Preliminary Results Presentation Cairn Energy PLC 12th March 2019
Introduction A Full Cycle E&P Business Production Cash Flow Strong Producing Balance Sheet Asset Base Financial Flexibility Development Ability to Reserves and Shareholder Invest Value Sustainably Production Additions…
Introduction Active Programme Across Balanced Business 2019 2020 2021 Norway Norway Norway Norway Norway UK Firm Wells Mexico Mexico Mexico Mexico UK UK Mauritania Ireland Mexico Contingent Wells Norway Norway Cote…
Finance James Smith
Finance Financial Overview Funding Position Cash at 31 December 2018: 66m RBLfacility: 85m drawn 575m RBL maturity extended to 2025 Norwegian tax receivable: 33m Norwegian EFF: 27m drawn Senegal / SNE Project Finance launched…
Finance Financial Overview 2018 Results Net Production: 17,500 boepd** Oil and gas sales revenue: 396m Average realised sales price: 68/boe (before 1.34/boe hedging cost) Average production cost: 20.5/boe FY 2018 cash inflow from…
Finance FY 2018 Cashflow Capex 285m* (252m net of tax) 88m net of tax Norway & UK Exploration Drilling (Tethys, Raudsen, Ekland, Agar-Plantain) Mexico Well Planning Opening Kraken and RBL Norway Catcher SNE Exploration…
Finance 2019 Capital Expenditure Full Year Guidance Catcher Catcher Kraken and 5m 20m 25m Kraken Completion of DC4 development well programme SNE Nova Senegal and 65m 40m 105m Nova Offshore modifications / Pre-FID capital…
Finance Delivering Long Term Sustainability RBL facility maturity extended to 2025, remains fully available Year end 2019 net debt to remain broadly stable, based on prevailing oil price and capex guidance Work with core lending…
Development and Production Paul Mayland
Development and Production Current Production - UK Catcher Kraken Catcher (Cairn 20% WI) averaged 43,000 boepd Kraken (Cairn 29.5% WI) averaged 30,300 bopd (gross) in 2018 (gross) in 2018 Production from Catcher Area fields…
Development and Production Under Development Nova Oil Field, Norway Development on schedule First oil targeted 2021 Reserves 80 mmboe* Peak production (net to Cairn) 10,000 bopd with associated gas Nova Subsea Schematic Project…
Development and Production Planning for Development SNE Oil & Gas Field, Senegal Milestones Achieved Milestones to Deliver Environmental and Social Impact Assessment Drilling rig contracts imminent award; (ESIA) approved Jan 2019…
Development and Production Senegal SNE Resources Estimated P50 STOIIP 3.6 bn boe Phase 1 Phase 1a Gas Phase 2 Resources Resources Phase 3 130 mmbbls 123 mmbbls 2C 230 mmbbls 200 Bcf SNE-2 SNE-1 SNE-6 BEL-1 VR-1 SNE-3 SNE-5…
Operations 2019 Active Drilling Schedule Mexico Norway Operated: Operated: Maersk Developer Transocean Arctic TO Arctic Stena Don TO Spitsbergen Maersk Developer UK Norway Operated: Non Operated: Stena Don Transocean…
Exploration Eric Hathon
Exploration Our Activity 2019 7 Wells, 5 Operated Norway Targeting total gross volume 1 bn boe* Norway, UK and Mexico UK Ireland 2020 Potential multi-well programme Mexico Mauritania Wells in Mexico, Norway and UK Senegal…
Exploration 2019 Drilling Campaign Norway UK Drilling Programme 2019 PL885 Presto Cairn Operated Cairn Non-Op Equinor Operated well Q1 2019 Total depth: 3000 m MD 0 50 100 Cairn 30% WI Water depth: 230 m Kilometers Targeting 160…
Exploration Mexico Four Well Exploration Programme Commences in Mexico Three blocks, two operated and one non-operated Cairn Operated Area Cairn Operated Area Round 3.1 Leased Blocks Targeting Gross mean 500 mmboe* in 2019 wells…
Exploration Mexico Block 7, Sureste Basin Joint Venture: Gulf of Block 7 Mexico Cairn 30% Block 15 Ehecatl Ixchel ENI 45% (Operator) Citla Energy 25% Yatzil Block 7 Block 9 Well Objectives: Mexico Stacked Tertiary sand…
Exploration 2019-2020 Exploration Programme Maturing opportunities in NW Africa, NW Europe and Latin America Norway Robust drilling schedule Drilling up to 14 wells UK Approximately 50% operated 3D Seismic Acquisition…
Conclusion Simon Thomson
Conclusion Sustainable Value Creation Deliver Exploration and Appraisal Success Portfolio Management Mature Developments Deliver Operational Excellence Sustainable Value Creation 26 Preliminary Results Presentation, March 2019
Contacts David Nisbet Paula Pratt Group Corporate Affairs Investor Relations Co-ordinator david.nisbetcairnenergy.com Paula.prattcairnenergy.com +44 (0)7711 146 068 +44 (0)131 475 3094 cairnenergy.com Follow us on Twitter Download…
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