ORRÖN ENERGY AB 2021 results &
2022 business outlook
Nick Walker, President & CEO
Daniel Fitzgerald, COO
Teitur Poulsen, CFO
1 February 2022
2021 Highlights
Record Results
Growth | Resilience | |
Record Production | Industry Leading | |
190 Mboepd | Low Opex | |
3.1 USD/boe | ||
Top of original guidance(1) | ||
Projects on Track | Record Free | |
Cash Flow | ||
Edvard Grieg Area projects delivered | ||
1.6 Bn USD | ||
Johan Sverdrup Phase 2 on schedule | ||
Increased Resources(2) | Reduced Net Debt | |
01.22 | 200 % | 2.7Bn USD |
replacement ratio | ||
WF12821 p01 | (2) 2P reserves + 2C contingent resources replacement ratio including acquisitions | |
(1) CMD guidance |
Proposed
Lundin Energy E&P/
AkerBP
Combination
Sustainability
Carbon Neutral
from 2023
operational emissions
Top Quartile
ESG Ratings
Inclusion in
Dow Jones Sustainability
Index Europe
Lundin Energy | 2 |
Lundin Energy
2022 - What to Expect
Production
180-200Mboepd
Carbon Neutral
from 2023
Sustained Low Opex
3.6 USD/boe
Johan Sverdrup
Phase 2 first oil
Taking capacity to 755 Mbopd(1)
Edvard Grieg Area
3 potential project sanctions
Electrification start-up
Wisting
Project sanction
Lundin Energy E&P/
AkerBP
Combination
Completion mid-2022
Proposed Dividend
25 % increase(2)
WF12801 p03 10.21 WF12821 p02 01.22
(1) Gross | (2) Quarterly dividend 0.5625 USD/share until completion of AkerBP transaction |
Lundin Energy | 3 |
Lundin Energy
A History of Shareholder Value Creation
Proposed
Lundin Energy E&P/
AkerBP
Combination
WF12821 p03 01.22
3
SEK/share
2001
375
SEK/share
CAGR 28%(1)
+ 1.4 Bn USD
Historical Dividends
- 410 MUSD IPC Spin-off
-
718 MUSD EnQuest/Etrion
Distribution
2022
- Compound annual average return over period 2001 to 2022
Lundin Energy
Renewables
Lundin Energy | 4 |
WF12821 p04 01.22
Proposed Aker BP / Lundin Energy E&P Combination
Combining the 2 leading
Norwegian pure play E&P companies
To create Europe's leading E&P company
Combined Market Cap ~23 Bn USD
Post Transaction Ownership Structure
Listed on | ||
21.2% | Euronext Oslo | |
Børs | Lundin Energy shareholders will | |
OTHER 48.6%
15.9% | receive | receive | retain | ||
+ | |||||
14.4% | Equity in combined entity | ~72 | ~0.951 | 1 share | |
57% AkerBP | SEK/share | shares in | + in new renewables | ||
LUNDIN Family | in cash (1) | AkerBP | company (2) | ||
43% Lundin Energy |
(1) Cash paid at closing | (2) Remaining renewables business of Lundin Energy |
Lundin Energy | 5 |
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Lundin Energy AB published this content on 01 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2022 17:01:00 UTC.
