Edition:
United Kingdom

Lundin Petroleum AB (LUPE.ST)

LUPE.ST on Stockholm Stock Exchange

272.90SEK
10:06am BST
Change (% chg)

-1.10kr (-0.40%)
Prev Close
274.00kr
Open
273.50kr
Day's High
275.10kr
Day's Low
272.00kr
Volume
58,977
Avg. Vol
812,630
52-wk High
295.40kr
52-wk Low
156.10kr

Latest Key Developments (Source: Significant Developments)

Lundin Petroleum Receives Three Exploration Licences In Norway
Monday, 18 Jun 2018 

June 18 (Reuters) - Lundin Petroleum AB ::REG-THREE LICENCES AWARDED IN THE 24TH LICENSING ROUND IN NORWAY.LUNDIN PETROLEUM AB - ALL OF LICENCES ARE LOCATED IN SOUTHERN BARENTS SEA WITH ONE OF LICENCES OPERATED BY LUNDIN NORWAY.LUNDIN PETROLEUM AB - AWARDED LICENCES ARE ALL LOCATED IN SOUTHERN BARENTS SEA AND CLOSE TO LICENCES ALREADY HELD BY LUNDIN NORWAY.  Full Article

Lundin Petroleum wins better borrowing terms
Monday, 4 Jun 2018 

June 4 (Reuters) - Lundin Petroleum AB ::LUNDIN PETROLEUM HAS SUCCESSFULLY RE-NEGOTIATED IMPROVED BORROWING TERMS.SUCCESSFULLY RE-NEGOTIATED IMPROVED BORROWING TERMS IN RELATION TO ITS USD 5 BILLION RESERVE-BASED LENDING FACILITY.INTEREST RATE MARGIN HAS BEEN REDUCED FROM 315 BASIS POINTS TO 225 BASIS POINTS BASED ON CURRENT BORROWINGS.IMPROVED TERMS INCLUDE A REVISED INTEREST RATE MARGIN RANGE OF BETWEEN 200 AND 250 BASIS POINTS DEPENDENT UPON LEVEL OF BORROWINGS AS WELL AS A LOWER COMMITMENT FEE.TOTAL COMMITMENT WITHIN RBL FACILITY OF USD 5 BILLION AND MATURITY DATE AT END OF 2022 REMAIN UNCHANGED.FOLLOWING THIS AMENDED LOAN AGREEMENT, BANKING SYNDICATE HAS BEEN REDUCED FROM 28 TO 27 BANKS.  Full Article

Norway's Oil Directorate confirms Aker BP discovery
Friday, 2 Mar 2018 

March 2 (Reuters) - :NORWAY PETROLEUM DIRECTORATE: OIL DISCOVERY NORTH OF THE BØYLA FIELD IN THE NORTH SEA - 24/9-12 S AND 24/9-12 A.NPD: PRELIMINARY ESTIMATES INDICATE THAT THE SIZE OF THE DISCOVERY IS BETWEEN 5 AND 10 MILLION STANDARD CUBIC METRES (SM3) OF RECOVERABLE OIL.NPD STATEMENT CONFIRMS EARLIER NEWS FROM OPERATOR AKER BP nASM000JEZ.AKER BP HOLDS 65 PCT STAKE, POINT RESOURCES 20 PCT, LUNDIN 15 PCT.  Full Article

Aker BP made bigger-than-expected oil discovery near Alvheim
Monday, 19 Feb 2018 

Feb 19 (Reuters) - Aker Bp Asa ::EXPLORATION SUCCESS IN PL340 NEAR ALVHEIM.‍WELL HAS PROVED OIL. PRELIMINARY ANALYSIS INDICATE A DISCOVERY SIZE OF 30-60 MILLION BARRELS OF OIL EQUIVALENTS​.DISCOVERY IS ‍SIGNIFICANTLY MORE THAN COMPANY'S PRE-DRILL ESTIMATES OF 3-21 MMBOE​.‍DISCOVERY ALSO HAS A POSITIVE IMPACT ON ASSESSMENT OF FURTHER EXPLORATION POTENTIAL IN AREA​.‍FROSK IS LOCATED IN PL340, WHICH ALSO CONTAINS BØYLA FIELD. BØYLA HAS BEEN PRODUCING OIL SINCE 2015 THROUGH A SUBSEA INSTALLATION TIED BACK TO ALVHEIM FPSO​.‍FROSK DISCOVERY ADDS SIGNIFICANT VOLUME AND VALUE TO OUR RESOURCE BASE, AND PROVIDES AN IDEAL BASIS FOR ANOTHER PROFITABLE EXPANSION PROJECT​.‍IS OPERATOR OF PL340 WITH A 65 PERCENT WORKING INTEREST. PARTNERS ARE POINT RESOURCES WITH 20 PERCENT AND LUNDIN PETROLEUM WITH 15 PERCENT​.  Full Article

Lundin Petroleum CEO sees upside to Sverdrup field recovery rate
Monday, 12 Feb 2018 

Feb 12 (Reuters) - Lundin Petroleum AB said on Monday::LUNDIN PETROLEUM CEO: EXPECTS JOHAN SVERDRUP FIELD RECOVERY RATE TO INCREASE, CURRENT RECOVERY MIDPOINT IS LOW.LUNDIN PETROLEUM CEO: EXPECTS JOHAN SVERDRUP DEVELOPMENT COSTS TO FALL FURTHER, "WE STILL HAVE A FAIR AMOUNT OF CONTINGENCY".LUNDIN PETROLEUM CEO: COULD SUBMIT DEVELOPMENT PLAN FOR LUNO II DISCOVERY BY END-2018, SEES FIRST OIL IN 2021.LUNDIN PETROLEUM CEO: BREAK-EVEN COST FOR ALTA/GOHTA DEVELOPMENT IS AROUND $30 A BARREL.LUNDIN PETROLEUM HOPES TO BEAT ITS 78,000 BOEPD MIDPOINT 2018 PRODUCTION GUIDANCE AFTER STRONG JANUARY OUTPUT -CEO.  Full Article

BRIEF-Lundin Petroleum raises post-Sverdrup output forecasts
Monday, 12 Feb 2018 

Corrects to make clear 2019 and 2022 output numbers are valid for the periods following startup of Sverdrup field phase I and phase II respectively:SEES 2018 CASH OPERATING COST PER BARREL OF $4.15.REVISES PRODUCTION GUIDANCE FOR 2019 AFTER SVERDRUP PHASE I STARTUP TO MORE THAN 130,000 BOEPD FROM PREVIOUS MORE THAN 120,000 BOEPD.SEES ITS 2022 PRODUCTION AFTER SVERDRUP PHASE II STARTUP AT MORE THAN 160,000 BOEPD VERSUS PREVIOUS GUIDANCE OF MORE THAN 150,000 BOEPD.CEO SAYS COMPANY'S ORGANIC GROWTH STRATEGY REMAINS UNCHANGED, "WE ARE STILL VERY MUCH DRIVEN BY ORGANIC GROWTH".AIMS TO INCREASE NET RESOURCES BY MORE THAN 700 MILLION BARRELS FROM APPRAISAL AND EXPLORATION IN 2018.CEO SAYS RESERVES AT NORWAY'S EDVARD GRIEG FIELD HAVE A POTENTIAL TO RISE TO OVER 300 MILLION BOE FROM 274 MILLION BOE AT END-2017.TARGETS MORE THAN 200 MILLION BOE IN NET RESOURCES DURING APPRAISAL OF LUNO II, ROLVSNES AND ALTA/GOHTA DISCOVERIES IN 2018.CEO SAYS COMPANY "IS VERY CLOSE" TO DECIDING ON DEVELOPMENT OF LUNO II DISCOVERY.  Full Article

Lundin Petroleum sees opex $3.9-4.4/barrel after Sverdrup startup
Monday, 12 Feb 2018 

Feb 12 (Reuters) - Lundin Petroleum AB said on Monday::SEES ITS OPEX AT $3.90-4.40 PER BARREL AFTER JOHAN SVERDRUP PHASE I STARTUP.SAYS TO DRILL 9 EXPLORATION AND 4 APPRAISAL WELLS IN 2018.  Full Article

Lundin Petroleum raises 2019 output forecast
Monday, 12 Feb 2018 

Feb 12 (Reuters) - Lundin Petroleum AB said on Monday::SEES 2018 CASH OPERATING COST PER BARREL OF $4.15.REVISES PRODUCTION GUIDANCE FOR 2019 TO MORE THAN 130,000 BOEPD FROM PREVIOUS MORE THAN 120,000 BOEPD.SEES ITS 2022 PRODUCTION AT MORE THAN 160,000 BOEPD VERSUS PREVIOUS GUIDANCE OF MORE THAN 150,000 BOEPD.CEO SAYS COMPANY'S ORGANIC GROWTH STRATEGY REMAINS UNCHANGED, "WE ARE STILL VERY MUCH DRIVEN BY ORGANIC GROWTH".AIMS TO INCREASE NET RESOURCES BY MORE THAN 700 MILLION BARRELS FROM APPRAISAL AND EXPLORATION IN 2018.CEO SAYS RESERVES AT NORWAY'S EDVARD GRIEG FIELD HAVE A POTENTIAL TO RISE TO OVER 300 MILLION BOE FROM 274 MILLION BOE AT END-2017.TARGETS MORE THAN 200 MILLION BOE IN NET RESOURCES DURING APPRAISAL OF LUNO II, ROLVSNES AND ALTA/GOHTA DISCOVERIES IN 2018.CEO SAYS COMPANY "IS VERY CLOSE" TO DECIDING ON DEVELOPMENT OF LUNO II DISCOVERY.  Full Article

Lundin to pay $175 mln in dividends in 2018, increase payout next year
Thursday, 1 Feb 2018 

Feb 1 (Reuters) - Lundin Petroleum Ab ::LUNDIN PETROLEUM Q4 PRODUCTION AT ‍83,100​ BOEPD (REUTERS POLL 82,687 BOEPD).LUNDIN PETROLEUM Q4 REVENUE $‍593.7​ MILLION (REUTERS POLL $521 MILLION).LUNDIN PETROLEUM Q4 EBITDA $‍429.8​ MILLION (REUTERS POLL $411 MILLION).LUNDIN PETROLEUM Q4 OPERATING CASH FLOW AT $‍434.5​ MILLION.LUNDIN PETROLEUM Q4 NET RESULT $‍-50.9​ MILLION (REUTERS POLL NET LOSS $3.7 MILLION).‍PROPOSES AN INAUGURAL CASH DIVIDEND TO BE PAID AFTER 2018 AGM​.PROPOSES SEK 4.0 DIVIDEND PER SHARE‍​.LUNDIN PETROLEUM SAYS BASED ON CURRENT MARKET CONDITIONS WE ANTICIPATE AN ANNUAL CASH DIVIDEND OF AT LEAST USD 350 MILLION FROM NEXT YEAR.LUNDIN PETROLEUM SAYS INAUGURAL CASH DIVIDEND TO TOTAL APPROXIMATELY MUSD 175.  Full Article

Lundin Petroleum sees lower output in 2018
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Lundin Petroleum Ab ::LUNDIN PETROLEUM ANNOUNCES ITS 2018 BUDGET AND PRODUCTION GUIDANCE.ITS 2018 DEVELOPMENT, APPRAISAL AND EXPLORATION BUDGET WHICH TOTALS USD 1.05 BILLION.PRODUCTION GUIDANCE FOR 2018 IS BETWEEN 74 TO 82 THOUSAND BARRELS OF OIL EQUIVALENT PER DAY (MBOEPD) WITH APPROXIMATELY 75 PERCENT OF THE PRODUCTION CONTRIBUTION FROM THE EDVARD GRIEG FIELD VS AVERAGE PRODUCTION IN 2017 OF 86.1 MBOEPD.2018 CAPEX 11 PERCENT DECREASE ON 2017 CAPITAL EXPENDITURE.LUNDIN PETROLEUM ANNOUNCES ITS 2018 BUDGET AND PRODUCTION GUIDANCE.PRE-TAX APPRAISAL BUDGET FOR 2018 IS USD 135 MILLION..‍2018 DEVELOPMENT EXPENDITURE IS BUDGETED AT USD 800 MILLION​.‍WITH RESPECT TO COMMITTED DEVELOPMENT PROJECTS, 2017 WAS PEAK YEAR OF CAPITAL EXPENDITURE LEADING UP TO JOHAN SVERDRUP FIRST OIL AND 2018 DEVELOPMENT EXPENDITURE IS 16 PERCENT BELOW 2017 LEVEL​.‍APPROXIMATELY 80 PERCENT OF 2018 BUDGETED DEVELOPMENT EXPENDITURE RELATES TO NON-OPERATED JOHAN SVERDRUP FIELD (WI 22.6%) WITH 2018 BEING PEAK YEAR IN TERMS OF FACILITIES INSTALLATION FOR PHASE 1 OF PROJECT​.‍FROM INCEPTION AND UP TO YEAR END 2017, LUNDIN PETROLEUM'S NET CAPITAL EXPENDITURE ON PHASE 1 AMOUNTED TO USD 1.6 BILLION​.‍SVERDRUP PROJECT IS AHEAD OF SCHEDULE WITH OVER 65 PERCENT COMPLETE AT YEAR END 2017 AND IS ON SCHEDULE FOR FIRST OIL IN LATE 2019​.  Full Article

UPDATE 2-Norway awards oil permits to 11 firms in Arctic licensing round

OSLO, June 18 Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.