Skip to main content 2Q 2019 Earnings Presentation – Aker BP | Shale Experts
Loading...
Pm

2Q 2019 Earnings Presentation – Aker BP

Aker BP · Jul 12, 2019 · 30 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. 2Q 2019 Earnings Presentation – Aker BP – slide 1
    Second quarter 2019 Aker BP ASA 12 July 2019
  2. 2Q 2019 Earnings Presentation – Aker BP – slide 2
    AKER BP Second quarter 2019 Key figures Q2-19 Q1-19 Q2-18* Production in line with plan Execute High maintenance activity Production mboepd 127.3 158.7 157.8 P&A completed ahead of plan Sales mboepd 140.7 162.0 151.3 Realized…
  3. 2Q 2019 Earnings Presentation – Aker BP – slide 3
    AKER BP High activity across the value chain Drilling Exploration Development projects Production Decommissioning 6 17 4 127 300 2 simultaneous exploration development projects boe per day projects safely drilling operations wells…
  4. 2Q 2019 Earnings Presentation – Aker BP – slide 4
    Exploration update 5
  5. 2Q 2019 Earnings Presentation – Aker BP – slide 5
    EXPLORATION UPDATE Creating value from Exploration High success rate and efficient execution Successful exploration in core areas 9 wells drilled so far in 2019 3 discoveries Industry leading drilling performance Safe and highly…
  6. 2Q 2019 Earnings Presentation – Aker BP – slide 6
    EXPLORATION UPDATE Liatrnet material discovery in the NOAKA area Building momentum for an area development Area overview A significant oil discovery Volume in place estimated to 500-700 mmboe More data needed to determine drainage…
  7. 2Q 2019 Earnings Presentation – Aker BP – slide 7
    EXPLORATION UPDATE Unlocking injectite plays in the Alvheim area Significant resource additions delivered through exploration Q3-18 Q1-19 Gekko appraisal Froskelr Main 30-60 mmboe 60-130 mmboe Q2-19 Froskelr NE 2-10 mmboe…
  8. 2Q 2019 Earnings Presentation – Aker BP – slide 8
    EXPLORATION UPDATE Worlds first dual drilling operations Drilling faster and faster Dual drilling completed safely and efficiently on three wells JK Hornet Freke-Garm Deepsea Stavanger rig with world class capabilities Two top…
  9. 2Q 2019 Earnings Presentation – Aker BP – slide 9
    EXPLORATION UPDATE 2019 exploration program Status per July 2019 two new wells added in Q2 License Prospect Operator Aker BP Est. Pre-drill Status share spud mmboe PL869 Froskelr Main Aker BP 60 % Q1 45 - 153 Discovery 60-130 mmboe…
  10. 2Q 2019 Earnings Presentation – Aker BP – slide 10
    Operational update 11
  11. 2Q 2019 Earnings Presentation – Aker BP – slide 11
    OPERATIONAL REVIEW Production overview Production per hub, mboepd Production efficiency per hub Alvheim Valhall Skarv Ivar Aasen Ula Other 2017 2018 2019-Q1 2019-Q2 155.7 158.7 98% 97% 138.8 87% 85% 127.3 53%…
  12. 2Q 2019 Earnings Presentation – Aker BP – slide 12
    OPERATIONAL REVIEW Alvheim Volund sidetrack well on stream Skogul development on track Frosk test producer completed Discovery Froskelr NE - Rumpetroll ongoing Production (mboepd) Production efficiency Alvheim Byla Vilje…
  13. 2Q 2019 Earnings Presentation – Aker BP – slide 13
    OPERATIONAL REVIEW Valhall Valhall Flank West on track platform installed Valhall QP topside removed Lower production in Q2 due to planned maintenance Production (mboepd) Production efficiency Valhall Hod 45.8 91.2% 94.5%…
  14. 2Q 2019 Earnings Presentation – Aker BP – slide 14
    OPERATIONAL REVIEW Safe and efficient decommissioning Removal of Valhall QP Recovery of Jette Xmas trees 15
  15. 2Q 2019 Earnings Presentation – Aker BP – slide 15
    OPERATIONAL REVIEW Ivar Aasen New well on stream completed with Fishbone Currently drilling next production well Production down in Q2 due to power outages Production (mboepd) Production efficiency 24.4 23.7 23.3 22.7 22.5…
  16. 2Q 2019 Earnings Presentation – Aker BP – slide 16
    OPERATIONAL REVIEW Skarv Steady production and high efficiency Increased gas injection to optimize liquids production rfugl development on track Drilling and subsea installation in H2 Concept selected for Phase II FID planned in…
  17. 2Q 2019 Earnings Presentation – Aker BP – slide 17
    OPERATIONAL REVIEW Ula Lower production due to planned maintenance Conversion of Ula DP completed New drilling campaign started Production (mboepd) Production efficiency Ula Tambar Oda 10.8 10.5 72.2% 74.6% 8.4 8.2 8.1…
  18. 2Q 2019 Earnings Presentation – Aker BP – slide 18
    OPERATIONAL REVIEW Johan Sverdrup On track All topsides installed Remaining activities before production start: Hook-up, commissioning and completion Tie-back of pre-drilled wells Tie-in of export pipelines Production start…
  19. 2Q 2019 Earnings Presentation – Aker BP – slide 19
    OPERATIONAL REVIEW NOAKA the largest project remaining on the NCS Liatrnet discovery highlights the benefits of an area development Growing resource base Total recoverable resources 700 mmboe (Aker BP interest 60% avg.) Nipa…
  20. 2Q 2019 Earnings Presentation – Aker BP – slide 20
    Financial review 21
  21. 2Q 2019 Earnings Presentation – Aker BP – slide 21
    FINANCIAL REVIEW Oil and gas sales Volume (mboepd) Realised prices (USD/boe) Petroleum revenues (USDm) Production Sales Liquids Natural gas -20% -13% +8% -9% 158.7 162.0 69.3 858 63.9 780 140.7 127.3 -33% 38.1 25.6…
  22. 2Q 2019 Earnings Presentation – Aker BP – slide 22
    FINANCIAL REVIEW Income statement USD million Q2 2019 Q1 2019 Q2 2018* Total operating income 785 836 925 Production costs 198 200 151 Other operating expenses 4 7 1 EBITDAX 583 629 773 Exploration expenses 60 90 75 EBITDA 522 539 698…
  23. 2Q 2019 Earnings Presentation – Aker BP – slide 23
    FINANCIAL REVIEW Statement of financial position USD million Assets 30.06.19 31.03.19 31.12.18* Equity and liabilities 30.06.19 31.03.19 31.12.18* Goodwill Equity 2,664 2,799 2,977 1,791 1,791 1,860 Other intangible assets Other…
  24. 2Q 2019 Earnings Presentation – Aker BP – slide 24
    FINANCIAL REVIEW Increased financial capacity and reduced cost New Revolving Credit Facilities (RCF) Debt maturity profile (USD million) USD 4 billion, senior unsecured Replaces the secured RBL, with extended maturity Reduced…
  25. 2Q 2019 Earnings Presentation – Aker BP – slide 25
    FINANCIAL REVIEW Cash flow second quarter 2019 USD million CF Operations 208 CF Financing 21 CF Investing 595 414 87 40 365 188 114 102 14 Opening Net debt Operations Tax paid Capex & Expex Abex Dividends Other Closing…
  26. 2Q 2019 Earnings Presentation – Aker BP – slide 26
    FINANCIAL REVIEW Tax payments USD million Fixed instalments for 2019 Estimated instalments for 2019 340 208 212 212 163 106 106 106 67 69 34 34 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20…
  27. 2Q 2019 Earnings Presentation – Aker BP – slide 27
    FINANCIAL REVIEW Guidance summary Actual per 2019-6M Updated 2019 guidance1) Production2) 142.9 mboepd 155-160 mboepd USD 1.6-1.7 billion Capex3) USD 740 million (previous USD 1.6 billion) USD 550 million Exploration spend USD 278…
  28. 2Q 2019 Earnings Presentation – Aker BP – slide 28
    Concluding remarks 29
  29. 2Q 2019 Earnings Presentation – Aker BP – slide 29
    AKER BP Priorities ahead Maersk Invincible at Valhall Flank West Execute Safe and efficient operations Excellent project execution Improve Keep momentum on improvement agenda Leverage technology to drive value creation…
  30. 2Q 2019 Earnings Presentation – Aker BP – slide 30

From the store

Browse maps, data & reports in the Shale Experts store