Company at a glance

Lundin Petroleum is an independent Swedish oil and gas company with a balanced portfolio of exploration and production assets located offshore Norway.

Key Investment Highlights

Strong Operating Cash Flow and Balance Sheet to fund continued growth
» 2017 EBITDA MUSD 1,501.5
» 2017 operating cash flow MUSD 1,530.0

Exploration – organic growth through the drill bit
» Giant oil discovery on Johan Sverdrup in Norway
» Significant discovery in 2014 on the Alta prospect in the Barents Sea, Norway
» Further exploration leverage in Norway
» 2018 exploration and appraisal programme
– 11 wells

Reserves Growth – converting discoveries into cash flow
» 2P reserves 726.3 MMboe
» 3P reserves 895.5 MMboe
» Contingent resources 203 MMboe

Production Growth – converting discoveries into cash flow
» Strong production and low operating costs
» 2017 production 86.1 Mboepd
» 2018 production guidance 74–82 Mboepd

Opportunistic Value Realisation – unlocking value in our asset portfolio
» Spin-off of non-Norway assets in 2017
» Spin-off of UK assets in 2010
» Distribution of Etrion shareholding in 2010

Nasdaq Stockholm Ticker: LUPE
Year low/high
(January 2018 – May 2018):
SEK 178/257
Shares outstanding: 340.4 million
Production 2017: 86.1 Mboepd
2P reserves: 726.3 MMboe
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