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February 2020 Investor Presentation – Lundin Petroleum

Lundin Petroleum · Feb 17, 2020 · 29 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. February 2020 Investor Presentation – Lundin Petroleum – slide 1
    Corporate Presentation February 2020 WF12520 p01 09.19
  2. February 2020 Investor Presentation – Lundin Petroleum – slide 2
    Lundin Petroleum A Leading European Independent E&P Company 9 Bn USD 1Bn boe Market Cap Resource base Target Sustained 200 Mboepd Low Opex Multiple organic 3.24.2 USD/boe growth sources 2020 onwards 1Bn USD 1.80 Free cash…
  3. February 2020 Investor Presentation – Lundin Petroleum – slide 3
    Lundin Petroleum Organic Growth Strategy Southern Barents Sea 7 Transforming core Hammerfest the portfolio exploration 7 areas core areas Harstad 90 No. of licences 35% 3 core areas increase in number of licences…
  4. February 2020 Investor Presentation – Lundin Petroleum – slide 4
    Lundin Petroleum Decarbonisation Strategy - The Path to Carbon Neutrality Capital Spend (1) 270 MUSD spent 750 MUSD J.Sverdrup Ph 2 Edvard Grieg Commit to Commit to full J.Sverdrup Ph 2 Utsira High electrification Edvard Grieg…
  5. February 2020 Investor Presentation – Lundin Petroleum – slide 5
    Lundin Petroleum Utsira High Full Electrification - Industry Leading Low Carbon Intensity Illustration source Equinor Krst Haugsneset Johan Sverdrup Johan Sverdrup Phase 2 and Utsira High power Ivar Aasen from shore (4Q 2022)…
  6. February 2020 Investor Presentation – Lundin Petroleum – slide 6
    Lundin Petroleum Increased Long-term Production Guidance (Mboepd) Target 200 Mboepd with upsides 2C Resources (3) 3P Reserves (2) Long-term guidance 145- 160170 Mboepd 165 2P reserves 93 2P Reserves (1) 86 81 59…
  7. February 2020 Investor Presentation – Lundin Petroleum – slide 7
    Lundin Petroleum Free Cash Flow Free Cash Flow from 2P Reserves (pre-Dividend) 1,800 1,600 1,400 1,200 Average Annual Free Cash Flow at 80 USD/bbl 1,000 1.15 Bn USD MUSD 800 Average Annual Free Cash Flow at 50…
  8. February 2020 Investor Presentation – Lundin Petroleum – slide 8
    Lundin Petroleum Capital Allocation 20202026(1) Good flexibility on capital allocation CFFO Capex Debt Repayment E&A Renewable Dividends WF12623 p10 02.20 65 USD/bbl Brent +2% ESC (1) Based on 2P reserves and…
  9. February 2020 Investor Presentation – Lundin Petroleum – slide 9
    Hammerfest Hammerfest Lundin Petroleum Key Assets Harstad Harstad Production Production Alvheim Johan Sverdrup Production Development Edvard Grieg Edvard Grieg Tie-backs Alvheim Area Oslo Oslo Stavanger…
  10. February 2020 Investor Presentation – Lundin Petroleum – slide 10
    Lundin Petroleum Greater Edvard Grieg Area - Keeping the Facilities Full Edvard Grieg Edvard Grieg Gross Reserves/Resources (MMboe) 3 firm infill wells sanctioned 378 Further reserves upside 300 Extended Plateau Production +61%…
  11. February 2020 Investor Presentation – Lundin Petroleum – slide 11
    Lundin Petroleum Greater Edvard Grieg Area - Solveig Phase 1 and Rolvsnes EWT Solveig 20% complete Solveig Rolvsnes EWT Rolvsnes EWT 35% complete First Oil First Oil Edvard Grieg 2020 2021 Solveig Plateau Production 30 Mboepd…
  12. February 2020 Investor Presentation – Lundin Petroleum – slide 12
    Lundin Petroleum Greater Edvard Grieg Area - Further Plateau Extension Gross (Mboepd) 120 4 yrs Plateau Extension from PDO Further Plateau Extension 100 E. Grieg PDO 80 Exploration and further upsides 2C on C…
  13. February 2020 Investor Presentation – Lundin Petroleum – slide 13
    Lundin Petroleum Alvheim Area - Continuous Reserves Growth Alvheim Gross Reserves/Resources (MMboe) 605 495 Frosk test producer on stream OPEX 6.23 +93% Alvheim infill pilots successful USD/boe (2) 257 2 infill wells in 2020…
  14. February 2020 Investor Presentation – Lundin Petroleum – slide 14
    Lundin Petroleum OPEX Carbon Johan Sverdrup - In a League of its…
  15. February 2020 Investor Presentation – Lundin Petroleum – slide 15
    Lundin Petroleum Johan Sverdrup - Phase 1 Ramp-up Ahead of Schedule Production 8 pre-drilled wells 2 more wells Development Drilling wells onstream producing to reach plateau 350 Mbopd (1) Plateau 440 Mbopd(1) from 8 wells 80%…
  16. February 2020 Investor Presentation – Lundin Petroleum – slide 16
    Lundin Petroleum Track Record of Growing Reserves Reserve Replacement Ratio (%) (1, 2, 3) 6754% Johan Sverdrup 6th consecutive year of reserves growth while growing production 4x 242% Reserves Growth 163% 144% 150%…
  17. February 2020 Investor Presentation – Lundin Petroleum – slide 17
    Lundin Petroleum Southern Barents Sea Pipeline of New Projects Loppa High 8 Potential new projects Alta/Gohta 110300 MMboe (1) targeting 100300 MMboe Hammerfest net resources Projects Underway Harstad 2019 2020 2021 PDO First…
  18. February 2020 Investor Presentation – Lundin Petroleum – slide 18
    2020 Wells Lundin Petroleum Shenzhou Barents Sea 2020 Exploration and Appraisal Programme Southern Barents Sea Polmak Bask Spissa Targeting 700 650 MMboe net unrisked resources 600 150 MMboe net risked resources Net…
  19. February 2020 Investor Presentation – Lundin Petroleum – slide 19
    160170 Long-term Target Mboepd long-term value creation Industry leading low OPEX 200 Mboepd Multiple organic 3.24.2 USD/boe 2020 onwards growth sources 1 Bn USD average free cash flow per year (1) Target 1.80 USD/share…
  20. February 2020 Investor Presentation – Lundin Petroleum – slide 20
    Lundin Petroleum 2020 Production Guidance 2020 production guidance 145 165 Mboepd Net Production Mboepd Asset Split 200 180 Johan Sverdrup Edvard Grieg Jan to date (1) Ramp-up to Phase 1 Plateau production 160 plateau - Summer…
  21. February 2020 Investor Presentation – Lundin Petroleum – slide 21
    Lundin Petroleum Capex Nominal (1) Renewables 1,200 Johan Sverdrup Rolvsnes 1,000 Solveig 800 Edvard Grieg Area Alvheim Area MUSD 600 400 200 - 2020 2021 2022 2023 2024 2025 2026 WF12623 p08 02.20 1) 2%…
  22. February 2020 Investor Presentation – Lundin Petroleum – slide 22
    Lundin Petroleum Tax Due and Paid 285 Tax Due 2019 Actual Tax Installments 600 200 500 Relate to 2019 tax due Relate to 2018 tax due 400 150 MUSD SPT Tax 325 MUSD 300 Loss Shelter Total due 97 MUSD 405 100 Firm…
  23. February 2020 Investor Presentation – Lundin Petroleum – slide 23
    Lundin Petroleum Cash Flow and Liquidity 1,571.2 Available Credit 959.0 Free Cashflow -193.0 6 MUSD 1,271.7 0.26 0.26 5 5.0 4.75 0.26 4.0 MUSD -355.6 4 4.0 3 Billion USD Organic 2 Free Cashflow -1,065.5…
  24. February 2020 Investor Presentation – Lundin Petroleum – slide 24
    Lundin Petroleum Organic Value Creation through Innovation Subsurface expertise Cutting-edge technology Maximising recovery 0.8 USD/boe Lundin Petroleum finding costs (1) New reservoirs and plays WF12623 p08 02.20…
  25. February 2020 Investor Presentation – Lundin Petroleum – slide 25
    Lundin Petroleum Year-end 2019 Reserves (Net) 2P Reserves 3P Reserves 693.3 MMboe(1,2) 857.5 MMboe(2,3) Ivar Aasen 1.7 Ivar Aasen 1.4 Alvheim Area Alvheim Area Edvard Grieg Area(4) Edvard Grieg Area(4) Johan Sverdrup Johan…
  26. February 2020 Investor Presentation – Lundin Petroleum – slide 26
    Decarbonisation Strategy Replacing Power Usage with Renewables Lundin (Edvard Grieg & Johan Sverdrup) Net Power Usage and Replacement Leikanger Hydropower 500 Lundin to aquire 50% operated by Sognekraft Net investment for…
  27. February 2020 Investor Presentation – Lundin Petroleum – slide 27
    Lundin Petroleum Safe and Responsible Operations Safety ESG Ratings 2018 Total Recordable Incident Rate (TRIR) (1) 2.6 Top 10 ESG in Europe Top 5 on human rights globally Prime Status 0.6 Outperformer Norway (2) Lundin…
  28. February 2020 Investor Presentation – Lundin Petroleum – slide 28
    Lundin Petroleum Shareholder Structure Listed on Nasdaq Stockholm Shares in free-float approx. 60% Tickers: LUPE.SS, LUPE.ST, ADR: LUPEY Rest of the World Sweden 10% 14% Scandinavia Lundin Family 35% 7% excluding Sweden…
  29. February 2020 Investor Presentation – Lundin Petroleum – slide 29
    www.lundin-petroleum.com Access Lundin Petroleums latest information by downloading the Lundin Petroleum IR App

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