Related Articles
Lundin focuses on early-life or undeveloped assets
Forward article link
Share PDF with colleagues

UK GBA ticks Lundin boxes

The Swedish-headquartered producer says it is comfortable sticking with Norway. But could JOG’s farm-out process attract it over the median line?

“The core focus of our business is organic growth through the drillbit,” Nick Walker, CEO of Norwegian continental shelf (NCS) specialist Lundin Energy told a March investor virtual town hall. “But acquisitions can play a part, and we have done a number of smaller ones over the years, including Wisting last year.” An average finding cost of $0.80/bl oe across a 1bn bl/oe+ resource portfolio plays a role in preferring organic to inorganic growth—"you cannot buy reserves at that price”, says Walker. But alongside near-field exploration and drilling in both mature and frontier NCS areas, he sees a role for “opportunistic” acquisitions.    “We have to be able to create value from them. It is n

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
North Sea independents aim to reap carbon footprint benefits
3 December 2021
Two of the basin’s larger producers consider ways to cash in on relatively greener production
Southeast Asian NOCs take different paths
3 December 2021
Petronas, PTT and Pertamina are pursuing divergent strategies after coming to dominate the region’s upstream in recent years
Aramco back to petchems drawing board
3 December 2021
The Saudi heavyweight’s international downstream expansion strategy will need another reboot
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video