Slide 1: Q2 2022 Interim Results Presentation
Q2 2022 Interim Results Presentation
Slide 2: Q2 2022 highlights
Q2 2022 highlights • Strong operational and financial results and cash flow powered by Net production boepd high oil and gas prices 94,175 92,630 91,980 92,549 91,937 • Exited quarter in net cash position for first time since 2018 • Solid operated production in flagship Kurdistan Tawke license as na
Slide 3: Financial results – key figures
Financial results – key figures Revenues Operating profit Net profit USD million USD million USD million 396 361 339 253 236 184 128 140 81 61 65 65 72 57 31 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 • High revenue driven
Slide 4: Q2 2022 cash flow
Q2 2022 cash flow • Operational cash flow of USD 341 million in Q2 2022 Q2 2022 cash flow USD million (USD 276 million in Q1 2022) • North Sea tax instalments of net USD 25 million paid in Q2 2022 (USD 12 million in Q1 2022) • Investment activities of USD 134 million (USD 95 million in Q1 2022) cons
Slide 5: Capital structure
Capital structure Cash deposits Net debt Equity ratio USD million USD million Percent 848 42 801 737 37 396 34 35 360 33 586 454 153 27 -129 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 • Balance sheet strengthened, with stro
Slide 6: Looking ahead
Looking ahead • In Kurdistan, raising projected 2022 Tawke license gross operated production to 107,000-109,000 bopd (from 105,000 bopd) • In the North Sea, three more 2022 exploration wells remain to be drilled • Maintaining 2022 projected operational spend of USD 800 million • Returning cash to sh
Slide 7: Important notice
Important notice This presentation (the “Presentation”) has been prepared and delivered by DNO ASA (“DNO” or the “Company”). Copyright of all published material including photographs, drawings and images in this document remains vested in DNO and third party contributors as appropriate. Accordingly,
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