Category: Lundin Petroleum
6 Posts
POSTED ON October 14, 2014 BY Travis McPherson

Since Lundin Petroleum (LUPE:OMX) began trading in 2001 at an IPO price of 2 Swedish Krona (roughly CAD $0.31) per share, shares have risen 5,265%.  To put that in perspective, the stock market darling Apple is up 3,898% over the same period. The Stockholm-based company which is 1/3rd controlled by the Lundin Family Trust has been making… Continue Reading

POSTED ON March 27, 2014 BY Travis McPherson

(A short video explaining the size, significance and development of the Johan Sverdrup oil discovery – Source: Lundin Petroleum AB) Lundin Petroleum (LUP:TSX) has announced spectacular results from their appraisal well on the behemoth Johan Sverdrup oil discovery in Norway.  The appraisal well was a wild success, to say the least.  Initial testing flowed at a rate… Continue Reading

POSTED ON February 13, 2014 BY Travis McPherson

LUP data by YCharts Lundin Petroleum (LUP:TSX) the 40% operator of the massive Johan Sverdrup oil field and their partners (40% Statoil, 20% Maersk Oil) have announced development plans.  Johan Sverdrup has between 1.8 to 2.9 billion barrels of gross recoverable contingent resources making it one of Norway’s largest oil discoveries.  At full field production, the group… Continue Reading

POSTED ON February 05, 2014 BY Travis McPherson

Lundin Petroleum (LUP:TSX) released their fiscal 2013 numbers (although production was pre-released on January 21st) which saw them produce an average of 32,700 boe/d in the year and make $975.6 million operating cash flow on $1.2 billion of revenue.  However, EBITDA fell from $1.14 billion in 2012 to $960.9-million this year.  Q4 EBITDA fell below… Continue Reading

POSTED ON January 21, 2014 BY Travis McPherson

Norway’s largest domestic non-state owned oil producer, Lundin Petroleum (LUP:TSX) announced fourth quarter and full year 2013 production results today.  The company produced an average of 31,100boe/d in the fourth quarter and 32,700boe/d for the full year average.  In the fourth quarter, Lundin Petroleum received an average price per barrel of US$109.  This remains a… Continue Reading

POSTED ON January 08, 2014 BY Travis McPherson

This morning, Norway’s largest oil producer, Lundin Petroleum (LUP:TSX, LUPE:ST) announced its capital allocation for 2014 and its a staggering $2.1 billion.  Projected expenditures on development projects in 2014 are expected to grow by 25% over the 2013 to $1.4 billion.  The company expects to spend roughly the same this year as they did last year on exploration which is… Continue Reading

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