Equinor ASA · OSL:EQNR
Equinor ASA — Q1 2018 Earnings Presentation
10 slides from Equinor ASA's earnings presentation, 2018
Slide 1: 1st Quarter 2018 results
1 st Quarter 2018 results Eldar Sætre President and Chief Executive Officer
Slide 2: First quarter 2018
. Delivering high value. First quarter 2018 • Solid earnings and very strong cash flow • Net debt ratio reduced to 25.1% • High production at higher prices • Project portfolio progressing according to plan • Dividend of USD 0.23 per share Page 2 | by Eldar Sætre, President and Chief Executive Office
Slide 3: Safety
. Delivering high value. Safety Serious incident frequency Serious incidents per million work-hours, 12-month rolling figures 2,2 1,9 1,4 1,1 1,0 0,8 0,8 0,6 0,6 0,6 0,5 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1Q 2018 3 Page 3 | by Eldar Sætre, President and Chief Executive Officer
Slide 4: Financial results
. Delivering high value. Financial results 1Q 2018 • High production Million USD capturing higher prices • Sustaining cost improvements 1,285 4,960 (546) 4,414 (2,940) 1,473 • Tax rate at 66.6% Net income Reported NOI Adjustments Adjusted earnings Tax on adj. Adjusted earnings earnings after tax 1Q
Slide 5: Solid adjusted earnings from all segments
. Delivering high value. Solid adjusted earnings from all segments E&P Norway E&P International MMP • Continued high production level • Record high production • Strong results from gas business and • Stable underlying operating cost • Stable underlying operating cost high regularity at the onshore p
Slide 6: High production
. Delivering high value. High production • Record high international production • Higher gas deliveries into strong markets • Increased well capacity • Solid production regularity • Ramp-up of new fields Equity production mboe/d 2,146 2,146 2,180 2,180 Gas 753 799 Liquids 974 1,041 International NCS
Slide 7: Strong free cash generation
. Delivering high value. Strong free cash generation 2018 YTD Cash flow • Very strong cash flow from Million USD operations • Net debt ratio reduced from 29.0% to 25.1% Cash flow from operating • Martin Linge consideration paid activities Taxes paid (1,118)2 first quarter 7,1311 Dividends paid Proce
Slide 8: Outlook
. Delivering high value. Outlook PERIOD OUTLOOK Organic capex 2018 Around 11 bn USD 1 Exploration 2018 Around 1.5 bn USD 2017 – 2018 1-2% Production 2017 - 2020 3-4% CAGR 2018 Around 30 mboe per day Maintenance 2Q 2018 Around 50 mboe per day 1. Based on USD/NOK exchange rate of 8.25. Page 8 | by Eld
Slide 9: 1st Quarter 2018 results
1 st Quarter 2018 results Eldar Sætre President and Chief Executive Officer
Slide 10: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements that involve risks and uncertainties. In unsuccessful drilling; an inability to find and develop reserves; ineffectiveness of crisis management some cases, we use words such as "ambition", "continue", "could", "