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LON:PMO

Premier Oil PLC

Market:
LON
Market Cap:
£785.28 m
Price
94.44 GBX
Change
2.79%
52 weeks high
110.20
52 weeks low
54.70

In brief

Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. Post the E.ON acquisition, the company has reserves and resources of more than 800 million mmboe. The Company is engaged in the business of upstream oil and gas exploration and production. Premier’s producing assets are in the UK North Sea, South East Asia (Indonesia and Vietnam) and Pakistan and the company expects to produce 68-73kboepd in 2016 with recent record rates of over 95 kboepd achieved.   Premier expects further production growth once its operated Catcher project comes on-stream in 2017. The company has also successfully secured sustainable cost savings across its business to address the lower commodity price environment while at the same time preserving optionality in its portfolio to grow the business beyond current firm plans.  Premier also has the potential for material value creation in future years through its exploration acreage in Mexico, Brazil and the Southern Gas Basin in the UK North Sea.