Aker BP (AKRBP)

TekBot · oktober 19, 2018, 5:01am

Aker BP third quarter 2018 results

Aker BP (OSE:AKERBP) reports total income of USD 1,000 million and operating
profit of USD 548 million for the third quarter 2018. Net profit was USD 125
million and earnings per share were USD 0.35. The company paid a dividend of USD
0.3124 (NOK 2.53) per share in the quarter.
The company’s net production in the third quarter was 150.6 (131.9) thousand
barrels of oil equivalents per day (“mboepd”). For the first nine months,
production was 155.6 mboepd, and the company still expects full-year production
to be within the previously communicated range of 155-160 mboepd.

Record high revenue

Revenues were positively impacted by increased oil and gas prices. Average
realised prices were USD 78 (55) per barrel of oil, and USD 0.30 (0.20) per
standard cubic metre (“scm”) of natural gas.

Production costs amounted to USD 165 (134) million or USD 11.9 (11.1) per barrel
oil equivalents (“boe”). For the first nine months, production cost per boe
averaged USD 11.8, and remains in line with the company’s estimate of around USD
12 per boe for the full year.

Successful appraisals

Exploration expenses amounted to USD 94 (64) million. This was driven by three
dry exploration wells, as well as seismic acquisitions and field evaluation
expenses. The appraisal wells at Gekko and Hanz were successful. The company’s
estimated exploration spend for 2018 has been revised down to USD 400 million
(previously USD 425 million).

Operating profit (EBIT) was USD 548 (219) million, after depreciation of USD 189
(175) million or USD 13.6 (14.5) per boe. Net financial expenses were USD 58 (9)
million, while taxes amounted to USD 365 (97) million. Net profit was USD 125
(112) million for the third quarter.

Reduced capex estimate

Investments in fixed assets amounted to USD 340 (226) million, driven by field
development projects across the company’s portfolio. The Aker BP-operated field
developments of Ærfugl, Valhall Flank West and Skogul as well as the Johan
Sverdrup development are all progressing according to plan. The company’s capex
estimate for 2018 has been reduced from around USD 1.3 billion to around USD
1.25 billion.

Abandonment payments (“abex”) amounted to USD 72 (27) million, driven by a
campaign to plug and abandon old wells on the Valhall field. This campaign has
now been completed, within the revised abex estimate of USD 250 million for
2018.

The company’s net interest-bearing debt was USD 2.85 billion at the end of the
third quarter. Total available liquidity was USD 3.7 billion. In August, the
company paid a quarterly dividend of USD 112.5 million or USD 0.3124 per share.
The Board has resolved to pay the same amount in dividend in November.

Strengthening Aker BP’s position in core areas

In July, Aker BP entered into an agreement to acquire 11 licences, including
four discoveries, from Total E&P Norge for USD 205 million. In October, the
company entered into an agreement to acquire 77.8 percent of the King Lear
discovery from Equinor for USD 250 million. Both transactions are subject to
approval by Norwegian authorities.

Presentation and webcast

The full report and presentation are attached and can also be found on
www.akerbp.com.

Aker BP third quarter 2018
report (http://mb.cision.com/Public/1629/2648566/af5e0e8ffcbdd919.pdf)

2018-Q3
Presentation (http://mb.cision.com/Public/1629/2648566/981c4a07a948cac6.pdf)
Investor contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217
About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
‘AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461580

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181019.OBI.20181019S5

TekBot · oktober 19, 2018, 5:01am

AKERBP: Key information relating to the cash dividend to be paid by Aker BP ASA

Dividend amount: USD 0.3124 per share (NOK 2.56866 per share)

Declared currency: USD

Last day of trading including right: 31 October 2018

Ex-date: 1 November 2018

Record date: 2 November 2018

Payment date: 9 November 2018

Date of approval: 18 October 2018

As per the updated loan agreement in the DETNOR02 bond loan (ISIN: NO
001068414.5), clause 12.4, bondholders have an option to put bonds at 107% of
the dividend distribution amount. A distribution event notice will be sent to
bondholders on the dividend payment date.
Investor contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217
About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
‘AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Ac

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461584

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181019.OBI.20181019S9

Defender · oktober 23, 2018, 11:59am

For de som sitter i AkerBP.

TekBot · oktober 23, 2018, 12:15pm

AKERBP: Meldepliktig handel

Themi Management AS, et selskap kontrollert av Tommy Sigmundstad (Direktør
boring og brønn i Aker BP), har i dag kjøpt 7000 aksjer i Aker BP til kurs NOK
289,60. Ny beholdning er 7000 aksjer.

Tommy Sigmundstad kontrollerer etter dette totalt 7528 aksjer i Aker BP.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461781

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181023.OBI.20181023S56

TekBot · oktober 23, 2018, 12:15pm

AKERBP: Mandatory notification of trade

Themi Management AS, a company controlled by Tommy Sigmundstad (SVP Drilling and
Well in Aker BP), today acquired 7000 shares in Aker BP at a price of NOK
289.60. New holding is 7000 shares.

After this transaction, Tommy Sigmundstad controls a total of 7528 shares in
Aker BP.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461782

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181023.OBI.20181023S57

TekBot · november 1, 2018, 6:01am

AKERBP: Ex dividend USD 0.3124 today

The shares in Aker BP ASA will be traded ex dividend USD 0.3124 (NOK 2.56866) as
from today, 1 November 2018. The pay-out date will be on or about 9 November
2018.
Contacts:
Investor contact: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
‘AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.

Ekstern link: https://newsweb.oslobors.no/message/462527

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181101.OBI.20181101S4

TekBot · november 1, 2018, 6:16am

AKERBP: Ex utbytte USD 0,3124 i dag

Aksjene i Aker BP ASA noteres ex utbytte USD 0,3124 (NOK 2.56866) fra og med i dag, 1. november 2018. Utbetalingsdato er på, eller omkring, 9. november 2018.

Kontakt:
Investorkontakt: Kjetil Bakken, VP Investor Relations, tlf: +47 918 89 889

Om Aker BP:
Aker BP er et fullverdig oljeselskap som driver leting, utbygging og produksjon på norsk kontinentalsokkel. Aker BP er operatør på Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula og Tambar. Selskapet er også partner i Johan Sverdrup-feltet. Aker BP har hovedkontor på Fornebu og er notert på Oslo Børs under tickerkoden AKERBP. Mer om Aker BP på www.akerbp.com.
Opplysningene i denne meldingen er informasjonspliktig etter verdipapirhandelloven § 5-12.

Ekstern link: http://news.cision.com/no/aker-bp-asa/r/akerbp–ex-utbytte-usd-0-3124-i-dag,c2652369
Ekstern link: http://mb.cision.com/Main/1629/2652369/931510.pdf

Nyheten er levert av Cision.

http://www.netfonds.no/quotes/release.php?id=20181101.Cision.20181023:BIT:9169:0

TekBot · november 7, 2018, 2:58pm

http://www.netfonds.no/quotes/release.php?id=20181107.Cision.20181015:BIT:1205:0

TekBot · november 9, 2018, 9:50am

DETNOR02: Distribution event notice

To the bondholders in the Det norske oljeselskap ASA 13/20 FRN (ISIN NO
001068414.5) (the “Bond Issue”) issued by Aker BP ASA (the “Issuer”) pursuant to
the bond agreement originally dated 1 July 2013 and as amended and restated from
time to time (the “Bond Agreement”).

All capitalized terms used herein shall have the meaning assigned to them in the
Bond Agreement.

On 9 November 2018 (the “Distribution Event Date”), the Issuer made a
distribution to its shareholders in the aggregate amount of NOK 911,087,178.
This notice constitutes a Distribution Event Notice as defined in the loan
agreement.

The maximum aggregated number of Bonds to be repurchased by the Issuer is equal
to 911,087,178 divided by the Face Value, being 911,087,178 (the “Distribution
Put Bonds”).

As a consequence of this dividend payment, each Bondholder may require the
Issuer to acquire Bonds at a price of 107% of par plus accrued interest, up to
its pro rata share of 911,087,178 based on the proportion that such Bondholder’s
holding of Bonds as of the Distribution Event Date (less Bonds owned directly by
the Issuer) bear to the Distribution Put Bonds. The Issuer holds NOK 7,690,568
nominal worth of DETNOR02.

The Leverage Ratio as shown in the latest Compliance Certificate is 0.95x.

The Distribution Put Option must be exercised by each Bondholder within 23
November 2018. Detailed information on how to exercise the Distribution Put
Option, including each Bondholder’s pro rata proportion of the Distribution Put
Bonds, will promptly be forwarded to all Bondholders as registered in the
Securities Depository (VPS) through the systems of VPS (the “VPS Notice”).

Bondholders (as registered directly in VPS) who do not receive a VPS Notice may
contact the Bond Trustee at [email protected] to receive a copy of its VPS
N

Ekstern link: https://newsweb.oslobors.no/message/463255

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181109.OBI.20181109S48

TekBot · november 20, 2018, 12:32pm

20/11-2018 13:31:35: (AKERBP) Financial calendar

Fenriz · november 20, 2018, 12:43pm

Greit - Tidenes verste “TA” under, men det er ment for å illustrere en idè, så håper jeg noen vil underholde den idèen litt

AKERBP har hatt en ekstremt sterk stigning, opp til toppnivået på 345, uten å ha etablert en tydelig støtte - sålangt jeg kan se.
Hvis jeg legger litt godvilje til, så kan det se ut som om det var et forsøk på å etablere et støttenivå rundt 270-275, men at det nå har blitt brutt. Hvis aksjen fortsetter å falle ned mot det som kan være et støttenivå rundt 180-190, så har vi fortsatt et langt stykke igjen før kursen er ferdig korrigert.

Noen andre som har tanker rundt dette, eventuelt kan gjøre en litt skikkelig TA og se om de ser noe av det jeg har forsøkt å visualisere ?

bilde

TekBot · desember 3, 2018, 9:58am

03/12-2018 10:56:45: (AKERBP) Acquisition of licence portfolio from Total completed

Reference is made to Aker BP’s stock exchange notice dated 31 July 2018 regarding the company’s agreement to acquire a portfolio of 11 licences on the Norwegian continental shelf from Total E&P Norge for a cash consideration of USD 205 million. All closing conditions have been fulfilled, and the closing of the transaction has now taken place.

Contact:
…

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Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889

About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker `AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

http://www.netfonds.no/quotes/release.php?id=20181203.Cision.20181203:BIT:7117:0

TekBot · desember 20, 2018, 10:33am

20/12-2018 11:32:01: (AKERBP) Invitation to Capital Markets Day 17 January 2019

Aker BP ASA is pleased to invite investors, analysts and media to its Capital Markets Day on 17 January 2019, at Fornebuporten, Lysaker, Norway.

Registration: 08.30 (CET)
…

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Presentations and Q&A: 09:00 - 12:30 (CET)

Venue: Fornebuporten (Grand Hall, building B), Oksenøyveien 10, Lysaker, Norway.

The program will include presentations by the executive management in Aker BP.

To attend the Capital Markets Day, please submit your registration to [email protected] by 10 January 2019.

A live webcast of the presentations will be available on our website www.akerbp.com/en

Investor contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker `AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

http://www.netfonds.no/quotes/release.php?id=20181220.Cision.20181214:BIT:8364:0

TekBot · desember 28, 2018, 7:31am

28/12-2018 08:30:06: (AKERBP) Acquisition of King Lear from Equinor completed

Reference is made to Aker BP’s stock exchange notice dated 15 October 2018
regarding the company’s agreement to acquire 77.8 percent and operatorship of
the King Lear discovery on the Norwegian continental shelf from Equinor for a
…

Vis børsmeldingen

cash consideration of USD 250 million. All closing conditions have been
fulfilled, and the closing of the transaction has now taken place.
Contacts:
Investor contact: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
‘AKERBP’. More about Aker BP at www.akerbp.com.

http://www.netfonds.no/quotes/release.php?id=20181228.OBI.20181228S9

TekBot · januar 2, 2019, 12:49pm

28/12-2018 13:38:00: (AKERBP) Renteregulering

TekBot · januar 8, 2019, 11:09am

08/01-2019 12:08:16: (AKERBP) Financial calendar

TekBot · januar 14, 2019, 10:36am

14/01-2019 11:35:45: (AKERBP) AKERBP: Fourth quarter 2018 production

Aker BP produced 155.7 thousand barrels of oil equivalents per day (mboepd) in the fourth quarter 2018. For the full year, the average production was also 155.7 mboepd.

The production per field is specified below.
…

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Field Interest Operator Q1-18 Q2-18 Q3-18 Q4-18
Alvheim 65% Aker BP 40.5 40.1 38.9 43.4
Bøyla 65% Aker BP 3.2 3.3 3.1 2.0
Gina Krog 3.3% Equinor 1.5 1.8 1.3 2.3
Hod 90% Aker BP 1.0 1.1 0.9 0.8
Ivar Aasen 34.8% Aker BP 24.4 23.7 22.7 23.3
Skarv 23.4% Aker BP 27.1 27.6 23.3 23.5
Tambar 55% Aker BP 1.6 5.4 4.0 2.6
Ula 80% Aker BP 6.5 5.4 6.5 5.8
Valhall 90% Aker BP 33.5 32.7 35.1 38,8
Vilje 46.9% Aker BP 5.1 4.1 3.7 3.3
Volund 65% Aker BP 14.1 12.6 11.0 9.7
Other 0.1 0.1 0.1 0.3
Total 158.6 157.8 150.6 155.7

Production volumes are subject to final re-allocation. Numbers may not add due to rounding.

Contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker `AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

http://www.netfonds.no/quotes/release.php?id=20190114.Cision.20190114:BIT:4829:0

TekBot · januar 15, 2019, 1:11pm

15/01-2019 14:10:18: (AKERBP) Aker BP awarded 21 licenses in APA 2018

We are excited about the opportunities in the licenses that Aker BP has been awarded today, says Evy Glørstad-Clark, Senior Vice President Exploration in Aker BP.

These awards increase Aker BP’s footprint in areas close to our operated hubs. We have also identified new potential growth opportunities in some of the licenses awarded today. Combined with creativity, a highly skilled exploration team and the adoption of new technologies, these awards will enable us to explore new potential core areas for Aker BP, says Glørstad-Clark.
…

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Of the 21 production licenses awarded to Aker BP, 12 are located in the North Sea (5 as operator), 3 in the Norwegian Sea (2 as operator) and 6 in the Barents Sea (4 as operator).

The APA 2018 awards were announced by the Ministry of Petroleum and Energy on Tuesday 15 January 2019. In total, 83 licenses were offered to a total of 33 companies. For more details on the awards, please see the announcement from the Ministry of Petroleum and Energy at http://oed.dep.no.

Contacts:
Investor contact: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
Media contact: Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker `AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

http://www.netfonds.no/quotes/release.php?id=20190115.Cision.20190115:BIT:6358:0

TekBot · januar 17, 2019, 6:00am

17/01-2019 07:00:07: (AKERBP) Lønnsom vekst og økt utbytte

Aker BPs positive utvikling i 2018 setter selskapet i stand til å øke
vekstambisjonen til en tredobling av produksjonen innen 2025, redusere
produksjonskostnadene fra 12 til 7 dollar per fat og øke utbyttet til
…

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aksjonærene betydelig.

Solid gjennomføring og rask implementering av forbedringer som gir lavere
kostnader, lavere utslipp og økt effektivitet er sentralt for verdiskapingen i
Aker BP. Etter hvert som vi gjennomfører flere lønnsomme prosjekt, og selskapet
vokser, har vi også besluttet å øke ambisjonene for utbyttebetaling til
aksjonærene våre, sier Karl Johnny Hersvik, administrerende direktør i Aker BP.

Fremtidens oljeindustri tilhører de mest konkurransedyktige og effektive
oljeselskapene, legger han til.

Aker BP rapporterer også økte reserver og ressurser, og opprettholder svært gode
resultater innen leting, boring og brønn, prosjekter og produksjon. Selskapet
venter en sterk kontantstrøm og har en robust balanse.

Hovedbudskap på kapitalmarkedsdagen:

· Potensial til å tredoble produksjonen innen 2025 basert på eksisterende
portefølje
· Mål om å redusere produksjonskostnadene til 7 dollar per fat innen 2023
· Styret foreslår et utbytte i 2019 på 750 millioner dollar, opp fra 450
millioner dollar i 2018, med ambisjon om å øke utbyttet med ytterligere 100
millioner dollar per år fram til 2023
· Et leteprogram for 2019 med et betydelig potensial. 15 leteprospekt skal
bores, med netto uriskede ressurser på til sammen 500 millioner fat
oljeekvivalenter (“mmboe”)
· Økte reserver (2P) til 917 mmboe, drevet av konvertering fra ressurser til
reserver.
· Styrket posisjon i selskapets kjerneområder på norsk sokkel etter oppkjøpet
av 11 lisenser fra Total og oppkjøpet av King Lear-funnet fra Equinor.
Oppkjøpene har tilført Aker BP betingede ressurser (2C) på til sammen 173 mmboe.
· Økte betingede ressurser (2C) til 946 mmboe, drevet av oppkjøp og funn.
· Selskapet ruller ut industri-ledende digitale løsninger på alle opererte
plattformer og produksjonsskip. Aker BP er det første selskapet i Norge som, med
virkning fra 16. januar 2019, styrer en bemannet plattform fra et kontrollrom på
land (Ivar Aasen-plattformen).

Guiding:

±---------------------------±---------------------±-----------------+
/ /2018 (foreløpige tall)/2019 Guiding /
±---------------------------±---------------------±-----------------+
/Produksjon /155,7 mboepd /155-160 mboepd /
±---------------------------±---------------------±-----------------+
/Investeringer /USD 1,20 milliarder /USD 1,6 milliarder/
±---------------------------±---------------------±-----------------+
/Leteutgifter /USD 359 millioner /USD 500 millioner /
±---------------------------±---------------------±-----------------+
/Fjerningskostnader /USD 243 millioner /USD 150 millioner /
±---------------------------±---------------------±-----------------+
/Produksjonskostnader per fat/USD ~12 /USD ~12,5 /
±---------------------------±---------------------±-----------------+
/Utbytte /USD 450 millioner /USD 750 millioner /
±---------------------------±---------------------±-----------------+

Lavutslippsoperatør som satser på digitalisering

Aker BP fortsetter å være blant olje- og gassprodusentene med lavest
karbonintensitet. Selskapets utslipp per produserte fat er lavere enn
gjennomsnittet for norsk sokkel, og under halvparten sammenlignet med det
globale gjennomsnittet.

I samarbeid med andre ledende selskap skal vi ytterligere redusere utslippene,
forbedre sikkerheten og øke effektiviteten gjennom hele verdikjeden vår, sier
Hersvik.

Gjennom å utnytte Aker BPs sterke industrielle allianser muliggjøres utviklingen
av nye forretningsmodeller. Dette vil være en sentral del av Aker BPs strategi i
årene som kommer.

Aker BP fortsetter å utvikle og ta i bruk industri-ledende digitale løsninger på
alle opererte plattformer og produksjonsskip. Selskapet er det første i Norge
som, med virkning fra 16. januar, styrer en bemannet plattform fra et
kontrollrom på land (Ivar Aasen-plattformen).

Både på Ivar Aasen-plattformen og på produksjonsskipet Skarv bruker selskapets
ansatte håndholdte enheter som gir tilgang til live data fra Aker BPs
industrielle dataplattform. Utrullingen av denne teknologien fortsetter på Aker
BPs øvrige plattformer og produksjonsskip.

Deling av industrielle data vil hjelpe oss til å drive fram innovasjon på alle
områder av olje- og gassindustrien. Vi ser allerede designforbedringer og
landbasert kontroll- og overvåking av utstyret vi bruker. Dette muliggjør også
smarte kontrakter med våre leverandører og nye forretningsmodeller for
framtiden. Dette er bare begynnelsen, sier Hersvik.

Sterke 2018-resultater som fundament for fortsatt vekst

Aker BP produserte 155 700 fat oljeekvivalenter per dag i 2018, i tråd med
tidligere guiding. Produksjonskostnadene for året var 12 dollar per fat.
Investeringene summerte seg til 1,2 milliarder dollar, 100 millioner dollar
lavere enn planlagt. Alle nåværende feltutviklingsprosjekter går som planlagt.

Vi har levert på målene vi satte for 2018, og Aker BP er godt rigget for å
levere på de høye ambisjonene våre i årene som kommer, sier Hersvik.

Aker BP økte sine 2P-reserver til 917 mmboe i 2018, drevet av konvertering fra
ressurser til reserver, særlig i Valhall-området. Gjennom oppkjøp og nye funn
har også Aker BP økt sine 2C-ressurser til 946 mmboe.

Sterk organisk vekst fra eksisterende portefølje

Selskapet har en stor og robust portefølje med en rekke utviklingsmuligheter.
Disse mulighetene representerer et potensial for å tredoble Aker BPs produksjon
innen 2025.

· Produksjonsstart fra Johan Sverdrup er planlagt i november 2019. Ved full
produksjon (Q4 2022) vil Johan Sverdrup bidra med mer enn 75 mboepd netto til
Aker BP.
· Aker BP sikter mot en områdeutvikling av ressursene i NOAKA-området (550
mmboe). Break-even for Aker BPs PQ-konsept er 35 dollar per fat over hele
prosjektsyklusen, som er betydelig bedre enn det alternative UPP-konseptet.
· Selskapet fortsetter å utvikle ressurspotensialet i Valhall-området.
Sammenlignet med 2018- produksjonen vil de sanksjonerte og ikke-sanksjonerte
prosjektene bidra til å doble selskapets produksjon fra Valhall.
· Ærfugl-utbyggingen vil øke produksjonen fra Skarv-området. Produksjonen fra
Ivar Aasen forventes å være stabil rundt dagens nivå. Betydelig ressurstilgang i
Alvheim-området vil gi muligheter for produksjonsøkning fram mot 2023.
· Aker BPs ambisjoner for å fornye Ula som en områdehub inkluderer økt
oljeutvinning fra Ula-reservoaret, tilknytning av eksisterende funn i området
inkludert King Lear, samt ytterligere letepotensial i området.

Vi ser store muligheter for verdiskaping ved alle våre plattformer og
produksjonsskip. Digitale innovasjoner og våre industrielle allianser vil bidra
til at vi når våre vekstambisjoner på en effektiv måte, sier Hersvik.

Økende verdiskaping gir økende utbytte

De lønnsomme vekstprognosene og den sterke balansen legger til rette for at
selskapet kan øke utbytteutbetalingene til aksjonærene. Styret foreslår et
utbytte i 2019 på 750 millioner dollar, opp fra 450 millioner dollar i 2018, med
ambisjon om å øke utbyttet med ytterligere 100 millioner dollar per år fram til
2023.

Aker BPs ambisjon er å overføre verdiskapingen i selskapet til aksjonærene.
Utbytteambisjonene reflekterer selskapets vekst, verdiskaping og sterke
finansielle stilling, sier Hersvik.

Stort og lovende leteprogram i 2019

Selskapet har et stort og lovende leteprogram i 2019. Totalt planlegger Aker BP
å delta i 15 letebrønner, med netto uriskede ressurser på til sammen 500
millioner fat oljeekvivalenter.

Dette er et veldig spennende leteprogram. Vi investerer i leting for å finne
lønnsomme fat rundt våre produksjonshuber, teste nye letemodeller og
forhåpentligvis gjøre funn som kan gi nye utbyggingsmuligheter for Aker BP, sier
Hersvik.

Presentasjon og webcast

Kapitalmarkedsdagen finner sted i dag på Fornebuporten (Grand Hall, bygg B),
Oksenøyveien 10, Lysaker, Norge. Registrering fra klokken 08:30 (CET).

En live webcast er tilgjengelig på vår nettside www.akerbp.com, og starter
klokken 09:00 (CET) i dag.
Investor contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

Lars Mattis Hanssen, Senior IR Professional, tel.: +47 99 459 460

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841

Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217
Om Aker BP:
Aker BP er et fullverdig oljeselskap som driver leting, utbygging og produksjon
på norsk kontinentalsokkel. Aker BP er operatør på Alvheim, Ivar Aasen, Skarv,
Valhall, Hod, Ula og Tambar. Selskapet er også partner i Johan Sverdrup-feltet.
Aker BP har hovedkontor på Fornebu og er notert på Oslo Børs under tickerkoden
AKERBP. Mer om Aker BP på www.akerbp.com.
Opplysningene i denne meldingen er informasjonspliktig etter
verdipapirhandel

http://www.netfonds.no/quotes/release.php?id=20190117.OBI.20190117S5

TekBot · januar 17, 2019, 6:01am

17/01-2019 07:00:21: (AKERBP) Profitable growth and increasing dividends

Strong performance in 2018 puts Aker BP in a good position to raise its growth
ambition to organically triple its production by 2025, to cut production costs
from USD 12 to USD 7 per barrel and to significantly increase the dividend
…

Vis børsmeldingen

payments to shareholders.

Excellent execution and rapid change towards lower cost, lower emissions and
improved efficiency are key ingredients to value creation in Aker BP. As we
deliver profitable projects and grow the company, we also increase our ambitions
for cash dividends to our shareholders, says Karl Johnny Hersvik, Chief
Executive Officer of Aker BP.

He continues: - The future of the E&P industry belongs to the most competitive
and efficient oil companies.

Aker BP also reports increased reserves and resources and maintains excellent
results in exploration, drilling and wells, projects and production. The company
has a strong cash flow outlook and a robust balance sheet.

Main messages at the Capital Markets Day:

· Potential to triple production by 2025 based on existing portfolio
· Targeting production costs of USD 7 per barrel in 2023
· The Board proposes dividends for 2019 of USD 750 million, up from USD 450
million in 2018, with an ambition to increase the dividend payments by USD 100
million per year to 2023
· High-potential 2019 exploration program with 15 prospects to be drilled,
targeting net unrisked prospective resources of 500 million barrels of oil
equivalents (“mmboe”)
· Increased reserves (2P) to 917 mmboe, driven by conversion of resources to
reserves.
· Strengthened position in core areas in Norway after the acquisition of 11
licenses from Total and the acquisition of the King Lear discovery from Equinor,
adding contingent resources (2C) totaling 173 mmboe
· Increased contingent resources (2C) to 946 mmboe, driven by acquisitions and
discoveries.
· Roll-out of industry-leading digital solutions at all operated assets.
Effective from 16 January 2019, the Ivar Aasen-platform is the first manned
platform in Norway to be controlled from an onshore control room

Guidance summary:

±----------------------±---------------±--------------+
/ /2018 preliminary/2019 Guidance /
±----------------------±---------------±--------------+
/Production /155.7 mboepd /155-160 mboepd /
±----------------------±---------------±--------------+
/Capex /USD 1.20 billion/USD 1.6 billion/
±----------------------±---------------±--------------+
/Exploration spend /USD 359 million /USD 500 million/
±----------------------±---------------±--------------+
/Abandonment spend /USD 243 million /USD 150 million/
±----------------------±---------------±--------------+
/Production cost per boe/USD ~12 /USD ~12.5 /
±----------------------±---------------±--------------+
/Dividend proposal /USD 450 million /USD 750 million/
±----------------------±---------------±--------------+

Low carbon operator at the forefront of digitalization

Aker BP continues to be an operator with low carbon emissions intensity; less
than half the global average, and below the average for the Norwegian
Continental Shelf.

In cooperation with other great companies, we are going to reduce emissions,
improve safety and increase efficiency through the entire value chain, says
Hersvik.

Leveraging strong industrial alliances and enabling new business models with its
partners continues to be an important part of Aker BP’s strategy going forward.

The company is developing and adopting industry-leading digital solutions.
Effective from 16 January 2019, Aker BP is the first company in Norway to
control a manned platform from shore after the successful onshoring of the Ivar
Aasen control room. Both on the Ivar Aasen platform and on Skarv FPSO, operators
are using hand-held tablets connecting them with live data in Aker BP’s
Industrial Data Platform. The roll-out continues on the company’s remaining
assets.

Sharing of industrial data will help us drive innovation in all areas of the
E&P industry. We are already seeing design improvements and onshore monitoring
of our equipment. This has facilitated smarter contracts with suppliers,
enabling new business models for the future. This is only the beginning, says
Karl Johnny Hersvik, Chief Executive Officer of Aker BP.

Strong performance in 2018 - a foundation for continued growth

Aker BP produced 155.7 mboepd, in line with the guidance for 2018. Production
costs in 2018 were USD 12 per boe. Capital spending amounted to USD 1.2 billion,
USD 100 million below plan, and all current field developments remain on track.

We have delivered on the goals we set for 2018. Aker BP is well positioned to
deliver on our high ambitions for the coming years, says Hersvik.

Aker BP increased its reserves to 917 mmboe in 2018, driven by conversion of
resources to reserves, especially in the Valhall area. Through license
acquisitions and discoveries, the company’s contingent resources increased to
946 mmboe.

Strong organic growth from existing portfolio

The company has a large and robust opportunity set in its existing portfolio.
These opportunities represent a potential to triple Aker BP’s production by
2025.

· First oil from Johan Sverdrup is planned for November 2019. At full
production (Q4 2022) Johan Sverdrup will contribute more than 75 mboepd net to
Aker BP.
· Aker BP is targeting an area development of 550 mmboe at NOAKA. Full cycle
project break-even for Aker BP’s PQ concept is USD 35 per barrel, significantly
better than the alternative UPP concept.
· The company continues to unlock the resource potential in the Valhall area.
Sanctioned and non-sanctioned projects will contribute to double the Valhall
production compared to 2018.
· The Ærfugl development will boost production from Skarv, and the production
from Ivar Aasen is expected to remain stable around current levels. Significant
resource additions in the Alvheim can increase production towards 2023.
· Aker BP’s ambition to rejuvenate Ula as an area hub includes increased oil
recovery from the Ula reservoir, tie-ins of discoveries including King Lear, and
exploration potential in the area.

We see large opportunities for value creation from all our assets. Digital
innovations and industrial alliances will help us achieve our growth ambitions
in an efficient manner, says Hersvik.

Increasing value creation yields increasing dividends

The profitable growth projections and the strong balance sheet facilitate a
higher dividend payout from the company. The Board proposes dividends for 2019
of USD 750 million, up from USD 450 million in 2018, with an ambition to
increase the dividend payments by USD 100 million per year to 2023.

Aker BP’s ambition is to return the value creation to the shareholders. The
dividend ambition is a reflection of the company’s growth, value creation and
strong financial position, Hersvik says.

Large and promising exploration program for 2019

The company has a large and promising exploration program for 2019. In total,
Aker BP plans to participate in 15 exploration wells, targeting 500 mmboe of net
prospective resources.

This is a very exciting exploration program. We are investing to find
profitable barrels around our hubs, test new plays and to generate new potential
stand-alone development opportunities for Aker BP, says Hersvik.

Presentation and webcast

The Capital Markets Day presentations will be given today at Fornebuporten
(Grand Hall, building B), Oksenøyveien 10, Lysaker, Norway. Registration from
08:30 (CET).

A live webcast of the presentations will be available on our website
www.akerbp.com, and will start at 09:00 (CET) today.
Investor contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

Lars Mattis Hanssen, Senior IR Professional, tel.: +47 99 459 460

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841

Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217
About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
‘AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities

http://www.netfonds.no/quotes/release.php?id=20190117.OBI.20190117S6