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1H 2019 Earnings Presentation – Dno International Asa

Dno International Asa · Aug 28, 2019 · 21 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. 1H 2019 Earnings Presentation – Dno International Asa – slide 1
    Presentation Half-Year 2019 Interim Results
  2. 1H 2019 Earnings Presentation – Dno International Asa – slide 2
    Corporate overview and operational highlights Page 2
  3. 1H 2019 Earnings Presentation – Dno International Asa – slide 3
    Corporate overview Solid first-half 2019 with rising revenues, strong profitability, record activity levels and with a material contribution from the North Sea H1 2019 net profit of USD 119 million, double H1 2018 level H1 2019…
  4. 1H 2019 Earnings Presentation – Dno International Asa – slide 4
    H1 2019 operational highlights DNO ramps up operational activity with 14 wells spud in H1 2019 On track to deliver largest annual drilling program in the Companys 48-year history with 36 wells across portfolio, of which 23…
  5. 1H 2019 Earnings Presentation – Dno International Asa – slide 5
    H1 2019 financial highlights H1 2019 revenues of USD 470 million, up 63 percent from the same period a year earlier, of which USD 362 million from Kurdistan and USD 108 million from North Sea Completed USD 780 million acquisition of…
  6. 1H 2019 Earnings Presentation – Dno International Asa – slide 6
    Foot on accelerator in Kurdistan: Tawke Flagship Tawke field remains largest IOC-operated oil field in Kurdistan Production averaged 71,700 bopd in H1 2019 with three new producing wells brought onstream Adding fourth rig,…
  7. 1H 2019 Earnings Presentation – Dno International Asa – slide 7
    Foot on accelerator in Kurdistan: Peshkabir Peshkabir field now the second largest IOC-operated field in Kurdistan Production averaged 55,000 bopd in H1 2019 with two new production wells brought on stream Four additional wells…
  8. 1H 2019 Earnings Presentation – Dno International Asa – slide 8
    Foot on accelerator in Kurdistan: Baeshiqa First Baeshiqa well targeting shallow Cretaceous reservoirs drilled to 1,511 meters and suspended pending completion of testing of adjacent Baeshiqa-2 well Baeshiqa-2, targeting deeper…
  9. 1H 2019 Earnings Presentation – Dno International Asa – slide 9
    Kurdistan drilling schedule Development/Infill Appraisal/Exploration 2019 2020 Country License DNO Interest Operator Field/Well Q1 Q2 Q3 Q4 Q1 Tawke 75% DNO Peshkabir-10 Tawke 75% DNO Peshkabir-11 Tawke 75% DNO Peshkabir-3A Tawke…
  10. 1H 2019 Earnings Presentation – Dno International Asa – slide 10
    North Sea update DNO in 89 licenses in Norway, 12 in the United Kingdom (UK), one in Ireland and two in the Netherlands Awarded two new operated exploration licenses in the UK in Q2 2019 Production diversified across 13 fields;…
  11. 1H 2019 Earnings Presentation – Dno International Asa – slide 11
    North Sea drilling schedule Development/Infill Appraisal/Exploration 2019 2020 Country License DNO Interest Operator Field/ Prospect Q1 Q2 Q3 Q4 Q1 PL931 40 % Wellesley Songesand PL767 10 % Lundin Pointer PL870 20 % Equinor…
  12. 1H 2019 Earnings Presentation – Dno International Asa – slide 12
    Financial review Page 12
  13. 1H 2019 Earnings Presentation – Dno International Asa – slide 13
    DNO financial results key figures Revenue Netback Operating profit USD million USD million USD million 400 200 250 369 230 177 180 350 160 155 200 300 143 266 140 250 120 150 105 107 204 200 100 171 99 147 80 100 150…
  14. 1H 2019 Earnings Presentation – Dno International Asa – slide 14
    Financial summary USD million Q2 2019 Q1 2019 Q2 2018 H1 2019 H1 2018 Revenue 265.7 204.1 147.0 469.7 289.3 Cost of goods sold -133.8 -117.0 -74.1 -250.7 -149.5 Gross profit 131.9 87.1 72.9 219.0 139.8 Expensed exploration -18.3…
  15. 1H 2019 Earnings Presentation – Dno International Asa – slide 15
    Operational spend Annual operational spend USD million Capex Expex Lifting 900 800 680 700 600 500 400 293 300 259 200 125 100 0 2016 2017 2018 2019 (projected) YTD operational spend of USD 274 million and on…
  16. 1H 2019 Earnings Presentation – Dno International Asa – slide 16
    2019 investment program Planned capital expenditure in 2019 of USD 375 million, of 2019 forecast capex and expex which USD 225 million in Kurdistan and USD 150 million in USD million the North Sea 25 Kurdistan capital expenditure…
  17. 1H 2019 Earnings Presentation – Dno International Asa – slide 17
    Q2 2019 cash flow USD million 700 600 500 310 400 300 77 -68 574 200 254 100 0 Cash at end Q1-2019 Cash from operations Investment activities Tax & finance Cash at end Q2-2019 Q2 2019 cash flow from operations…
  18. 1H 2019 Earnings Presentation – Dno International Asa – slide 18
    Capital structure Cash deposits Financial assets Equity ratio USD million USD million Percent 800 800 100 729 700 700 90 640 584 80 600 574 600 70 500 500 61 60 55 57 400 400 50 335 44 40 288 281 40 300 254 300 30 200…
  19. 1H 2019 Earnings Presentation – Dno International Asa – slide 19
    Stellar track record in bond market New USD 400 million bond placement completed in May 2019 and maturing in Debt maturity profile May 2024 USD million 600 500 Rolled over USD 60 million in nominal 400 value of DNO01 bonds,…
  20. 1H 2019 Earnings Presentation – Dno International Asa – slide 20
    Important notice This presentation (the Presentation) has been prepared and delivered by DNO ASA (DNO or the Company). Copyright of all published material including photographs, drawings and images in this document remains vested in…
  21. 1H 2019 Earnings Presentation – Dno International Asa – slide 21

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