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Lundin Petroleum AB (LUPE.ST)

LUPE.ST on Stockholm Stock Exchange

279.60SEK
23 May 2018
Change (% chg)

-8.40kr (-2.92%)
Prev Close
288.00kr
Open
281.50kr
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284.90kr
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275.10kr
Volume
1,166,786
Avg. Vol
834,742
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295.40kr
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156.10kr

Latest Key Developments (Source: Significant Developments)

Sweden's Lundin Petroleum initiates share repurchase programme
Thursday, 3 May 2018 

May 3 (Reuters) - Lundin Petroleum AB ::REG-LUNDIN PETROLEUM'S BOARD OF DIRECTORS HAS RESOLVED ON A SHARE REPURCHASE PROGRAMME.MAXIMUM NUMBER OF SHARES REPURCHASED SHALL BE SUCH THAT SHARES HELD IN TREASURY FROM TIME TO TIME SHALL NOT EXCEED TEN PERCENT OF ALL OUTSTANDING SHARES OF COMPANY.SHARES MAY BE REPURCHASED AT ONE OR MORE OCCASIONS UP UNTIL AGM IN 2019.  Full Article

Lundin Petroleum Q1 EBITDA above forecast, keeps 2018 production guidance
Wednesday, 2 May 2018 

May 2 (Reuters) - Lundin Petroleum AB ::LUNDIN PETROLEUM Q1 REVENUE $692.9 MILLION (REUTERS POLL $541 MILLION).LUNDIN PETROLEUM Q1 EBITDA $456.5 MILLION (REUTERS POLL $433 MILLION).PRODUCTION GUIDANCE FOR 2018 REMAINS UNCHANGED AT BETWEEN 74 TO 82 MBOEPD.LUNDIN PETROLEUM Q1 NET RESULT $228.8 MILLION (REUTERS POLL NET $243 MILLION).WORK ON JOHAN SVERDRUP PHASE 2 IS ALSO WELL UNDERWAY AND WE WILL SUBMIT PHASE 2 PDO BEFORE SEPTEMBER 2018.LUNDIN PETROLEUM Q1 PRODUCTION AT 83,100 BOEPD (REUTERS POLL 82,600 BOEPD).AIMS TO SUBMIT A PDO FOR LUNO II DISCOVERY AROUND END OF 2018.EXPLORATION PROGRAMME FOR 2018 HAS BEEN UPDATED TO TEN WELLS, TARGETING A REVISED TOTAL OF APPROXIMATELY 600 MMBOE OF NET UNRISKED RESOURCES IN OUR SIX CORE EXPLORATION AREAS.  Full Article

Lundin Petroleum to book Q1 forex gain of $162 million
Wednesday, 18 Apr 2018 

April 18 (Reuters) - Lundin Petroleum AB ::WILL RECOGNISE A NET FOREIGN EXCHANGE GAIN OF APPROXIMATELY MUSD 162 FOR Q1 OF 2018.ITEM IS LARGELY NON-CASH AND WILL HAVE NO IMPACT ON OPERATING CASH FLOW OR EBITDA.NORWEGIAN KRONE AND EURO STRENGTHENED AGAINST US DOLLAR BY APPROXIMATELY 5 AND 3 PERCENT RESPECTIVELY DURING Q1 OF 2018.FOREIGN EXCHANGE GAIN MAINLY RELATES TO REVALUATION OF LOAN BALANCES AT PREVAILING EXCHANGE RATES AT BALANCE SHEET DATE.  Full Article

Lundin Petroleum will consider paying dividend before Johan Sverdrup startup-CEO
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Lundin Petroleum Ab :Lundin ceo says will seriously consider paying dividend before johan sverdrup field startup as oil prices rise to $60 a barrel.Lundin CEO: "This is definetely on the table... I'm also more optimistic about the oil price.".Lundin Petroleum said previously it would consider paying dividend before Johan Sverdrup field startup expected in end-2019 if oil prices rise to a sustainable levels of $60 a barrel.Brent crude LCOc1 has been trading at over $60 a barrel since Oct. 27.  Full Article

Lundin Q3 EBITDA beats forecast, raises output guidance
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Lundin Petroleum Ab :Lundin petroleum q3 revenue $‍517.2​ million (Reuters poll $441 million).Lundin petroleum q3 ebitda $‍382.4​ million (Reuters poll $363 million).Lundin petroleum q3 net result $‍227.0​ million (Reuters poll $251 million).Lundin petroleum q3 operating cashflow at $‍389.6​ million.Says its total cash operating cost is forecast to be below full year guidance of usd 4.60 per barrel​‍‍‍.Lundin petroleum end-q3 net debt at $‍4,024​ million versus $4,081 million at end-q2.2017 full year development expenditure guidance reduced from musd 1,085 to musd 980​.Says expects to see further savings at johan sverdrup development as project progresses.‍Says full year production expected at or above higher end of 80-85 mboepd guidance range​.Says will soon announce our 2018 drilling program, targeting more prospects in southern barents sea, utsira high and mandal high​.‍Says remains optimistic about significant exploration potential in southern barents sea, despite recent disappointing results​.Says ‍expects to see further upward pressure on oil price as supply market tightens.Says ‍will continue to pursue organic growth strategy​.  Full Article

Lundin Petroleum outlines Q3 gains, impairments
Wednesday, 18 Oct 2017 

Oct 18 (Reuters) - Lundin Petroleum Ab :profitability for the third quarter of 2017 will be impacted by certain expensed exploration costs and impairment charges, as well as a net foreign currency exchange gain mainly related to the revaluation of loan balances.These items are largely non-cash and will have no impact on operating cash flow or EBITDA‍.will expense pre-tax exploration costs and impairment charges of approximately musd 33 and recognise a net foreign exchange gain of approximately musd 185 for q3 of 2017​.‍will incur pre-tax exploration costs of approximately musd 16 which will be charged to income statement and offset by a tax credit of approximately musd 13​.‍will incur a non-cash impairment charge in relation to brynhild field in q3 of 2017 of approximately musd 17 with a corresponding tax credit of musd 14.will recognise a net foreign exchange gain of approximately MUSD 185 for the third quarter of 2017. The Norwegian Krone and the Euro strengthened against the US Dollar by approximately 5 and 3 percent respectively during the third quarter of 2017 and the foreign exchange gain mainly relates to the revaluation of loan balances at the prevailing exchange rates at the balance sheet date​.  Full Article

Lundin Petroleum aims to raise output by 17 pct/year 2016-2022
Monday, 13 Feb 2017 

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 

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 

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 

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

RPT-Gas supplier VNG's Norwegian energy unit attracts buyout-backed firms - sources

LONDON/FRANKFURT, April 27 German gas supplier VNG is attracting interest from private equity-backed energy firms including Chrysaor and Point Resources for its Norwegian Norge oil and gas business, which could fetch up to $500 million, three sources said.