL 1026 PL 902 B Value creation from 2018 exploration PL 1022 120-280 APA 2018 awards to Aker BP USD million1) Frosk oil discovery Gekko appraisal 50…
  13. Q4 2018 Earnings Presentation – Aker BP – slide 13
    Infrastructure Led Exploration (ILX) EXPLORATION Growth exploration 2019 exploration program Gjksen License Prospect Aker BP Pre-drill Operator Vgar share mmboe PL869 Froskelr Main Aker BP 60% 45 - 153 rn PL869 Froskelr NE Aker BP…
  14. Q4 2018 Earnings Presentation – Aker BP – slide 14
    AKER BP New members of Executive Management Team Lene Landy, SVP Strategy & Business Development Lene Landy (born 1979) comes from the position of VP Strategy, Portfolio and Analysis and has been with the company since January 2017.…
  15. Q4 2018 Earnings Presentation – Aker BP – slide 15
    Financial review 16
  16. Q4 2018 Earnings Presentation – Aker BP – slide 16
    FINANCIAL REVIEW 2018 financial highlights USD million Revenues EBITDA Net profit +46% +54% +73% 3,750 2,748 476 2,563 1,786 275 2017 2018 2017 2018 2017 2018 17
  17. Q4 2018 Earnings Presentation – Aker BP – slide 17
    FINANCIAL REVIEW Statement of income USD million Q4 2018 Q3 2018 Q4 2017 2018 2017 Total operating income 886 1,000 726 3,750 2,563 Production costs 187 165 147 689 523 Other operating expenses 8 4 14 17 28 EBITDAX 692 830 565 3,044 2,012…
  18. Q4 2018 Earnings Presentation – Aker BP – slide 18
    FINANCIAL REVIEW Statement of financial position USD million Assets 31.12.18 30.09.18 31.12.17 Equity and liabilities 31.12.18 30.09.18 31.12.17 Goodwill Equity 2,990 3,083 2,989 1,860 1,860 1,860 Other intangible assets Other…
  19. Q4 2018 Earnings Presentation – Aker BP – slide 19
    FINANCIAL REVIEW Fourth quarter cash flow USD million 1,513 1,500 340 717 463 550 447 127 113 45 30.09.2018 Tax refund Debt Drawn Acquisitions Operations Tax paid Investments Dividends 31.12.2018 repayment on RBL before…
  20. Q4 2018 Earnings Presentation – Aker BP – slide 20
    FINANCIAL REVIEW Tax payments USD million 2017 tax 2018 tax 2019 guidance1) 80 80 Taxes paid Scheduled 70 70 80 80 340 70 60 70 60 212 163 106 60 60 67 69 34 34 50 50 50 50 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19…
  21. Q4 2018 Earnings Presentation – Aker BP – slide 21
    FINANCIAL REVIEW Guidance summary 2018 guidance 2018 actual 2019 guidance1) Production 155-160 mboepd 155.7 mboepd 155-160 mboepd Capex USD 1.25 billion USD 1.20 billion USD 1.6 billion Exploration spend USD 400 million USD 359…
  22. Q4 2018 Earnings Presentation – Aker BP – slide 22
    Concluding remarks 23
  23. Q4 2018 Earnings Presentation – Aker BP – slide 23
    AKER BP Priorities ahead Dividend plan (USD million) Execute Safe and efficient operations Excellent project execution 1150 1050 950 850 Lead the digital transformation 750 Improve Reorganize value chains with alliances…
  24. Q4 2018 Earnings Presentation – Aker BP – slide 24

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