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Premier Oil PLC (PMO.L)

PMO.L on London Stock Exchange

89.85GBp
20 Apr 2018
Change (% chg)

1.00 (+1.13%)
Prev Close
88.85
Open
88.95
Day's High
90.35
Day's Low
87.75
Volume
15,286,782
Avg. Vol
9,921,573
52-wk High
104.56
52-wk Low
42.75

Latest Key Developments (Source: Significant Developments)

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

Premier Oil says disposal of entire interest in Wytch farm field
Tuesday, 22 Aug 2017 11:20am EDT 

Aug 22 (Reuters) - Premier Oil Plc ::REACHED AGREEMENT WITH A THIRD PARTY FOR DISPOSAL OF ITS ENTIRE 33.8% INTEREST IN WYTCH FARM FIELD.PROPOSED CONSIDERATION IS $200 MILLION AND PREMIER WILL ALSO EXPECT TO RELEASE LETTERS OF CREDIT, AMOUNTING TO ABOUT $75 MILLION.  Full Article

Premier Oil says Roy Franklin will join as non-executive chairman
Thursday, 10 Aug 2017 02:00am EDT 

Aug 10 (Reuters) - PREMIER OIL PLC :APPOINTMENT OF CHAIRMAN & NON-EXECUTIVE DIRECTORS.‍ROY FRANKLIN WILL JOIN COMPANY'S BOARD AS NON-EXECUTIVE CHAIRMAN WITH EFFECT FROM 1 ST SEPTEMBER 2017​.‍DAVE BLACKWOOD AND MIKE WHEELER WILL ALSO JOIN BOARD WITH IMMEDIATE EFFECT AS NEW NON-EXECUTIVE DIRECTORS​.  Full Article

Premier Oil provides drilling update at Zama-1 exploration well offshore Mexico
Monday, 31 Jul 2017 02:00am EDT 

July 31 (Reuters) - Premier Oil Plc :ZAMA-1 EXPLORATION WELL OFFSHORE MEXICO HAS NOW COMPLETED DRILLING OPERATIONS IN FINAL HOLE SECTION, REACHING TOTAL DEPTH OF 4,108 METRES.PREMIER'S ESTIMATE OF INITIAL GROSS OIL IN-PLACE VOLUMES FOR RESERVOIR IS, AS PREVIOUSLY ANNOUNCED, IN EXCESS OF 1 BILLION BARRELS OF OIL.OPERATED ANOA DEVELOPMENT WELL (WL-5X) HAS BEEN COMPLETED AND WELL WILL BE BROUGHT ON PRODUCTION IN EARLY AUGUST.  Full Article

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