Half Year Results Presentation Cairn Energy PLC September 2019
Disclaimer These materials contain forward-looking statements regarding Cairn, our corporate plans, future financial condition, future results of operations, future business plans and strategies. All such forward-looking statements are…
Introduction Simon Thomson Chief Executive
Introduction Strategic Delivery Delivering Full Cycle Norway E&P Business UK Ireland Capital Discipline Mexico Israel and Active Portfolio Nicaragua Mauritania Management Senegal Suriname Cote dIvoire Multiple Catalysts…
Introduction Core Values Commitment to working according to core values; Respect, Relationships and Responsibility Recognise challenges associated with climate change will require significant transition to alternative energy sources…
Finance James Smith Chief Financial Officer
Financial Overview H1 2019 Summary Net oil and gas production: 23,700 boepd* Oil and gas sales revenue: 257m Average realised sales price: 68/boe (before 0.75/boe hedging gain) Average production cost: 17/boe Cash inflow from oil…
H1 2019 Cashflow H1 capex 135m* (121m net of tax) 56m net of tax 200m adjusted Presto, Lynghaug drilling, for working capital Nicaragua and Cote D'Ivoire farm-in, movements Mexico drilling readiness and Suriname 2D…
2019 Capital Expenditure Full Year Guidance Catcher Catcher Kraken and 5m 20m 25m Kraken DC4 development completed in H1 SNE Nova Senegal and 35m 70m 105m Nova Farm-down* to ONE Dyas effective Ongoing project definition 1…
Delivering Long Term Sustainability Strong cashflow generation and balance sheet to support Norway future investment UK Ireland Mexico Israel H2 focus on SNE project approval and financing Nicaragua Mauritania Senegal Suriname…
Production and Development Paul Mayland Chief Operating Officer
UK Production Production H1 2019 Summary H1 production (net) 22,950 bopd (23,700 boepd) Full year guidance upgraded to 21,000 23,000 bopd (net) Catcher UK Exceptional production efficiency of 95% Excess Production Amendment with…
UK Production Catcher Production Catcher (Cairn 20% WI, Premier Operated) Cairn Operated Cairn Non-Op Catcher Laverda Peppermint Average gross production: UK Bonneville H1 2019 66,600 bopd (net 13,300 bopd) Small reserves upgrade…
UK Production Kraken Production 0 25 50 Km Kraken (Cairn 29.5% WI, EnQuest Operated) NW Area Barra DC3 Central Norway West Average gross production: Shetland Isles Chimera Maureen H1 2019 32,700 bopd (net 9,650 bopd) UK…
Senegal SNE Oil and Gas Field Development Estimated P50 STOIIP 3.6 bn boe Phase 1 Phase 1a Gas Phase 2 Phase 3 2C Resources 2C Resources 2C Resources 2C Resources 230 mmbbls 200 Bcf 130 mmbbls 123 mmbbls SNE Development Schematic…
Senegal SNE Development Development Cairn 40% WI, Woodside Operated Sanction H2 2019, targeting first oil 2022 High definition 3D marine seismic survey commenced Q3 2019 Joint Venture submitted updated Exploitation Plan in August to…
Senegal SNE Development Development FEEDs complete Subsea FPSO Awarded to Subsea Integrated Alliance (SIA) Awarded to Modec for conversion of existing VLCC Riser Pipeline and SPS technical deliverables tanker completed Design and…
Norway Nova Oil Field Development Cairn 10%* WI, Wintershall Dea Operated Development on schedule Completed installation of subsea pipelines and umbilicals Two subsea templates installed 65km of pipelines laid in preparation for…
Exploration Eric Hathon Exploration Director
Exploration Model Exploration Deliver consistent, material NAV growth through exploration Strict fiscal Build and Maintain Discover discipline in high grade a exposure to commercial assessing new portfolio of potentially…
Dynamic Exploration Portfolio Exploration Robust drilling schedule, up to 14 wells 2019 2020 Approximately 50% wells operated Early entrant in frontier and immature basins Norway Significant position in underexplored / UK emerging…
2019 Norway Drilling Programme Exploration Cairn Operated Three wildcat tests with material volume potential Cairn Non-Op N o r w e g i a n S e a Targeting new plays and significant play extensions Lynghaug No HSE events Godalen…
UK Northern North Sea, Chimera Exploration Cairn 45% WI, (Operator) Well Objectives: 0 5 10 Km Primary objective Paleocene Heimdal turbidites Secondary objective Eocene turbidites Total depth 1,940m MD; water depth 135m Gross…
Latin America Exploration 0 10 Km Leaders or fast followers in underexplored/emerging basins Block 10 Mexico Block 9 Sureste and Tampico-Misantla Basins Block 7 Cenozoic oil plays World class source rock SAASKEN Zama play…
Mexico Exploration Multiple prospects with the potential to build a production hub for Latin America Four blocks, two operated and two non-operated 0 10 Km Block 9 Block 10 Six well programme 2019-2020, oil-focused portfolio Block…
Mexico 2019 Drilling Campaign Exploration Two wells targeting gross mean prospective resources of 320 mmbbls Block 9 (Cairn 50%* WI, Operator) Block 9 (Cairn 50%* WI, Operator) Alom-1 Bitol-1 Well Objectives: Well Objectives:…
Mexico 2019 Drilling Campaign Exploration Two wells targeting gross mean prospective resources of 220 mmbbls Block 7 (Cairn 30% WI, ENI Operated) Block 10 (Cairn 15%* WI, ENI Operated) Ehecatl-1 Saasken-1 Well Objectives: Well…
West Africa Exploration Early entry to new plays in frontier and immature basins Cairn Non-Operated Mauritania Cairn Option Emerging Basin Block C7 option to enter with Total as operator Immature (w/discovery) Frontier Basin…
Conclusion Simon Thomson Chief Executive
Conclusion Active Programme Across Balanced Business 2019 2020 2021 2022 Nova Offshore Nova Nova Modifications Development Norway Norway Norway First Oil Commence Drilling Developments SNE SNE First Development FID Senegal…
Conclusion Strategic Delivery Delivering Full Cycle E&P Business Capital Discipline and Active Portfolio Management Multiple Catalysts for Shareholder Value 31 Half Year Results Presentation, September 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 Follow…
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