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Lundin Petroleum AB (LUPE.ST)

LUPE.ST on Stockholm Stock Exchange

172.00SEK
26 May 2017
Change (% chg)

-2.70kr (-1.55%)
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Latest Key Developments (Source: Significant Developments)

Lundin Petroleum aims to raise output by 17 pct/year 2016-2022
Monday, 13 Feb 2017 05:36am EST 

Lundin Petroleum Ab told a news conference in Oslo on Monday: spin-off IPC to have have operating cost of below $19/ barrel of oil equivalent in 2017 . says expected production growth is 17 percent per year during 2016-2022 . targets more than 500 million barrels of organic growth in reserves in 2017 . now expects to drill 10 wells in 2017 versus previously announced 8 wells Further company coverage: [LUPE.ST] (Reporting by Nerijus Adomaitis, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Lundin Petroleum says cost per barrel will fall in 2017
Monday, 13 Feb 2017 05:19am EST 

Lundin Petroleum Ab told a news conference in Oslo on Monday: sees cash operating costs falling to $6.9/barrel in 2017 from $7.8 in 2016 . says operating cost guidance for 2017 is a record low of $5.3/barrel vs cost of $6.25 per barrel in 2016 . repeats will pay dividend when Johan Sverdrup oilfield comes online or when oil price rises to sustainable levels of above $60 a barrel Further company coverage: [LUPE.ST] (Reporting by Nerijus Adomaitis, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Lundin Petroleum Q3 EBITDA above forecast, sees output in upper end of range
Wednesday, 2 Nov 2016 02:30am EDT 

Lundin Petroleum Ab : Lundin petroleum says q3 ebitda of musd 253.8 (Reuters poll $230 mln) vs musd 98.7 in Q3 2015 . Lundin petroleum ab says q3 net result of musd 173.8 (Reuters poll $182 mln) including a net foreign exchange gain vs musd -201.6 in q3 2015 . Q3 revenue of MUSD 317.4 (Reuters poll $316 mln) vs MUSD 154.2 in Q3 2015 . Lundin petroleum ab says q3 production of 80.4 mboepd (36.0 mboepd) . Lundin petroleum ab says given strong performance we are revising our 2016 production guidance to 70,000 to 75,000 boepd from 65,000 to 75,000 boepd (Reuters poll 71,473 boepd) . Lundin Petroleum says cost of operations per boe guidance lowered to USD 6.50 from USD 7.10 . Lundin petroleum ab says has around usd 1 billion of liquidity . Lundin petroleum ab says is able to sustain long term oil prices as low as usd 40 per barrel and still fully fund johan sverdrup phase 1 development while continuing to invest in an exciting and aggressive organic growth strategy .Lundin petroleum ab says 2017 exploration and appraisal campaign encompassing four exploration wells and four appraisal wells with drilling in southern and eastern Barents Sea, Utsira high area and Alvheim area.  Full Article

Lundin Petroleum says looking for M&A opportunities in Norway -CEO
Wednesday, 3 Aug 2016 04:39am EDT 

Lundin Petroleum Ab : CEO Alex Schneiter tells investor call the firm is keeping an eye out for merger and acquisition opportunities on the Norwegian continental shelf . "In terms of new M&A I would say we take a more opportunistic view. If there is any M&A for us it would be in Norway and nowhere else," Schneiter says . "I think both production and development assets (could be interesting), provided they have strategic importance. Our focus is very much driven by the Utsira High and the Southern Barents Sea, in those two areas if there are any opportunities that can grow our business it would be something we would be looking at Further company coverage: [LUPE.ST] (Reporting By Stine Jacobsen, editing by Terje Solsvik) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Lundin Petroleum CEO says has signed deepwater rig Leiv Eiriksson at "well below $200,000 per day"
Wednesday, 11 May 2016 03:33am EDT 

: Lundin Petroleum CEO Alex Schneiter says has taken advantage of the current market situation and has signed Ocean Rig's deepwater rig Leiv Eiriksson at "well below $200,000 per day" Further company coverage: [LUPE.ST] [ORIG.O] (Reporting By Stine Jacobsen) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

Statoil in deal with Lundin Petroleum
Tuesday, 3 May 2016 02:25am EDT 

Statoil ASA:Is selling its stake in a North Sea field to Lundin Petroleum in return for a larger stake in the Swedish oil firm.Statoil will divest its 15 pct stake in the Edvard Grieg field, a nine percent stake in the Edvard Grieg oil pipeline and a six percent stake in the Utsira High Gas pipeline.In addition Statoil will pay $68 million in cash to Lundin Petroleum.In return Statoil will up its stake in Lundin to 20.1 percent from 11.9 percent, the Norwegian company said.  Full Article

Lundin Petroleum AB secures further bank financing
Monday, 21 Mar 2016 03:30am EDT 

Lundin Petroleum AB:Has entered into a committed short term revolving credit facility (RCF) of $300 mln and received additional ommitments of $135 mln under the reserve-based lending (RBL) facility accordion.With this additional commitment under the RBL of $5 bln Lundin Petroleum has a total firm commitment of $4,438 billion.These credit facilities provide further financial flexibility to fund Lundin Petroleum's growth projects in Norway.The RCF facility has a six month term, with an option to extend for a further three months.  Full Article

Lundin Petroleum AB drills dry well off Norway
Monday, 7 Mar 2016 02:28am EST 

Lundin Petroleum AB:Lundin Norway AS, operator of production licence 544, is in the process of concluding the drilling of wildcat well 16/4-10.The well is dry.Partners in the licence include Bayerngas and Wellesley Petroleum.  Full Article

Lundin Petroleum AB completes Maligan exploration well, offshore Malaysia
Thursday, 3 Mar 2016 02:42am EST 

Lundin Petroleum AB:Lundin petroleum completes Maligan exploration well, offshore Malaysia.Says ‍Maligan well was drilled with west prospero jack-up rig to a total depth of about 1,380 metres and encountered gas shows​.  Full Article

Lundin Petroleum secures reserve-bank financing
Tuesday, 2 Feb 2016 02:17am EST 

Lundin Petroleum AB:Has entered into a committed seven year senior secured revolving credit facility of up to $5.0 billion, with an initial committed amount of $4.3 billion​.Senior secured facility will provide financial flexibility to fund Lundin Petroleum's interest in Johan Sverdrup project in Norway.Facility replaces current credit facility of $4.0 billion which was due to reduce in availability starting in June 2016 and mature in 2019​.‍New amended facility matures at end of 2022 with no reduction in committed facility size before end of 2020, which is after scheduled Johan Sverdrup first oil date at end of 2019​.Facility includes option to bring in additional commitments from existing and new lenders "accordion option" of up to $700 million​.  Full Article

More From Around the Web

UPDATE 2-Sweden's Lundin ups output guidance, brushes off Arctic setback

OSLO, May 3 Sweden's Lundin Petroleum lifted its full year production guidance on Wednesday and said it still expected to find more oil in the Barents Sea despite a recent setback.