logo
Plus   Neg
Share
Email

Premier Oil Year To Date Production Up 14%

Premier Oil plc (PMO.L,PMOIY.PK) reported that production for the Year to date period was 85.1 kboepd, up 14 per cent on prior year corresponding period. It has increased its 2019 full year production guidance from 75 kboepd to 75-80 kboepd, including an annualised 1.3 kboepd contribution from Pakistan.

UK production averaged 57.4 kboepd, up 47 per cent on the corresponding period in 2018. This was driven by an increased contribution from the Premier-operated Catcher Area partially offset by the sale of the Babbage Area in December 2018.

The company noted that production and free cash flow are ahead of forecast for 2019 and, consequently, it is reducing its debt faster than anticipated.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. is taking necessary precautions including Covid-19 testing for those employees returning to work at its headquarters in Silicon Valley, Bloomberg reported citing people familiar with the process. The company, which opened its main Apple Park office in May bringing back some hardware and software engineers, plans the gradual reopening of the building keeping the coronavirus safeguards. A U.S. appeals court has blocked the sales of Bayer AG's dicamba-based Xtendimax in the United States. The three-judge panel in the U.S. Court of Appeals for the Ninth Circuit ruled that the US Environmental Protection Agency (EPA) overstated the protections and substantially understated or ignored the risks related to the use of dicamba-based herbicides. Tesla Chief Executive Officer Elon Musk has called for a breakup of Amazon after the online retail giant refused to publish an upcoming book about COVID-19. Writer Alex Berenson said on Twitter that Amazon refused to publish his booklet about the coronavirus as it did not comply with the company's guidelines. Berenson is a former New York Times reporter.
RELATED NEWS
Follow RTT