Highlights 2020 year to date highlights Safe and responsible operations maintained Focus on health and safety of our people Production averaged 70.1 kboepd to end April Forecast broadly free cash flow neutral for 2020 at forward…
Highlights Status of UK acquisitions & lender discussions Strategic rationale behind acquiring UK assets still stands Strengthens UK business through addition of operated assets Equity financed acquisition of cash generative assets…
Production Production assets overview 2020 ytd UK Outlook 47 kboepd Production averaged 70.1 kboepd Rising production profile FY guidance now 65-70 kboepd Increased contribution from Catcher outage (now restored) SE Asia tax…
Production UK North Sea 2020 ytd performance Outlook 47.1 kboepd, underpinned by Catcher which Varadero infill well spudded 11 May averaged 28.7 kboepd (net) Solan P3 horizontal, expected to boost field Elgin Franklin: 7.3 kboepd…
Production South East Asia Cash generative: c.50 million of free cash flow generated from SE Asian assets to end April 2020 NSBA, Indonesia (28.7% op) NSBA production kboepd (net) 2020 ytd: 13.8 kboepd (net) Low opex of 5/boe…
Development Tolmount Area 500 Bcf gross resource 50 kboepd gross peak rates Modest capex; low opex Partnership with Kellas who are partially funding the capex Revised schedule with first Tolmount topsides pre-commissioning…
Development Development asset review Tolmount East Area Block 7 Zama oil field1 Tuna discoveries Sea Lion Phase 1 160-300 BCF gross 810-970 mmbbls gross 100 mmboe gross 250 mmbbls gross resource (P50-P10) resource (P50-P10)…
Development Development asset review a Net Zero Commitment Low Carbon by Design Measuring, managing and minimising Premiers emissions Emissions Hopper approach Best Available Technology Carbon Neutral by Commitment Nature-based…
Exploration High value exploration portfolio Targeting under explored plays in proven hydrocarbon basins Area A, Alaska North Slope Wahoo prospect, Block 30, Mexico Charlie-1 well drilled in Q1 300 mmbbls Extended Brookian play…
Summary Forward production profile Rising, highly cash generative production base Near to medium term growth from UK assets; South East Asia stable Longer term growth from new international projects Excludes contribution from…
Summary 7 year balanced capital allocation (2020 to 2026) Reinvestment in new projects will be measured against shareholder returns Non-discretionary Discretionary 100% 25% 10% 10% 10% 45% 2018-2019 allocation At…
Summary Priorities in todays environment Maintain safe and responsible operations Capital expenditure m 2020F capex reduction Focus on health and safety of our people 500 c. 140 million Maximise operating cash flow 400 Abex P&D…
June 2020 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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