Equinor Asa · OSL:EQNR
Equinor Asa — Statoil — Q3 2010 Earnings Presentation
7 slides from Equinor Asa's earnings presentation, Nov 3, 2010
Slide 1: Third quarter results
Third quarter results Helge Lund, President and CEO Oslo, 3 November 2010
Slide 2: Third quarter results
Third quarter results • 14% increase in liquids prices 28.3 28.2 NOK bn. • 8% increase in gas prices • 17% lower equity production 4,0 13.8 6.6 1Q09 3Q 09 1Q10 3Q 10 Net operating income Net income 2
Slide 3: Cash flow from underlying operations
Cash flow from underlying operations Year to date 2010 Cash flow from • Solid financial position underlying operations Taxes paid 1321 (57) • Strong cash generation • Investments according to plan Net cash flows • Secured favorable financing investing activities (54) NOK bn. Dividends paid (19) 1 In
Slide 4: Safety improvement
Safety improvement Serious incident frequency (Number of incidents per million work hours) 3 2 1 0 2005 2006 2007 2008 2009 3Q 09 3Q 10 4
Slide 5: Quarterly effects on production
Quarterly effects on production Changes 3Q 2009 to 3Q 2010 per category 1,874 ~ 60 ~ 90 1 ~ 140 1000 boe/d 2 ~ 30 1,552 1552 Q3 2009 Turnaround Turnaround Other Production Q3 2010 liquids gas permit 1 Expected natural decline, Gullfaks C06 well and rig issues, reallocation from 2Q (20’ boed), other
Slide 6: Active portfolio development
Active portfolio development • Developing − Gjøa, Vega and Vega South − Leismer Demonstration − Peregrino • Maturing − Valemon PDO − Marulk PDO − Jack and St. Malo in GoM − CLOV in Angola • High-grading − Eagle Ford acquisition − Successful Statoil Fuel & Retail IPO − Strengthening position in Marin
Slide 7: Guiding
Guiding 2010 Ramp up & new fields on stream 2010-2012 • Equity production Tyrihans Morvin Thunder Hawk • 1.9 million boepd • Unit Production Cost at NOK 36-37 per boe Agbami Tahiti Marcellus • Capex and exploration: Gjøa Vega Vega South • Capital expenditures ~USD 13bn* Skarv Peregrino Leismer • Exp