Lundin Petroleum Q2 EBITDA beats; H2 output to be in lower half of range

(Adds delay on Edvard Grieg, termination of FPSO sale, detail on full-year production guidance)

Aug 3 (Reuters) - Lundin Petroleum

* Q2 ebitda $206.1 million (Reuters poll $181 million) vs $106.5 million in Q2 2015

* Q2 production 63.9 mboepd (Reuters poll 63,592 boepd)

* Q2 net result $-48.3 million (Reuters poll $-14.4 million) vs profit of $59.9 million in Q2 2015

* Q2 revenues $265.3 mln (RTRS poll $256 mln) vs $157.8 mln in Q2 2015

* Performance on Edvard Grieg field continues to exceed expectations

* Repeats 2016 production guidance of 65,000-75,000 boepd but says second half production will likely be in the lower half of the production range guided

* Says Johan Sverdrup project is progressing according to plan and continues to firmly believe that we will see further costs savings as we progress with the project and as we finalise the definition of the Phase 2 concept selection

* Repeats the full Sverdrup field development costs (phase 1 and phase 2) have been revised down from between nok 170 and 220 billion (real 2015) to between nok 160 and 190 billion (real 2015)

* Repeats that the latest cost estimate for Sverdrup phase 1 has been reduced to NOK 108.5 billion (nominal), a reduction of approximately 12 percent from initial estimate

* The operator of Sverdrup is Statoil, while other partners include state-owned Petoro, Det norske and Denmark's Maersk Oil

* Says continue to achieve record low cash operating costs at usd 8.85 per barrel during the second quarter 2016

* There were some operational delays to the drilling of the first water injection well on the Edvard Grieg field, which has had an impact on the timing of the follow-on wells to be delivered in 2016

* Notwithstanding the delay in the drilling schedule and ramp-up to full plateau production, it is anticipated that the company will achieve its production guidance for the full year following the strong performance seen in the first half of 2016

* Says Edvard Grieg is expected to reach gross plateau production of 100,000 boepd at the end of the year vs previous forecast of H2 2016

* Lundin Petroleum announced on 22 January that it had entered into an agreement to sell the FPSO Bertam to M3nergy Investment Ltd (M3nergy), a wholly owned subsidiary of M3nergy Berhad of Malaysia. The transaction was subject to M3nergy securing financing within a certain time frame. Given M3nergy has been unable to secure the required financing the agreement to sell the FPSO has been terminated Source text: https://www.lundin-petroleum.com/Press/pr_corp_03-08-16_e.pdf Further company coverage: (Reporting By Stine Jacobsen)