Premier Oil Cuts Operating Costs Forecast

Wednesday, July 17, 2019

Britain's Premier Oil on Wednesday reduced its forecast for its 2019 operating costs to $12 per barrel of oil equivalent (boe) from $13 and expects debt reduction to reach the upper end of its $250-$350 million target by year-end.

Premier, which had debt of around $2.3 billion in December, expects to give the final go-ahead for two satellite fields to its North Sea flagship oilfield Catcher next month to extend the period the project produces at 66,000 boe per day.

It expects to submit applications for senior debt facilities for its Sea Lion project off the Falklands imminently. It had previously envisaged doing this by June.


(Reporting by Shadia Nasralla, editing by Louise Heavens)

Categories: Finance Europe Production

Related Stories

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

China Starts Production at Major Oil Field in Bohai Sea

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

BW Opal FPSO Vessel set for Work off Australia

CNOOC Puts Into Production New Oil Field in South China Sea

Petrovietnam, Petronas Extend PSC for Offshore Block

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com