Premier Oil announced Thursday that it had beaten all of its operational and financial targets in the first half of the year. The oil producer posted a 23% increase in profit after tax to $121m for the six-month period and record production for the first half of about 84,000 barrels of oil equivalent per day (kboepd). The company kept production, expenditure and debt targets unchanged for 2019. This is despite announcing that it will sell its stake in an undeveloped project off the coast of Mexico.
Premier Oil Plc (PMO.L) Announced, in its half-year results for the six months to 30 June 2019, that its sale revenue stood at $871.3 million, compared to $625.0 million in the preceding year. Profit after tax was $120.6 million, compared to $98.4 million. The company’s diluted earnings per share was 12.4c, compared to 10.4c
RNS Number: 8493 J Premier Oil PLC 22 August 2019 Premier Oil PLC. Half-Year Results for the six months to 30 June 2019. Tony Durrant, Chief Executive, commented:.
RNS Number: 8493 J Premier Oil PLC 22 August 2019 Premier Oil PLC. Half-Year Results for the six months to 30 June 2019. Tony Durrant, Chief Executive, commented:.
RNS Number: 6151 J Premier Oil PLC 20 August 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3922 J Premier Oil PLC 16 August 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 0104 J Premier Oil PLC 14 August 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7219 H Premier Oil PLC 02 August 2019 Premier Oil plc. The Directors named below have acquired a further interest in Ordinary Shares of 12.5 pence each in the Company as a result of their participation in the Company's all-employee Share Incentive Plan. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the...
RNS Number: 4430 H Premier Oil PLC 01 August 2019. Total Voting Rights and Warrant Update As at 31 July 2019, Premier Oil plc's issued share capital consisted of 829,864,796 Ordinary Shares of 12.5 pence with voting rights. Premier Oil plc does not hold any shares in Treasury.. RNS is approved by the Financial Conduct Authority to act as a Primary Information...
RNS Number: 0161 H Premier Oil PLC 29 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7044 G Premier Oil PLC 25 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Premier Oil Plc (PMO.L) Announced, in its 1H19 trading and operations update, that company’s production averaged 84.1 kboepd for 1H19, ahead of budget and underpinned by very high operating efficiency. The company continues to expect first gas from the Bison, Iguana and Gajah Puteri fields in Indonesia by year-end. The first two of the three development wells, SBS-1 (Bison) and SIG-1 (Iguana), were completed and successfully flow tested. In the U.K. Southern North Sea, drilling of the Tolmount East appraisal well, which has the potential to add significantly to the Tolmount resource, will commence shortly. Operating costs and lease costs to the end of June averaged $10.4/boe and $6.3/boe respectively, reflecting strong production and continued tight cost control across the company. Net debt reduced from $2.33 billion at the end of 2018 to $2.15 billion at the end of June as a result of free cash flow generation of $180 million.
Premier Oil Another excellent operational performance from Premier who continue to surpass themselves in all areas. First half production was 84.1 kboed 11% up on last year and on track for the FY guidance of 75-80 kboed. FCF was $180m which reduced debt to $2.15bn, debt reduction for the year is now guided to be at the top of the range which realistically should now be $300-350m+. Opex has reduced to $12/boe and capex remains at $340m. As before, Catcher has been the star performer with another increase and now operating at 99% operating efficiency so the question is, where to go from here? Well, the ability to max production has moved the number to the right somewhat but as an insurance, the Catcher North and Laverda satellite fields are expected to get formal approval ‘imminently’. In addition, the Varadero infill well (V5) which is scheduled to spud in the second quarter of 2020, will help maintain Catcher Area production at 66 kbopd (gross). All this more than justifies the company’s original decision to go ahead with the project which was no slam dunk at the time. At Zama there is a resource upgrade to 670-810-970 mmboe and elsewhere in Mexico the 3D seismic on Block 30 hopefully will delineate two slightly smaller than Zama prospects. Perhaps the most exciting part of the portfolio at the moment is Tolmount where the East well is about to spud (late) but everything else is on target to deliver first gas late in 2020 and there is even a Tolmount Far East to consider. It may be that Tolmount could be the next Catcher, its scale in reserves and production is meaningful and it could dovetail nicely, who would have thought that when they bought it? At Sea Lion it looks as if we are genuinely getting closer to the latter stages of what has been an incredible journey. The company has compiled an impressively large set of independent reports and ‘these, together with the Preliminary Information Memorandum, will form the basis of a loan application package which Premier plans to submit imminently to export credit agencies for the senior debt component of the project financing structure’. It is worth noting that the farm-in by the company into South Andaman and Andaman 1 recently, to add to their existing acreage at Andaman 2 will now give them a 20% interest and a partnership with Mubadala Petroleum offshore Indonesia. This now looks to be developing into a prominent part of the Premier portfolio who have been trying for some years to find the right add-on to their Asian assets and may be in business by late 2020 or early 2021. There is actually a lot more in the update but these points are the most salient, Catcher is moving to the right and has wells to keep production up, Tolmount ‘might be the next Catcher’, the Andaman area has unique potential and of course Sea Lion should be a substantial part of the business in the next decade. Shareholders should be very happy, the stewardship of Premier is in good hands across the board. Below is the link to the interview I did with Tony Durrant a few weeks ago, it now becomes more apparent how important some of our discussions were as the story unfolds.
·Free cash flow generation of $180 m during the period, reducing net debt to $2.15 bn. ·Tolmount, Premier's next UK growth project, on schedule for first gas end 2020. ·Forecast 2019 opex reduced to $12/ boe; capex guidance unchanged.
RNS Number: 5557 E Premier Oil PLC 04 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2691 E Premier Oil PLC 03 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2476 E Premier Oil PLC 02 July 2019 Premier Oil plc. The Directors named below have acquired a further interest in Ordinary Shares of 12.5 pence each in the Company as a result of their participation in the Company's all-employee Share Incentive Plan. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the...
RNS Number: 8553 D Premier Oil PLC 01 July 2019. Total Voting Rights and Warrant Update As at 30 June 2019, Premier Oil plc's issued share capital consisted of 829,762,437 Ordinary Shares of 12.5 pence with voting rights. Premier Oil plc does not hold any shares in Treasury.. RNS is approved by the Financial Conduct Authority to act as a Primary Information...
RNS Number: 9015 D Premier Oil PLC 01 July 2019 BLOCK LISTING SIX MONTHLY RETURN. Information provided on this form must be typed or printed electronically and provided to an ris.. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9120 D Premier Oil PLC 28 June 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Premier Oil Plc
PMO.L
Premier Oil Plc
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