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Premier Oil PLC (PMO.L)

PMO.L on London Stock Exchange

77.36GBp
7:44pm IST
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78.30
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Latest Key Developments (Source: Significant Developments)

Mubadala Petroleum To Farmout 20% Participating Interest In Andaman I And South Andaman PSCs
Wednesday, 17 Jul 2019 

July 17 (Reuters) - MUBADALA PETROLEUM ::SIGNS AGREEMENT WITH PREMIER OIL TO FARMOUT A 20 PERCENT PARTICIPATING INTEREST IN EACH OF ANDAMAN I AND SOUTH ANDAMAN GROSS SPLIT PRODUCTION SHARING CONTRACTS (PSCS).COMPLETION OF TRANSACTION IS SUBJECT TO CUSTOMARY CONDITIONS INCLUDING GOVERNMENT APPROVALS.  Full Article

Premier Oil in talks with potential new partners in Sea Lion project-CEO
Wednesday, 17 Jul 2019 

July 17 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO SAYS SEES SATELLITE FIELDS TO CATCHER OILFIELD EXTEND PLATEAU OUTPUT FOR 2-3 YRS.PREMIER OIL CEO SAYS TALKING TO POTENTIAL NEW PARTNERS IN SEA LION PROJECT.PREMIER OIL CEO SAYS SEES NO NEED FOR CHANGE IN HEDGING STRATEGY, PHYSICAL MARKET STILL TIGHT.  Full Article

Premier Oil: Zama field resources might be higher than expected
Thursday, 16 May 2019 

May 16 (Reuters) - Premier Oil PLC ::PREMIER OIL CEO SAYS EXPECTS ZAMA 3 WELL RESULTS AT END JUNE.PREMIER OIL CEO SAYS CURRENT DATA POINTS TO ZAMA RESOURCES SLIGHTLY HIGHER THAN PREVIOUSLY EXPECTED.PREMIER OIL CEO SAYS EXPECTS TO SUBMIT FORMAL APPLICATION FOR SEA LION PROJECT SENIOR DEBT IN JUNE.  Full Article

Premier Oil Says No Decision Taken To Bid For Chevron Assets
Monday, 14 Jan 2019 

Jan 14 (Reuters) - Premier Oil PLC ::STATEMENT RE MARKET SPECULATION.WILL CONTINUE TO LOOK AT OPPORTUNITIES TO ACQUIRE UK NORTH SEA ASSETS IN LINE WITH GROUP'S STATED STRATEGY.CURRENT OPERATIONAL PERFORMANCE REMAINS STRONG WITH PRODUCTION IN FIRST TWO WEEKS OF JANUARY AVERAGING ABOVE 90 KBOEPD.NO FIRM DECISION HAS BEEN TAKEN TO BID FOR ALL OR ANY OF ASSETS CURRENTLY BEING MARKETED BY CHEVRON .  Full Article

Premier Oil Says Continues To Forecast FY Production Of Around 80 Kboepd
Friday, 7 Dec 2018 

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 

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 

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 

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 

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 

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

UPDATE 1-Premier Oil raises resource estimate for Zama field

June 27 Britain's Premier Oil Plc on Thursday "significantly" increased its resource estimate for the Zama field offshore Mexico, a month after it raised its total production guidance for 2019.