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Premier Oil - Refinancing a done deal

May 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The highlight of results was a 24% increase in production to 71,400 barrels oil per day - a record. This drove a return to profit after tax of US$122.6m (2015: loss: US$1.1bn) for eps of 26 cents (21p).Production growth came mainly from its UK North Sea portfolio, with output doubling from 16,700 to 33,000 boepd, helped by first oil from the Solan field, the acquired E.ON assets and outperformance from the Huntington and Babbage fields. The Catcher field remains on track for first oil in H2 ’17.Elsewhere, Indonesia increased production by 3% to 14,300 boepd while in Vietnam production averaged 16,200 boepd (2015: 16,900 boepd) with high uptime offsetting a natural decline from the fields.An assessment of its bigge ...

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Premier Oil - Refinancing a done deal

May 2017

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