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Lundin Petroleum AB (LUPE.ST)

LUPE.ST on Stockholm Stock Exchange

177.40SEK
22 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Statoil says Norway's northernmost exploration was disappointing
Tuesday, 29 Aug 2017 02:40am EDT 

Aug 29 (Reuters) - Statoil Asa :Non-commercial gas discovery on korpfjell - non-commercial gas discovery on korpfjell - statoil.com.Results are of course disappointing, but it is too early to draw any conclusions on how this will impact barents sea southeast area.We need further exploration to find out what this implies for total resource potential of barents sea southeast area.Despite an exciting discovery in kayak and traces of oil in gemini north, we have so far not had a direct hit that may result in a new standalone field development.Campaign has however provided important clarifications and new information about resource potential in barents sea.  Full Article

Lundin Petroleum to repurchase shares
Thursday, 3 Aug 2017 06:30am EDT 

Aug 3 (Reuters) - Lundin Petroleum AB :Lundin Petroleum to repurchase shares.Says maximum number of shares repurchased shall be such that shares held in treasury from time to time shall not exceed ten percent of all shares of company.Says shares may be repurchased at one or more occasions up until agm in 2018.Says Lundin Petroleum currently does not hold any own shares..  Full Article

Sweden's Lundin ups 2017 production guidance after strong Q2 results
Wednesday, 2 Aug 2017 01:40am EDT 

Aug 2 (Reuters) - LUNDIN PETROLEUM AB :LUNDIN PETROLEUM Q2 PRODUCTION AT 89,500 BOEPD (REUTERS POLL 85,081 BOEPD).LUNDIN PETROLEUM Q2 REVENUE $464.6 MILLION (REUTERS POLL $376 MILLION).LUNDIN PETROLEUM Q2 EBITDA $333.5 MILLION (REUTERS POLL $320 MILLION).LUNDIN PETROLEUM Q2 OPERATING CASHFLOW AT $340 MILLION.LUNDIN PETROLEUM Q2 NET RESULT $145.6 MILLION (REUTERS POLL $238 MILLION).LUNDIN PETROLEUM END-Q2 NET DEBT AT $4,081 MILLION VERSUS $4,029 MILLION AT END-Q1.LUNDIN PETROLEUM SEES 2017 PRODUCTION AT 80,000-85 MBOEPD BOEPD VERSUS PREVIOUS GUIDANCE OF 75,000-85,000 BOEPD.LUNDIN PETROLEUM SEES 2017 CASH OPERATING COSTS AT $4.60/BOE VERSUS PREVIOUS GUIDANCE OF $4.9/BOE.SAYS JOHAN SVERDRUP PROJECT IS PROGRESSING ACCORDING TO PLAN WITH PHASE 1 NOW OVER 50 PERCENT COMPLETED AND FIRST OIL REMAINING FIRMLY ON TRACK FOR END OF 2019.  Full Article

Lundin Petroleum sees exploration costs and impairment charges of $35 mln in q2, gains on forex and assets of $170 mln
Wednesday, 19 Jul 2017 02:00am EDT 

July 19 (Reuters) - Lundin Petroleum Ab :Update on second quarter 2017 financial results.Lundin petroleum ab will expense pre-tax exploration costs and impairment charges of around musd 35 million in q2.Lundin petroleum will also recognise a net foreign exchange gain of around musd 118 and gain on sale of assets of musd 52 in relation to ipc spin-off for the second quarter.These items are largely non-cash and will have no impact on operating cash flow or EBITDA.  Full Article

Oil firm North Energy stops activities offshore Norway
Friday, 7 Jul 2017 04:51am EDT 

July 7 (Reuters) - NORTH ENERGY ASA :DISCONTINUES PETROLEUM ACTIVITIES ON THE NORWEGIAN CONTINENTAL SHELF.HAS SIGNED AN AGREEMENT WITH LUNDIN NORWAY <<>> WHEREBY NORTH E&P WILL SELL ITS 40% WORKING INTEREST IN PRODUCTION LICENCE 805 TO LUNDIN NORWAY..TRANSACTION IS CONDITIONAL UPON APPROVAL BY NORWEGIAN AUTHORITIES..NET CASH POSITION OF NORTH E&P, INCLUDING VALUE OF TAX LOSSES CARRIED FORWARD, WAS APPROXIMATELY NOK 245 MILLION AS OF Q1 2017..FINAL PROCEEDS RECEIVED FROM LIQUIDATION OF NORTH E&P WILL DEPEND ON CLOSING COSTS, AS WELL AS A FINAL ASSESSMENT BY NORWEGIAN OIL TAXATION OFFICE..  Full Article

Lundin sells 39 pct in Brynhild field offshore Norway to CapeOmega
Wednesday, 28 Jun 2017 02:23am EDT 

June 28 (Reuters) - Lundin Petroleum Ab ::Brynhild transaction between Lundin Norway and Capeomega.Has entered into a sales and purchase agreement with Capeomega as to divest a 39 percent working interest in Brynhild field in PL148 in the Norwegian North Sea.Lundin Norway will retain operatorship and following transaction will have a 51 percent working interest in Brynhild field, a subsea tie-back oil field to the Shell<<>> operated Pierce field on the UK Continental Shelf.Transaction involves a consideration of nok 774 million, including historic tax and uplift balances and effective date of transaction is 1 January 2017.Existing partner CapeOmega will increase its working interest in the Brynhild field from 10 to 49 percent.  Full Article

Lundin Petroleum ups 2017 output guidance
Wednesday, 3 May 2017 01:51am EDT 

May 3 (Reuters) - Lundin Petroleum Ab :sees 2017 production at 75,000-85,000 boepd versus previous guidance of 70,000-80,000 boepd.sees 2017 cash operating costs at $4.90/boe, excluding. Ipc assets versus previous guidance of $5.3/boe.  Full Article

Aker BP expects to decide on extra Arctic wells soon
Friday, 28 Apr 2017 04:12am EDT 

OSLO, April 28 (Reuters) - Aker BP CEO Karl Johnny Hersvik told Reuters on the sidelines of the firm's earnings presentation on Friday::* Plans decision within a couple of weeks on whether to drill two new prospects, Hufsa and Hurri, in the PL533 license in the Barents Sea.* Lundin, the operator of the license, announced in February discovering 35-100 million barrels of oil equivalents (boe) in the Filicudi prospect.* "Most importantly the Filicudi discovery reduced the risk of drilling the other prospects... We are clearly more optimistic now than we were before the Filicudi discovery".* Hufsa is estimated to hold 285 million boe and Hurri 218 million boe.* Says the ongoing considerations are related to which prospect to drill first.* Says the two prospects could most likely be drilled by Leiv Eiriksson rig currently employed by Lundin in the Barents Sea.* Lundin and Aker BP have each 35 percent in the PL533 license, and DEA has 30 percent.  Full Article

BRIEF-Farstad Shipping signs charter agreements
Monday, 27 Feb 2017 06:08am EST 

Farstad Shipping ASA : Has been awarded charter contracts . The AHTS Far Sigma (2014, UT 731 CD, 24,371 BHP) has been awarded a 1 well contract by Lundin Norway AS . Fairfield Betula Limited has awarded the PSV Far Symphony (2003, P 105, 4,929 DWT) a 12 months contract . The PSV Far Server (2010, Havyard 832 CD, 4,000 DWT) and the PSV Far Serenade(2009, UT 751 CD, 5,944 DWT) have both been awarded a 3,5 months contract . The PSV Far Spica (2013, PSV 08 CD, 4,000 DWT) has received an extension of 4 months by the charterer where she has been employed since August 2015 . Petro Services, with end client Total, has awarded the PSV Far Starling (2013,PSV 08 CD, 4,000 DWT) a 1 month contract to support a "ready for operation" campaign in Congo .Commercial terms of agreements will be kept private and confidential between parties.  Full Article

Lundin Petroleum sees 2017 output at 79,000 to 91,000 boepd
Monday, 13 Feb 2017 02:13am EST 

Lundin Petroleum AB : Says sees 2017 total production at 79,000 to 91,000 boepd (Reuters poll 93,446 boepd) versus 72,600 boepd in 2016 . Pro-forma production guidance for Lundin Petroleum, comprising only assets in Norway, is between 70,000 to 80,000 boepd . Production guidance for Lundin's international operations is between 9,000 to 11,000 boepd [nFWN1FY05X] Further company coverage: [LUPE.ST] (Reporting By Nerijus Adomaitis) ((nerijus.adomaitis@thomsonreuters.com;)).  Full Article

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Exclusive: Norway plans tax breaks for remotest Arctic oilfields - letters

OSLO Norway's government plans to make taxpayers rather than oil companies pay special U.N. fees for any offshore production from remote Arctic regions, according to letters sent to oil firms and seen by Reuters.