Report for the nine months ended 30 September 2019

  • Production above mid-point guidance for the nine months at 79.2 Mboepd and Q3 at 82.7 Mboepd
  • Production ramp up from Johan Sverdrup Phase 1 above 200 Mboepd gross as at end of October 2019, following first oil on 5 October 2019, ahead of schedule and under budget
  • 2019 production guidance raised to 90 to 95 Mboepd from 75 to 95 Mboepd, following early start up from Johan Sverdrup and continued outperformance from Edvard Grieg
  • Strong financial performance for the reporting period and third quarter
  • Completion of 2.6 percent sale of Johan Sverdrup and 16 percent shares redemption with Equinor in August 2019
  • Plan to fully electrify Edvard Grieg as part of the Utsira High Area power grid finalised, increasing uptime efficiency further and continuing our emissions trajectory to below 1kg CO2 per boe from the Johan Sverdrup and Edvard Grieg fields
Financial summary  1 Jan 2019-30 Sep 20199 months1 Jul 2019-30 Sep 20193 months1 Jan 2018-30 Sep 20189 months1 Jul 2018-30 Sep 20183 months1 Jan 2018-31 Dec 201812 months
Production in Mboepd79.282.780.878.281.1
Revenue and other income in MUSD2,199.01,215.01,988.5604.62,640.7
Operating cash flow in MUSD11,158.9380.01,412.8434.41,864.1
EBITDA in MUSD11,222.9411.31,451.8476.81,932.5
Free cash flow in MUSD1,117.9950.5489.7228.7663.0
Net result in MUSD669.6519.9323.956.7225.7
Adjusted net result in MUSD173.845.4220.175.1295.3
Earnings/share in USD2.051.720.960.170.67
Adjusted earnings/share in USD0.530.150.650.220.87
Net debt in MUSD4,054.94,054.93,569.93,569....
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