Lundin Petroleum

Lundin Petroleum

den 25 maj 2016

Important legal information

Lundin Petroleum is a swedish oil and gas producer based in Stockholm. The company has been founded in 2001 and employs about 600 people as of May 2016. The company exploits oil principally in Norway and Malaysia but has also oil fields in France, The Netherlands and Russia. According to their own statements, Lundin Petroleum aims to generate sustainable values for shareholders through investing in oil exploration project, growing its asset base and acquiring new hydrocarbon reserve. Lundin Petroleum has proven and probable reserves of 716,2 million barrels of oil equivalent (MMBOE)

Lundin Petroleum produced 32,300 barrels of oil equivalent per day (boepd) in 2015 and the company has forecast an average production between 65,000 boepd and 75,000 boepd for 2016, which approximately 83% are stemming from oil fields in Norway. The company’s production amounted to 62,400 boepd in the first quarter of 2016. Lundin Petroleum sees revenue increased in the quarter of 2016, as the net result jumped from USD -230,9 million in Q1 2015 to 114,3 million in Q1 2016. The company has succeed in a challenging environment to generate profit in particular before the background of the downturn in the oil prices which reached a 13 year low at USD 28 in January 2016.. This negative trend is likely to continue in the second quarter of 2016, however the future development remain to be seen.

Bloomberg consensus set the 12-month target price to SEK 138,31. As of 24 May 2016, the price per share was SEK 150,80 Currently, 3 analysts set Lundin Petroleum on BUY, 13 on HOLD and 11 on SELL recommendation.



2022-12-08 04:14:20