Equinor Asa · OSL:EQNR
Equinor Asa — Statoil — Q1 2010 Earnings Presentation
8 slides from Equinor Asa's earnings presentation, May 5, 2010
Slide 1: Stronger results in volatile markets
Stronger results in volatile markets Helge Lund, President and CEO 1Q 2010 Oslo, 5 May 2010
Slide 2: 1Q 2010 Highlights
1Q 2010 Highlights • Record equity production • Strong gas results in demanding markets • Seven discoveries • Six project sanctions
Slide 3: Continuous safety improvement
Continuous safety improvement Serious incident frequency (Number of accidents per million work hours) 3 2 1 0 2005 2006 2007 2008 2009 1Q 09 1Q 10
Slide 4: Solid results from all business areas
Solid results from all business areas • Liquid prices up 48% in NOK First quarter • Gas prices down 35% in NOK 39.6 • High gas offtake from customers 35.5 NOK billion 4,0 11.1 4.0 1Q09 1Q 09 1Q10 1Q 10 Net income Net operating income
Slide 5: Production on track
Production on track • Equity production up 1% 2074 2102 1925-1975 • Stable oil production 2000 • Gas production up 3% 885 1 000 boepd equity production 860 • Expect seasonal variations 1500 • Value-based gas strategy • Guiding for 2010 maintained 1000 1214 1217 500 0 1Q 2009 1Q 2010 2010 guidance Av
Slide 6: Building a legacy gas position in the US
Building a legacy gas position in the US • Increased acreage in Marcellus shale • Secured infrastructure and market access • Competitive supply positions in the US
Slide 7: Confirming our guiding
Confirming our guiding • 2010 • Equity production and cost: • 1.925-1.975 million boe/d • Unit Production Cost at NOK 35-36 per boe • Capex and exploration: • Stable capital expenditures* ~USD 13bn. • Exploration activity at USD 2.3bn. – approx 50 wells • 2012 • Equity production: • 2.1-2.2 million
Slide 8: Slide 8