|Bid||310.20 x 0|
|Ask||310.30 x 0|
|Day's Range||308.30 - 311.30|
|52 Week Range||213.50 - 347.00|
|Beta (3Y Monthly)||0.58|
|PE Ratio (TTM)||476.92|
|Earnings Date||May 2, 2019|
|Forward Dividend & Yield||13.41 (4.44%)|
|1y Target Est||31.77|
Lundin Petroleum AB (Lundin Petroleum) will publish its financial report for the first quarter 2019 on Thursday 2 May 2019. For the first quarter 2019, Lundin Petroleum will expense pre-tax exploration costs of approximately MUSD 37 and recognise a net foreign exchange gain of approximately MUSD 1.
As UK oil and gas executives queued to get through security at the National Museum of Scotland in central Edinburgh last month, environment campaigners chanted: “How do you sleep at night?”. for climate change activists but the lively protests at the industry dinner attended by many smaller explorers were also a reminder for companies such as Premier Oil and Tullow that more attention is coming their way. For the “independents”, questions around climate change and the shift to low carbon energy generation — which have been a key feature of every big energy conference this year — are even more uncomfortable given they are specialist exploration and production companies.
Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway), as operator has agreed the final investment decision to proceed with an extended well test (EWT) on the Rolvsnes weathered and fractured basement discovery on the Utsira High. The Rolvsnes oil discovery is located in PL338C on the southern side of the Edvard Grieg field and is a fractured and weathered granite basement reservoir. The Rolvsnes EWT will be conducted through a 3 km subsea tie-back of the existing Rolvsnes horizontal well to the Edvard Grieg platform, with first oil scheduled in the second quarter 2021.
Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed exploration well 7132/2-2, targeting the Gjøkåsen Deep prospect in PL857 in the southern Barents Sea. The well was drilled to a vertical depth of 3,495 metres below sea surface, in late Permian formations, and no reservoir rocks were encountered in this interval. Partners in PL857 are Lundin Norway, Aker BP and Petoro with a 20 percent working interest each.
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The Annual General Meeting of Shareholders (AGM) of Lundin Petroleum AB (Lundin Petroleum or the Company) was held today Friday 29 March 2019 in Stockholm. The Company's and the Group's income statements and balance sheets for the financial year 2018 were adopted and the members of the Board of Directors and the Chief Executive Officer were discharged from liability for the financial year 2018. Before payment, each quarterly dividend of USD 0.37 per share shall be converted into a SEK amount based on the USD to SEK exchange rate published by Sweden’s central bank (Riksbanken) four business days prior to each record date (rounded off to the nearest whole SEK 0.01 per share).
Lundin Petroleum AB (Lundin Petroleum) announces that the offshore installation of the Johan Sverdrup development project has been completed. Following the installation of the riser and drilling platforms in 2018, the remaining topside facilities, consisting of the processing platform and living quarters and the relevant bridge links, have now been successfully installed offshore at the field location, using the single lift Pioneering Spirit vessel. The fully installed Johan Sverdrup offshore facility consists of four jackets and topsides, three bridges to link the platforms, oil and gas pipelines connected to onshore facilities and the cable to connect the field with power from shore.
Lundin Petroleum AB (Lundin Petroleum) announces that the first quarterly instalment of the proposed dividend for 2018 of USD 0.37 per share will amount to SEK 3.43 per share,.
Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) as operator has, with its partners Wintershall Norge AS (Wintershall) and OMV Norge AS (OMV) submitted the plan for development and operation (PDO) for the Solveig field (previously called Luno II). The Solveig oil discovery in PL359, is located 15 km south of the Edvard Grieg field and will be developed via a subsea tie-back to the Edvard Grieg platform, involving five development wells with gross peak production of 30 Mboepd and is anticipated to start up in the first quarter of 2021.
Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan. The proposal announced on Friday said the fund's stakes in integrated companies, such as Royal Dutch Shell, ExxonMobil and other majors involved in everything from exploration to selling fuel at the roadside, would not be sold. The state, which has built its wealth on the back of North Sea oil and gas reserves, also has no plan to sell its direct stake in Norwegian energy firm Equinor or its direct holdings in Norwegian oil and gas fields.
The Norwegian government's proposal to exclude oil and gas explorers and producers from its trillion-dollar sovereign wealth fund will affect 1.2 percent of the fund's equity holdings, the fund said on Friday. "According to the FTSE's definition, the fund held exploration and production companies with an approximately value of 66 billion kroner ($7.50 billion) by the end of 2018," it said in a statement.
Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that the Annual and Sustainability Reports for 2018 have been published and are available to download on www.lundin-petroleum.com. 2018 was an outstanding year for Lundin Petroleum with the high quality asset base generating record high operating cash flow, EBITDA and free cash flow. The strong cash flow outlook for the next decade resulted in Lundin Petroleum announcing an attractive and sustainable updated dividend policy and the Board of Directors proposing a cash dividend for 2018 of USD 500 million, to be paid in quarterly instalments, to the 2019 Annual General Meeting.
Alex Schneiter has been the CEO of Lundin Petroleum AB (publ) (STO:LUPE) since 2015. First, this article will compare CEO compensation with compensation at other large companies. After that, weRead More...
Norwegian oil and gas company Aker BP is switching emphasis from M&A towards exploration, taking a potentially riskier path to increase its resources after years when it has relied on acquisitions to add the bulk of its new barrels. The company said the change of tack was prompted by falling exploration costs, partly as a result of new technologies, as well as the rising cost of acquisitions in the energy sector because of stronger oil prices. "Back in 2015-2016, we acquired resources for 50-60-70 cents a barrel, which is really hard to drill out on the Norwegian continental shelf," CEO Karl Johnny Hersvik told Reuters in an interview.
Norwegian oil and gas company Aker BP is switching emphasis from M&A towards exploration, taking a potentially riskier path to increase its resources after years when it has relied on acquisitions to add the bulk of its new barrels. The company said the change of tack was prompted by falling exploration costs, partly as a result of new technologies, as well as the rising cost of acquisitions in the energy sector because of stronger oil prices.
The shareholders of Lundin Petroleum AB are hereby given notice of the Annual General Meeting of Shareholders to be held on Friday 29 March 2019 at 1 p.m. (Swedish time). The Annual General Meeting will be translated from Swedish to English and from English to Swedish.
Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling of exploration well 7121/1-2 S, targeting the Pointer and Setter prospects in PL767 in the southern Barents Sea. Oil shows were encountered at various intervals in the Pointer prospect but the well is classified as dry. In the Pointer prospect, about 130 metres of sand with oil shows was found, however the reservoir was evaluated to be tight and of low quality across the entire interval.
Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed exploration well 7132/2-1, targeting the Gjøkåsen Shallow prospect in PL857 in the southern Barents Sea. This is the first exploration well in PL857 and was operated by Equinor with a working interest of 40 percent. Partners in PL857 are Lundin Norway, Aker BP and Petoro with a 20 percent working interest each.
Swedish oil firm Lundin Petroleum, a partner in Norway's giant Johan Sverdrup oilfield, raised its output expectations and dividend payment plans on Wednesday after beating fourth-quarter core profit forecasts. The company plans to drill 15 exploration wells this year, a record, with a goal of discovering more than 750 million barrels of oil equivalent in potential new resources, it told an investor presentation in London. Lundin now expects output of over 150,000 barrels of oil equivalent per day (boepd) in 2020, up from a previous forecast of more than 130,000 boepd and compared with 81,100 boepd in 2018.
Lundin Petroleum AB (Lundin Petroleum) is pleased to announce its 2019 development, appraisal and exploration budget which totals USD 1.23 billion and represents a 21 percent increase on 2018 capital expenditure due to anticipated new project sanctions.
Lundin Petroleum AB (Lundin Petroleum) announces an updated dividend policy and that the Board of Directors proposes a 2018 dividend of USD 1.48 per share, corresponding to USD 500 million. Lundin Petroleum’s objective is to create attractive shareholder returns by investing through the business cycle with capital investments allocated to exploration, development and production assets. The Company’s expectation is to create shareholder returns both through share price appreciation and by distributing a sustainable yearly dividend - paid in quarterly instalments and denominated in USD - with the plan of maintaining or increasing the dividend over time in line with the Company’s financial performance and being sustainable below an oil price of USD 50 per barrel.
Strong financial performance with record free cash flow generation of MUSD 663Board of Directors propose a dividend for 2018 of USD 1.48 per share, corresponding to MUSD.
Today we are going to look at Lundin Petroleum AB (publ) (STO:LUPE) to see whether it might be an attractive investment prospect. In particular, we'll consider its Return On Capital Read More...
Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly-owned subsidiary Lundin Norway AS (Lundin Norway) has entered into an agreement with Lime Petroleum AS (Lime Petroleum) a subsidiary of Rex International Holding Limited, to acquire its entire Utsira High acreage position covering the Rolvsnes and Goddo basement area. The acquisition takes Lundin Norway’s working interest in the Rolvsnes oil discovery in PL338C and in the recently awarded, adjacent licence PL338E1 from 50 to 80 percent and the Goddo prospect in PL815 from 40 to 60 percent.