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Premier Oil Reports Q1 Production
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Premier has provided the following trading update for the period 1 January to 30 April 2016.
Highlights Strong production to 30 April of 57.3 kboepd; on track to deliver at or above upper end of 2016 guidance of 65-70 kboepd for the full year Completed acquisition of E.ON’s UK North Sea assets on 28 April Oil production from the Solan field commenced on 12 April; rates of over 14 kbopd achieved from the first producer well; second well due on-stream by mid-year The Catcher project remains on schedule and below budget; pre-first oil capex forecast is 15 per cent lower due to significant cost savings Operating costs and gross G&A tracking 10-20 per cent below 2016 budget, year-to-date Significant liquidity with cash and undrawn bank facilities of c. $750 million; discussions ongoing with…- ✓ Full news archive — U.S., Canada & international coverage
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