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Premier Oil PLC (PMO.L)

PMO.L on London Stock Exchange

94.92GBp
9:08pm IST
Change (% chg)

-3.02 (-3.08%)
Prev Close
97.94
Open
97.00
Day's High
98.30
Day's Low
94.16
Volume
6,881,950
Avg. Vol
8,003,404
52-wk High
146.90
52-wk Low
54.70

Latest Key Developments (Source: Significant Developments)

Premier Oil Completes Sale Of Pakistan Business
Thursday, 28 Mar 2019 

March 28 (Reuters) - Premier Oil PLC ::COMPLETION OF SALE OF PAKISTAN BUSINESS.COMPLETED SALE OF PREMIER OIL PAKISTAN HOLDINGS BV, WHICH COMPRISES PREMIER'S PAKISTAN BUSINESS, TO AL-HAJ ENERGY LTD.  Full Article

Premier Oil CEO says might raise 2019 output guidance
Thursday, 7 Mar 2019 

March 7 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO SAYS UPWARD REVISION OF 2019 OUTPUT GUIDANCE POSSIBLE.PREMIER OIL CEO SAYS DUE TO BREXIT, GROUP HAS BUILT UP A LOT OF INVENTORY OF CHEMICALS, OFFSHORE EQUIPMENT IN SCOTLAND.PREMIER OIL CEO SAYS FORMAL APPLICATION FOR $800-$900 MILLION IN SENIOR DEBT FOR SEA LION PROJECT PLANNED FOR END APRIL, EARLY MAY.  Full Article

Premier Oil CEO does not see oil price much below $60/bbl
Thursday, 10 Jan 2019 

Jan 10 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO SAYS LOOKING AT VARIOUS OPTIONS FOR ACQUISITIONS IN UK.PREMIER OIL CEO SAYS EXPECTS TO MAKE FORMAL LOAN APPLICATIONS FOR SEA LION PROJECT IN MARCH OR APRIL.PREMIER OIL CEO SAYS DOES NOT SEE OIL PRICE GOING MUCH BELOW $60 A BARREL IN 2019.PREMIER OIL CEO SAYS EXPECTS TO GIVE MEXICO ZAMA WELL UPDATE WITHIN 2 WEEKS.PREMIER OIL CEO SAYS REASONABLE TO ASSUME NET DEBT TO FALL TO $2 BILLION BY END 2019.  Full Article

Premier Oil Eyes Bid for Chevron's U.K. North Sea Assets- Bloomberg
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - :PREMIER OIL CONSIDERING BID FOR PACKAGE OF NORTH SEA OIL AND GAS ASSETS PUT ON THE BLOCK BY CHEVRON, THAT'S WORTH ABOUT $2 BILLION - BLOOMBERG.  Full Article

Premier Oil Says 2018 Production Guidance Unchanged
Thursday, 23 Aug 2018 

Aug 23 (Reuters) - Premier Oil PLC ::2018 PRODUCTION GUIDANCE UNCHANGED AT 80-85 KBOEPD.FORECAST OPEX OF US$17-US$18/BOE AND CAPEX OF US$380 MILLION UNCHANGED FOR 2018.TOLMOUNT PLATFORM CONSTRUCTION TO START IN DECEMBER.HY PROFIT AFTER TAX MORE THAN DOUBLED TO US$98.4 MILLION (2017 1H: US$40.7 MILLION).ZAMA APPRAISAL PROGRAMME TO COMMENCE IN Q4.HY OPEX OF US$17.2/BOE, 5 PER CENT BELOW BUDGET.FORECAST FULL YEAR NET DEBT REDUCTION OF US$300 TO US$400 MILLION.2018 PRODUCTION GUIDANCE UNCHANGED AT 80-85 KBOEPD.FORECAST FOR 2018 OPEX OF US$17-US$18/BOE AND CAPEX OF US$380 MILLION UNCHANGED.FORECAST FULL YEAR NET DEBT REDUCTION OF US$300 TO US$400 MILLION.  Full Article

Premier Oil Says Tolmount Development Sanctioned
Monday, 20 Aug 2018 

Aug 20 (Reuters) - Premier Oil PLC ::TOLMOUNT DEVELOPMENT SANCTIONED.PREMIER OIL-TOLMOUNT MAIN PROJECT MOVES TO EXECUTION PHASE WITH CONSTRUCTION WORKS SCHEDULED TO START LATER THIS YEAR; FIRST GAS TARGETED FOR Q4 2020.TOLMOUNT MAIN GAS FIELD IS EXPECTED TO PRODUCE AROUND 500 BCF OF GAS (96 MMBOE) WITH PEAK PRODUCTION OF UP TO 300 MMSCFD (58 KBOEPD).PREMIER'S SHARE OF CAPEX REQUIRED TO DEVELOP LARGE GAS FIELD IS ESTIMATED AT US$120 MILLION FOR TOLMOUNT DEVELOPMENT.  Full Article

Premier Oil CEO: will look at possible acquisitions in UK North Sea
Thursday, 12 Jul 2018 

July 12 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO SAYS ITS OIL PROJECTS IN MEXICO HAVE SO FAR NOT ENCOUNTERED PROBLEMS WITH NEW GOVERNMENT.PREMIER OIL CEO SAYS NEEDS TO SEE OIL PRICE ABOVE $75/BBL FOR LONGER BEFORE CONSIDERING SHAREHOLDERS PAY-OUTS.PREMIER OIL CEO SAYS WILL LOOK AT POSSIBLE ACQUISITIONS IN UK NORTH SEA, FOCUS ON EXISTING PRODUCTION, EXPECTS BANKS TO SUPPORT SUCH PROJECT.  Full Article

Premier Oil Maintains FY Production Forecast
Thursday, 12 Jul 2018 

July 12 (Reuters) - Premier Oil PLC ::PRODUCTION AVERAGED 76.1 KBOEPD DURING 1H.FULL YEAR PRODUCTION GUIDANCE OF 80-85 KBOEPD IS UNCHANGED.CATCHER PLATEAU PRODUCTION RATES OF 60 KBOPD CONSISTENTLY ACHIEVED FOLLOWING COMMENCEMENT OF GAS EXPORT AND WATER INJECTIVITY IN MAY.FULL YEAR FORECAST 2018 OPERATING COSTS OF $17-$18/BOE.NET DEBT REDUCED TO $2.65 BILLION IN HY.FULL YEAR NET DEBT REDUCTION ESTIMATED AT BETWEEN $300 MILLION AND $400 MILLION.IN UK, PREMIER'S OPERATED CATCHER AREA AVERAGED 13.3 KBOEPD FOR FIRST HALF."CATCHER DELIVERING STABLE PLATEAU PRODUCTION IS AN IMPORTANT MILESTONE".SIGNIFICANT FREE CASH FLOW GENERATION AND MATERIAL DEBT REDUCTION EXPECTED IN SECOND HALF.OVER FIRST SIX MONTHS OF YEAR OPERATING COSTS AVERAGED $17.3/BOE, 5 PER CENT BELOW BUDGET.FULL YEAR GUIDANCE FOR OPERATING COST PER BARREL OF OIL EQUIVALENT OF $17-$18 IS MAINTAINED.GUIDANCE FOR 2018 FULL YEAR DEVELOPMENT, EXPLORATION AND ABANDONMENT SPEND REMAINS UNCHANGED AT $380 MILLION.FIRST HALF PRODUCTION WAS ALSO IMPACTED BY PLANNED SHUTDOWNS AT HUNTINGTON AND SOLAN FIELDS AND LOWER SINGAPORE GAS DEMAND.  Full Article

Premier Oil says debt can fall below $2 bln by end 2019
Wednesday, 16 May 2018 

May 16 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO EXPECTS TOLMOUNT FINAL INVESTMENT DECISION (FID) IN Q3 THIS YEAR, FALKLANDS SEA LION FID MIGHT NOT HAPPEN THIS YEAR.PREMIER OIL CEO SAYS DEBT CAN FALL BELOW $2 BILLION BY END 2019.PREMIER OIL CEO SAYS MOMENT TO REINSTATE DIVIDEND IS WITH MORE THAN PLANNED CASH FLOW WINDFALL FROM SPIKING OIL PRICES, “I’M NOT SURE I’M QUITE THERE ON THE SPIKE YET”.PREMIER OIL CEO SAYS ABOUT MEXICO'S BLOCK 30 LOOKING AT 2020 APPRAISAL WELL DRILLING.  Full Article

Premier Oil Says On Track To Meet Full Year Guidance Of 80-85 Kboepd
Wednesday, 16 May 2018 

May 16 (Reuters) - Premier Oil PLC ::ON TRACK TO MEET FULL YEAR GUIDANCE OF 80-85 KBOEPD.CATCHER PRODUCTION HAS REACHED LEVELS IN EXCESS OF 60 KBOPD (GROSS) IN LAST FEW DAYS.PRODUCTION AVERAGED 74.0 KBOEPD DURING Q1.SIGNIFICANT DEBT REDUCTION ANTICIPATED FOR 2018 2H.ON TRACK TO DELIVER PLAN OF MATERIAL DEBT REDUCTION IN 2018 AND 2019 WITH SELECTIVE INVESTMENT IN FUTURE GROWTH PROJECTS FROM 2020.TOLMOUNT PROJECT SANCTION SCHEDULED FOR 2018 2H.FIRST ZAMA APPRAISAL WELL ON BLOCK 7 TO SPUD IN Q4.Q1 FREE CASH FLOW NEUTRAL, AS PER PREVIOUS GUIDANCE."IMPROVED COMMODITY PRICE ENVIRONMENT PUTS US IN A STRONG POSITION TO GENERATE SIGNIFICANT FREE CASH FLOW IN SECOND HALF OF YEAR" -CEO.NET DEBT REDUCED FROM $2.72 BILLION AT END OF 2017 TO $2.65 BILLION AT END OF Q1.FORECASTING SIGNIFICANT DEBT REDUCTION IN SECOND HALF OF 2018.ANTICIPATES COVENANT LEVERAGE RATIO FALLING TO 3X EBITDA BY YEAR END, AND REDUCING FURTHER IN 2019.  Full Article

UPDATE 1-Premier Oil raises output guidance for 2019

LONDON, May 16 Britain's Premier Oil increased its 2019 production guidance on Thursday, saying output had been boosted by efficiency measures and a late sale from its now-divested Pakistan oil fields.