Harbour Energy Plc · LSE:HBR
Harbour Energy — BNP Paribas High Yield & Leveraged Finance Conference (January 2022)
12 slides from Harbour Energy's conference presentation, January 2022
Slide 1: Investor Presentation: BNP Paribas High Yield & Leveraged Finance Conference
Investor Presentation: BNP Paribas High Yield & Leveraged Finance Conference Harbour Energy plc January 2022
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, including in relation to the financial condition of the Harbour group (the "Group") and the results of operations and businesses of the Group. Forward-looking statements are sometimes, but not always, identified by their use of a date
Slide 3: Harbour at a glance: A global independent O&G company
Harbour at a glance A global independent O&G company Norway UK c.200 kboepd (2022-2024) Mexico Vietnam $15-16/boe c.950 mmboe Operating cost1 2P reserves + 2C resources3 Brazil (2022F) (YE 2021) Indonesia c.$1.3 bn2 $200m per annum Total capex (inc.decom) Dividend Policy (2022F) Falkland Islands c.1
Slide 4: Key credit highlights
Key credit highlights A diversified business of scale underpinned by high quality and resilient assets 1 A cash generative portfolio with a significant degree of operational control and strong 2 focus on managing costs and profitability ESG leadership, a clear and tangible emission reduction strateg
Slide 5: Europe Assets – a diversified business of scale underpinned by high quality and resilient assets
Europe Assets – a diversified business of scale underpinned by high quality and resilient assets West of Shetlands Beryl Area Significant asset diversification Operated Non-operated >90% of Group’s production from the UK No single asset accounts for >20% of production Balance between oil & gas
Slide 6: Significant near term value creation
Significant near term value creation Track record of reserves replacement 2P reserves1 Production mmboe 2P reserves Production kboepd Reserves replacement supported by reinvestment 200 500 and M&A Proven track record in converting reserves and resources into production 250 100 Production has g
Slide 7: A diversified portfolio and disciplined hedging, underpins resilient revenue generation
A diversified portfolio and disciplined hedging, underpins resilient revenue generation UK gas an increasing part of Harbour’s production mix Production Crude marketing, UK gas sales % Balanced and diverse portfolio (phase, quality, UK gas SE Asia gas Oil Condensate location, sales logistics) 100
Slide 8: A strong financial position
A strong financial position Net debt and leverage expected to reduce to $2.3-$2.4bn and Significant liquidity, no material near term debt maturities 1.0x as of YE 2021 $m 3,000 Significant liquidity, well in excess of $1bn as of YE 2021 $4.5bn RBL, including $1.25bn of LCs and $500m unsecured
Slide 9: A robust financial framework
A robust financial framework Long term value creation at Harbour Energy Capital allocation priorities Operational inputs Responsible and safe 1 2 3 operator Safeguard Ensure a robust Shareholder balance and diverse returns sheet portfolio Operational excellence Strong operating Target leverage of
Slide 10: Three year (2022-2024) capital allocation outlook
Three year (2022-2024) capital allocation outlook Balancing investment in attractive projects with a sustainable dividend policy and debt repayments Illustrative three year capital allocation1 $m Largely discretionary Over 2022-2024, Harbour’s 100% 10-15% business: Delivers production of c.200 7%
Slide 11: Guidance
Guidance FY 20211 20211 FY 2022 Guidance Forecast Guidance Production 170-180 175 195-210 kboepd kboepd kboepd Operating cost 15-16 c.16 15-16 $/boe $/boe $/boe Capital expenditure (ex decom.) 775 1.0 $m $bn c.1.1 $bn Decommissioning expenditure 250 300 $m $m 1 2021 numbers are provided on a reporte
Slide 12: investor.relations@harbourenergy.com www.harbourenergy.com
+44 (0)1224 086000 investor.relations@harbourenergy.com www.harbourenergy.com
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