“Rockhopper’s strategy is to build a well-funded full-cycle, exploration led E&P company.
This strategy is underpinned by three core themes: Balanced portfolio in core geographical areas, maintaining balance sheet strength and value accretive exploration.”
Sam Moody, Chief Executive Officer
Vision
To build a well-funded, full-cycle, exploration-led E&P company
Strategy
Strategic aim
- Building a balanced portfolio in core areas
- Focus on North Falkland Basin and Greater Mediterranean
- Across the full asset life cycle
- Production base to enable growth through exploration
Delivery in 2017
- 50% increase in production to 1.2kboepd
- Divestment of non-core Italian interests onshore Italy
- Maintaining balance sheet strength
- Prudent balance sheet management
- Partial monetisation of assets to fund development
- Disciplined approach to cost management
- Year end cash and term deposits $51 million; no debt
- Reduced recurring G&A by 50% over the three years
- Value accretive exploration
- Leveraging technical skillset
- Focus on proven hydrocarbon basins
- Managed exposure to high-impact opportunities
- Independent resources audit confirmed 517 mmbbl (2C) in Sea Lion Complex with 207 mmbbl of near-field exploration upside
Delivery on strategy
