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Premier Oil H1 Production Up 11%

Premier Oil plc (PMO.L,PMOIY.PK) reported that group production averaged 84.1 k boepd for the first six months of 2019, up 11 per cent on the 2018 corresponding period. The company's UK assets contributed 57.7 kboepd during the period, a 40 per cent increase on the first half of 2018.

Premier said it is on track to meet its previously upgraded full year production guidance of 75 kboepd-80 kboepd.

At current oil prices, Premier forecasts 2019 full year net debt reduction in the upper half of $250 million to $350 million guidance.

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