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Premier Oil Exceeds 2015 Guidance; 56.7 KBOE/d in Production
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Premier Oil has reported its year-end 2015 summary.
Tony Durrant, Chief Executive, commented: “Despite the significant reduction in oil and gas prices, reflected in our results today, 2015 was a year in which we exceeded production guidance, added to reserves, achieved notable exploration success and reached agreement on a value-adding acquisition. We also reduced operating costs by over 25 per cent, significantly cut back on current and future development spend and disposed of negative cash flow assets.
"Our forward plan includes further actions to reduce debt, positioning ourselves for a prolonged period of lower oil prices, whilst continuing to take actions to build longer-term value for a recovering commodity environment.”
Operational highlights Production averaged 57.6 kboepd (2014…- ✓ Full news archive — U.S., Canada & international coverage
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