Lundin Petroleum’s COO on 1Q Earnings, 2019 Outlook, Projects, Dividend, Oil

The transcript discusses London Petroleum's strong Q1 performance, highlighting production and cost achievements. It provides an update on the Yarns Fair Drop project, emphasizing its progress and expected production increase. The discussion includes production ramp-up projections, dividend guidance, and financial strategy. The impact of the Norwegian Sovereign Wealth Fund's divestment decision is analyzed, with a focus on risk management. Finally, the transcript addresses oil price volatility and the company's conservative business strategy.

What was a key factor in London Petroleum's strong first quarter performance?

• Increased marketing efforts

• Higher oil prices

• New partnerships

• Production and operating costs ahead of forecasts

When is the first oil from the Yarns Fair Drop project expected?

• January

• November

• March

• July

What is the designed production capacity for the first phase of the Yarns Fair Drop project?

• 200,000 barrels per day

• 440,000 barrels per day

• 600,000 barrels per day

• 350,000 barrels per day

What is the dividend guidance for London Petroleum in 2019?

• $1 billion

• $750 million

• $250 million

• $500 million

How does London Petroleum plan to manage its dividend strategy?

• By increasing debt

• By reducing production

• By balancing growth, debt management, and maintaining dividends

• By cutting operational costs

What is the impact of the Norwegian sovereign wealth fund's decision on London Petroleum?

• Significant impact

• No impact

• Minimal impact

• Complete divestment

How does London Petroleum plan for oil price volatility?

• By planning conservatively

• By increasing production

• By expanding into new markets

• By investing in new technologies