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United States

Premier Oil PLC (PMO.L)

PMO.L on London Stock Exchange

75.85GBp
7 Dec 2018
Change (% chg)

9.75 (+14.75%)
Prev Close
66.10
Open
67.65
Day's High
76.15
Day's Low
66.89
Volume
21,736,932
Avg. Vol
10,327,946
52-wk High
146.90
52-wk Low
64.70

Latest Key Developments (Source: Significant Developments)

Premier Oil Says Continues To Forecast FY Production Of Around 80 Kboepd
Friday, 7 Dec 2018 02:00am EST 

Dec 7 (Reuters) - Premier Oil PLC ::COMPLETION OF BABBAGE SALE & OPERATIONS UPDATE.GROUP PRODUCTION YEAR TO DATE HAS AVERAGED 79.4 KBOEPD.HAS RECEIVED £30.3 MILLION ($38.7 MILLION), AFTER ADJUSTMENTS FOR BABBAGE CASH FLOWS COLLECTED.PRODUCTION IN NOV AND DEC TO DATE WAS ABOVE FORECAST AT 92 KBOEPD WITH DAILY PRODUCTION RATE OF 98.7 KBOEPD.VERUS WILL TAKE ON EXPLORATION COMMITMENTS VALUED AT C.$24 MILLION.CONTINUES TO FORECAST FULL YEAR PRODUCTION OF AROUND 80 KBOEPD.  Full Article

Premier Oil eyes 2019 net debt reduction of $300-400 mln
Thursday, 15 Nov 2018 03:40am EST 

Nov 15 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO SAYS FEELS COMFORTABLE ASSUMING $70/BBL OIL PRICE NEXT YEAR, TESTING LONG-TERM INVESTMENTS AT $60/BBL.PREMIER OIL CEO SAYS EYES REDUCING NET DEBT IN 2019 BY FURTHER $300-400 MILLION.PREMIER OIL CEO SAYS DOES NOT THINK FALKLANDS SEA LION PROJECT FINANCING TO MATERIALISE THIS YEAR.  Full Article

Premier Oil Sees FY Production Of Around 80 KBPOED
Thursday, 15 Nov 2018 02:01am EST 

Nov 15 (Reuters) - Premier Oil PLC ::TRADING AND OPERATIONS UPDATE.YEAR-TO-DATE PRODUCTION OF 78.4 KBOEPD, UP FROM 76.2 KBOEPD IN FIRST HALF.FORECAST FULL-YEAR PRODUCTION AT AROUND 80 KBOEPD.FORECAST 2018 OPERATING COSTS UNCHANGED AT $17-$18/BOE.FORECAST FY DEVELOPMENT, EXPLORATION AND ABANDONMENT EXPENDITURE NOW $365 MILLION, REDUCED FROM PREVIOUS GUIDANCE OF $380 MILLION.NET DEBT REDUCED TO $2.52 BILLION AT 31 OCTOBER; YEAR-END NET DEBT FORECAST AT AROUND $2.4 BILLION.CONTINUES TO EXPECT PREVIOUSLY ANNOUNCED SALE OF ITS INTERESTS IN BABBAGE AREA TO COMPLETE BEFORE YEAR-END.INCREASED ITS HEDGING POSITION IN 2019 TO PROTECT FUTURE FREE CASH FLOWS AND COVENANT COMPLIANCE.FULL-YEAR GUIDANCE FOR OPERATING COST PER BARREL OF OIL EQUIVALENT OF $17-$18 IS MAINTAINED.  Full Article

Premier Oil Says FY Production rose to 75,000 boepd
Thursday, 8 Mar 2018 02:01am EST 

March 8 (Reuters) - Premier Oil Plc ::‍FY PRODUCTION OF 75 KBOEPD (2016: 71.4 KBOEPD)​.‍CATCHER ON SCHEDULE AND UNDER BUDGET​.2018 ‍PRODUCTION GUIDANCE OF 80-85 KBOEPD​.2018 ‍OPEX AND CAPEX GUIDANCE OF US$17-18/BOE AND US$300 MILLION​.‍CATCHER EXPECTED TO REACH 60 KBOPD (GROSS) IN APRIL AHEAD OF PLAN​.‍SIGNIFICANT COVENANT HEADROOM FORECAST BY YEAR-END​.‍RISING FREE CASH FLOW, DRIVING DEBT REDUCTION THROUGH 2018 AND 2019​.FY ‍LOSS BEFORE TAX FROM CONTINUING OPERATIONS 366.3 MILLION POUNDS VERSUS 413.9 MILLION POUNDS​.‍NET DEBT AT YEAR END REDUCED TO US$2.7 BILLION​.‍FY TOTAL REVENUE FROM ALL OPERATIONS (INCLUDING PAKISTAN) INCREASED TO US$1,102 MILLION VERSUS US$983.4 MILLION IN 2016​.  Full Article

Premier Oil Says ‍Full Year Production Up 5 Pct To 75 Kboepd
Thursday, 11 Jan 2018 02:00am EST 

Jan 11 (Reuters) - Premier Oil Plc ::FULL YEAR PRODUCTION OF 75 KBOEPD IN LINE WITH GUIDANCE, UP 5% ON 2016​.‍FIRST OIL ACHIEVED FROM CATCHER ON 23 DECEMBER ON SCHEDULE AND UNDER BUDGET​.‍2017 OPEX PER BARREL OF US$16.5/BBL​.‍2017 ESTIMATED TOTAL CAPEX OF US$305 MILLION, BELOW REVISED GUIDANCE OF US$325 MILLION​.‍POSITIVE FREE CASHFLOW, NET DEBT DOWN TO US$2.7 BILLION AS AT 31 DECEMBER 2017​.‍2018 PRODUCTION GUIDANCE OF 80-85 KBOEPD, ALLOWING FOR RAMP UP FROM CATCHER AND ADJUSTED FOR 2017 DISPOSALS​.‍CATCHER PRODUCTION PLANNED TO RAMP UP IN 1H REACHING PEAK GROSS PRODUCTION OF 60 KBOPD.‍2018 OPEX PER BARREL EXPECTED TO BE US$17-18/BBL​.‍2018 DEVELOPMENT AND EXPLORATION CAPEX GUIDANCE OF CUS$300 MILLION​.‍DEBT REDUCTION WILL ACCELERATE AT CURRENT OIL PRICES AS CATCHER PRODUCTION RAMPS UP​.  Full Article

Premier Oil Says To Sell Entire Equity Interest In Esmond Transportation System Pipeline
Monday, 11 Dec 2017 02:00am EST 

Dec 11 (Reuters) - Premier Oil Plc ::HAS ENTERED INTO A SALE AND PURCHASE AGREEMENT TO SELL ITS ENTIRE EQUITY INTEREST IN ESMOND TRANSPORTATION SYSTEM ("ETS") PIPELINE TO CATS MANAGEMENT LIMITED​.‍PREMIER WILL RECEIVE CASH CONSIDERATION OF UP TO £23.6 MILLION ($31.6 MILLION) FOR ITS ENTIRE 30 PER CENT INTEREST IN ETS​.‍EFFECTIVE DATE OF SALE IS 1 JANUARY 2017​.‍PREMIER EXPECTS SALE TO COMPLETE IN 1H 2018​.  Full Article

Premier oil says ‍production averaged 76.6 kboepd year-to-date
Thursday, 16 Nov 2017 02:00am EST 

Nov 16 (Reuters) - Premier Oil Plc :PRODUCTION AVERAGED 76.6 KBOEPD YEAR-TO-DATE WITH PLANNED 3Q MAINTENANCE COMPLETED​.‍ON TRACK TO MEET PREVIOUSLY INCREASED FULL YEAR GUIDANCE OF 75- 80 KBOEPD​.‍CATCHER ON SCHEDULE FOR FIRST OIL DURING DECEMBER​.‍DISPOSAL PROGRAMME ONGOING INCLUDING SALE OF WYTCH FARM FIELD FOR $200 MILLION​.‍FORECAST 2017 OPERATING COSTS OF C$16/BBL AND GROSS G&A OF $150 MILLION, BELOW BUDGET AND IN LINE WITH PREVIOUS GUIDANCE​.‍FORECAST 2017 DEVELOPMENT, EXPLORATION AND ABANDONMENT EXPENDITURE EXPECTED TO BE $300-310 MILLION, DOWN FROM PREVIOUS GUIDANCE OF $325 MILLION​.‍FORECAST 2017 DEVELOPMENT, EXPLORATION AND ABANDONMENT EXPENDITURE EXPECTED TO BE $300-310 MILLION, DOWN FROM PREVIOUS GUIDANCE OF $325 MILLION​.‍NET DEBT OF $2.8 BILLION AT 30 SEPTEMBER; DEBT REDUCTION FORECAST AT YEAR END, INCLUDING EFFECTS OF ONGOING PLANNED DISPOSALS​.  Full Article

Premier Oil announces listing application of 1.7 mln ordinary shares ​
Thursday, 26 Oct 2017 04:14am EDT 

Oct 26 (Reuters) - Premier Oil Plc :‍APPLICATION HAS BEEN MADE TO FCA AND LSE FOR ADMISSION OF 1.7 MILLION ORDINARY SHARES OF 12.5 PENCE EACH ​.‍EXPECTED THAT ADMISSION WILL TAKE PLACE ON 27 OCTOBER 2017​.APPLICATION IN CONNECTION WITH QUARTERLY INTEREST PAYMENT, DUE ON 27 OCTOBER 2017, TO HOLDERS OF COMPANY'S $245 MILLION CONVERTIBLE BONDS​.  Full Article

Premier Oil to sell Wytch Farm stakes to Verus Petroleum for $200 mln
Tuesday, 12 Sep 2017 02:14am EDT 

Sept 12 (Reuters) - Premier Oil Plc :‍ENTERED DEAL TO SELL STAKE IN LICENCES PL089 AND P534, WHICH CONTAIN WYTCH FARM FIELD, TO VERUS PETROLEUM SNS FOR $200 MILLION​.TO BE ABLE TO RELEASE LETTERS OF CREDIT OF ABOUT $75 MILLION(ISSUED IN RELATION TO FUTURE DECOMMISSIONING LIABILITIES NOW BEING TRANSFERRED TO VERUS).‍SUBJECT TO FULFILLING CONDITIONS, DEAL EXPECTED TO COMPLETE BY END OF DECEMBER​.‍DISPOSAL PROCEEDS WILL BE USED TO PAY DOWN PREMIER'S EXISTING DEBT​.‍VERUS WILL ASSUME ALL OF ABANDONMENT LIABILITIES AND ASSOCIATED DECOMMISSIONING SECURITY​.  Full Article

Premier Oil Says 2017 production guidance increased to 75-80 kboepd, from 75 kboepd
Thursday, 24 Aug 2017 02:00am EDT 

Aug 24 (Reuters) - Premier Oil Plc :H1 production averaged 82.1 kboepd versus 61.0 kboepd a year ago.2017 production guidance increased to 75-80 kboepd, from 75 kboepd.H1 profit after tax of $40.7 million versus $167.1 million a year ago.2017 opex guidance of Full Article

Mexican oil regulator approves $380 million investment for 2019 projects

MEXICO CITY Mexico's oil regulator approved drilling plans on Thursday for five offshore projects with investment commitments totaling about $380 million, more than half of which was pledged for a shallow water block operated by Talos Energy.