Highlights A commitment to responsible behaviour Being a responisble operator is the right thing to do and is critical to achieve our strategic objectives and financial success Greenhouse Gas Intensity (op. assets) Environment (kg…
Highlights 2019 highlights ytd DELIVER Group production kboepd Catcher plateau production kboepd (gross) 100 75 FY guidance increased (75-80 kboepd) Catcher strong performance 75 50 Net debt reducing 50 25 25 EXPLOIT 0…
Production Group production two core areas Increased 2019 guidance Improved cash margins /boe (Operating cash flow/production) Strong start to the year, 84 kboepd to end May 30% UK Higher High uptime of 96% margins Improved…
Finance Net debt reduction continuing Targeting leverage ratio of 1.5x over the cycle Accounting net debt Significant debt reduction in 2018 m Further debt reduction in 2019 2800 Expect to be at upper end of 250m-350m 2600…
Finance Disciplined spend Capital expenditure Capex m Abex P&D E&A Tolmount capex minimised through 400 partnership with Kellas Midstream 46 300 100 Development capex lower year-on-year 38 with completion of Catcher 200 234…
Production UK production Premier Oil UK UKCS1 Growing production Extending Basin life kboepd mboepd 15 47 60 1.4 1.6 1.7 2013 2018 2021F 2013 2017 2021F Reduced operating costs Reduced operating costs US/boe US/boe…
Production South East Asia production 2018 net cash flow c.230 million Stable production High operating efficiency Low cost base kboepd % US/bbl 30 100 12 20 8 50 10 4 28 28 80 96 10 6 0 0 0 2013 2018 2013 2018 2013…
Production Chim So (53.125% operated interest) Discovered Chim So in 2006; acquired additional 25% stake for 72 million in 2009 DELIVER 2019 (to end May): 12.4 kboepd, 95% OE Chim So field Low cost base Chim So South Central…
Production Natuna Sea Block A (28.67% operated interest) Dominant position in the Natuna Sea delivering gas in Singapore under long term gas sales agreements DELIVER Anoa 2019 to end May: 11.8 kboepd (net) 52% share of GSA1…
Production Catcher (50% operated interest) Discovered in 2010, increased stake via EnCore acquisition in 2012 Catcher Area oil production profile (gross) DELIVER kbopd 70 Final acceptance certificate issued Sanction Current /…
Production Huntington (100% operated interest) Acquired through Oilexco (2009), subsequently increased stake via partner defaults (2015) and E.ON acquisition (2016) DELIVER 2019 to end May: 6.5 kboepd Reduced lease cost COP…
Production Elgin Franklin (5.2% non-operated interest) Acquired as part of the 120 million E.ON acquisition in 2016 DELIVER 2019 to end May: 6.8 kboepd (net) High operating efficiency, low opex Reserves increased (extended COP,…
Development Strong portfolio with material upside Appraisal Delivering value via infrastructure led operations and growth projects NA required EXPLOIT Well Infill Near field Exploration Third party Field life intervention…
Development Tolmount Main on track Progressing as planned Offshore installation Jul 18 Dec 18 Jul 19 Dec 19 Jul 20 Dec 20 Jul 21 (Heeremas Sleipner) Partner sanction Detailed engineering Onshore construction Modifications…
Development Tolmount Main key milestones Acquired 50% operated interest through E.ON acquisition in 2016; sanctioned August 2018 Construction of Tolmount platform (Q4 2018) Easington terminal modifications (Q1 2019) Net Capex…
Development Tolmount East Spud July 2019 SW 42/28d-12 NE Targeting up to 300 Bcf (gross) Testing extension to Tolmount Main Structural closure above gas water contact Gas water contact On success, tied back to Tolmount Main…
Development Greater Tolmount Area upside High value tie-backs with low tariff rates GTA 3D seismic survey completed Mongour Tolmount Far East Infill drilling targets Exploration prospects 3rd party volumes Tolmount East Gross…
Development Sea Lion a multi-phased project Carry arrangements restructured in 2016 for Sea Lion Phase 1 Contractor LOIs being converted into fully termed contracts FEED substantially completed; onshore logistic projects underway…
Appraisal Zama development planning underway Significant resource upgrade Development planning underway Reservoir properties at upper end of McDermott & IO progressing engineering work expectation Appraisal results being integrated…
Exploration Disciplined approach to exploration and appraisal 450 mmboe of net prospective resource to be drilled (excluding appraisal) Tolmount East 4D seismic over Catcher spud (Jul 2019) Area (2020 1H) United Kingdom…
Exploration Block 30, Mexico (30% non-operated interest) Secured 30% interest via Mexicos Round 3.1 in April 2019, most contested block Block-wide 3D seismic acquisition underway A B Drilling activity targeted for 2020 Wahoo: Flat…
Exploration Andaman II (40% operated interest) Awarded 40% interest in the 2017 Indonesian Licence Round Proven hydrocarbon basin Oligocene sandstones gas target Clear DHIs on 2D seismic 3D seismic acquisition completed MUSKAT…
Exploration Brazil Secured acreage in Ceara basin via Brazils 11th Round High impact prospects in stacked targets Block 717 (Premier, 50% operator) matured for drilling Berimbau/Maraca (Block 717) Itarema/Tatajuba (Block 661)…
Summary Outlook DELIVER Robust base business EXPLOIT Significant low cost upside within existing assets GROW Portfolio underpins future growth profile to 2030+ Indicative production profile kboepd 100 - 2019 2020 2021…
Summary Balanced capital allocation (2019 to 2025) Reinvestment will be measured against cash returns to shareholders 100% 30% 10% 10% 40% 10% Net Operating Debt reduction Producing assets Abandonment New projects…
Appendix Delivery against 2018 targets 80.5 kboepd achieved, up 7% on 2017 and a record year for the Group Production Production averaged 92 kboepd, ahead of forecast, in Nov / Dec Opex of 16.9/boe, below 17-18/boe guidance Cost…
Appendix 2018 Financial Highlights Increased operating Capital discipline Return to profit cash flow maintained Net profit (m) Operating cash flow (m) Total capital expenditure (m) 200 800 800 100 600 600 0 400 400 -100 200…
Appendix 2018 Financials Catcher increased oil rates delivered a step up in operating cash flow and profits in the second half of 2018 FY 2018 FY 2017 Realised pricing Production (kboepd) 80.5 75.0 2018 2017 P&L (m) Oil (pre hedge)…
July 2019 www.premier-oil.com Premier Oil Plc 23 Lower Belgrave Street London SW1W 0NR T: +44 (0)20 7730 1111 E: premierpremier-oil.com
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