2021 Highlights
- Completion of merger with Premier; realisation of synergies progressing as planned
- Production of 175 kboepd; strong Q4 production of 214 kboepd following completion of maintenance programmes
- Opex of $15.2/boe and total capex of $935 million, lower than forecast
- Successful drilling at J-Area, Elgin/Franklin, AELE, Beryl (UK), and Natuna and Tuna (Indonesia)
- Tolmount (UK) start up underway
- Portfolio aligned with strategy; exits from Brazil exploration and Sea Lion (Falkland Islands)
- Continued focus on safety and the environment; no serious injuries or significant spills; GHGi reduced to 17 kgCO2e/boe (net of offsets)
- Free cash flow of $678 million, reducing net debt1 and leverage to $2.3 billion and 0.9x; introduction of an initial $200 million annual dividend
1Excludes unamortised fees