Highlights
- Acquisition of
Lundin Energy's oil and gas activities completed - Launching a decarbonisation plan to be net zero across all operations by 2030
- On track to submit Plans for Development and Operations (PDOs) for around 900 mmboe (net) by the end of the year, with concepts selected for all projects
-
Agreement signed with
Equinor to assume operatorship of Krafla following PDO submission -
Strong free cash flow of
USD 803 million *, net interest-bearing debt ofUSD 3.8 billion , and cash consideration for the Lundin transaction paid without adding new debt -
Credit rating upgrades from
Standard & Poor's ,Moody's , and Fitch Ratings -
Quarterly dividend increased by 11 percent to
USD 0.525 per share
* Adjusted for consideration paid in the Lundin transaction
Financial summary
unit | 2022-Q2 | 2022-Q1 | 2021-Q2 | |
Production | mboepd | 181.3 | 208.2 | 198.6 |
Total income | USD million | 2 026 | 2 291 | 1 124 |
EBITDA | USD million | 1 749 | 2 007 | 855 |
Net profit | USD million | 188 | 537 | 154 |
Net interest-bearing debt | USD million | 3 835 | 877 | 2 818 |
Earnings per share | USD | 0.52 | 1.49 | 0.43 |
Dividend per share | USD | 0.48 | 0.48 | 0.31 |
The Lundin transaction was completed on
Comment from Karl Johnny Hersvik, CEO of
"I'm pleased to report that the Lundin transaction has been completed during the quarter, creating the E&P company of the future. The combined company has a more diversified and robust portfolio, with industry-leading low cost and low carbon emissions assets, and is positioned to deliver profitable growth into the next decade."
"Today we are launching a decarbonisation plan to be net zero across all operations by 2030, which fortifies our position as the leading E&P company, also with respect to our environmental footprint. We remain committed to reducing gross emissions across our operations and we have a clear pathway to reduce absolute emissions to close to zero by 2050."
"Financially,
"We continue to focus on the things we can influence and improve today. In the second quarter we produced 181.3 thousand barrels of oil equivalent per day, impacted by planned maintenance programmes. For the second half of 2022, we expect to more than double our production as we integrate the Lundin assets."
"I'm also pleased to report strong progress on
"In conclusion, we remain committed to our mission to maximize value creation for our shareholders, and we have never been in a better position to do so."
Conference call and webcast
The company will host a conference call to present its second quarter 2022 results today,
Phone number | +47 2350 0347 |
Phone number | +44 (0) 330 165 3641 |
Participant passcode: | 59 23 27 |
Attachments
- Aker BP Second quarter 2022 report
- Aker BP Second quarter 2022 presentation
Aker BP Strategy update20 July 2022 (also included in the Second quarter 2022 presentation)
Investor contacts:
Jørgen Torstensen, IR Officer, tel.: +47 95 48 37 07
Media contact:
About
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