Premier Oil prepares to sell Mexican field stake as profits jump August 22, 2019 Premier Oil today revealed it would sell a stake in a Mexican offshore field as it chips away at its massive debt. The company said it was looking to sell part of the Zama field, off the coast of Mexico, alongside its results for the six months ending 30 June. Read more: Premier Oil approves [...]
Premier Oil trims net debt as oil production gathers pace July 17, 2019 Premier Oil cut 2019 operating costs and trimmed its debt pile in the first half of 2019, it told shareholders today. The London-listed firm cut net debt from $2.33bn at the end of 2018 to $2.15bn (£1.73bn) in the first half of 2019, slashing it by $180m to stay on track to cut full-year debt [...]
Brent crude oil prices plummet nearly five per cent after US inventories surge May 23, 2019 Brent crude prices dropped below $68 per barrel for the first time in almost two months today, putting pressure on FTSE-listed explorers, after US inventories surged to their highest point in nearly two years. The international standard lost more than $3 over the day, a 4.75 per cent drop, trading at $67.77 in the mid afternoon. [...]
Premier Oil raises guidance on rising oil price and strong production May 16, 2019 Premier Oil rallied today as it upgraded its production guidance and paid down debt, causing one analyst to call its shares “massively mispriced.” Production so far this year has reached just over 85,000 barrels of oil equivalent per day, a 14 per cent rise year-on-year, and considerably higher than 2019 guidance at 75,000. Read more: [...]
North Sea explorers get boost as US clamps down on Iran oil exports April 23, 2019 Toughened sanctions against Iran helped push up oil prices over the weekend, lighting a fire under London-listed exploration companies today. The cost of international standard Brent crude has risen 2.9 per cent over since Friday, hitting $74.68 per barrel – its highest point since October. Read more: FTSE 100 climbs to fresh six-month high as [...]
Best 25 stocks in the last tax year April 15, 2019 | City Talk By Graeme Evans from interactive investor. The FTSE 100 outperformed mid-caps last tax year, but the top FTSE 350 performers might surprise you. Take a look at the financial year ended on the 5th April, with the 25 top performing stocks in the FTSE 350 all producing gains of 40 per cent or more over the [...]
Premier Oil management given pay boost as shares bounce back April 7, 2019 The top management team of London-listed explorer Premier Oil combed in a nice windfall last year, pocketing an extra £500,000 between them. Chief executive Tony Durrant made £1.58m in 2018, newly released figures show, a boost of £103,000. Read more: Back in black: Premier Oil returns to profit However, Asia director Robin Allan and finance [...]
Back in black: Premier Oil shares rise as it returns to profit March 7, 2019 Shares in London-listed Premier Oil were up five per cent this morning as the company’s full year results showed it has returned to profit. The company’s production increased year-on-year against a backdrop of oil price volatility. The figures Premier Oil’s profit after tax rose to $133.4m (£101.4m) in 2018, compared to a significant loss of $253.8m in 2017. [...]
Premier slips on oil spill as financing reports hit share price January 14, 2019 Premier Oil tried to calm stormy markets today as its shares dropped as much as 12.5 per cent after reports it was considering issuing more shares to buy oil fields in the North Sea. The company said it was looking at potential sites in the UK, but stressed it had not yet decided to bid [...]
Premier cuts costs as it joins the oil leak August 20, 2015 Premier Oil yesterday announced losses of $214.7m (£137m) as the effects of over-supply in the market made their way on to another oil company’s balance sheets. The firm’s losses came despite revenues coming in ahead of expectations at $577. Premier said it had implemented a series of cost-cutting measures to see it through a period [...]