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Premier Oil on track to meet output guidance ahead of Chrysaor merger vote
StockMarketWire.com
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Oil company Premier Oil said it was on track to meet its annual production guidance, while forecasting a broadly flat to slightly higher output performance in 2021.
The company also said shareholders would vote on its planned acquisition by Chrysaor on 12 January, ahead of the combined group being renamed as Harbour Energy if the deal is approved.
Production had averaged 61,200 barrels of oil equivalent per day for the 11 months through November, putting the company track to meet annual guidance of 61,000‐to-64,000 kboepd.
Premier Oil said it expected production in 2021 in the range of 61,000-to-66,000, reflecting new production from the Tolmount gas field offset by natural decline and maintenance shutdowns deferred from 2020.
Production at the Catcher area had been restored to rates in excess of 60 kbopd following a seven-day unplanned outage in mid-November.
Net debt at the end of November was $2.06 billion.
Story provided by StockMarketWire.com
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