|Bid||79.15 x 2221100|
|Ask||79.35 x 472400|
|Day's Range||77.80 - 79.50|
|52 Week Range||54.70 - 146.90|
|Beta (3Y Monthly)||2.65|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 7, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.84|
Britain's Premier Oil (PMO.L) cut debt to $2.3 billion at the end of 2018, below a previous forecast of $2.4 billion, it said in a trading update on Thursday. Premier's full-year production of 80,500 barrels of oil equivalent per day (boepd) came in slightly above its guidance and was up 7 percent from its 2017 output. Oil prices (LCOc1) are currently around $60 a barrel.
European shares clawed back losses on Friday, buoyed by a bounce on Wall Street as a turbulent week drew to a close and investors licked their wounds after the region's benchmark STOXX 600 sank to its lowest level since U.S. President Donald Trump's election. The STOXX 600 (.STOXX) ended the day up 1.9 percent, its biggest daily performance since last April.
Premier Oil (PMO.L) said on Thursday it expected full-year production to come in at the low end of a previously announced 80,000 to 85,000 barrels per day range. Premier's debt reduction this year was broadly in line with its target of $300-400 million and Chief Executive Tony Durrant told Reuters he saw net debt reduction next year in that range as well. When asked when Premier might reinstate dividends, Durrant said net debt below $2 billion would feel "comfortable" but that payouts would have to be weighed against investment in growth in Mexico, the Falkland Islands and Indonesia.
Tony Durrant became the CEO of Premier Oil plc (LON:PMO) in 2014. This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar Read More...
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Premier Oil is set to raise stable peak production at its Catcher field in Britain's North Sea by as much as 17 percent to 70,000 barrels of oil equivalent per day this year, after output reached that level this summer, it said on Thursday. The news came as Premier (PMO.L) reported first-half profit after tax more than doubled to $98.4 million, helped by higher oil prices. First output at the Catcher field marked a milestone for the company last December, leading it to forecast a 10 percent output hike for 2018, with the field's sustainable peak production - or plateau production - pencilled in at 60,000 barrels of oil equivalent per day (boe/d).
Oil & Gas UK responds to Premier Oil's announcement that the development of its Tolmount Main gas field has been sanctioned by joint venture and infrastructure partners.
In this analysis, my focus will be on developing a perspective on Premier Oil plc’s (LON:PMO) latest ownership structure, a less discussed, but important factor. Ownership structure of a companyRead More...
Premier Oil (PMO.L) will press ahead with the development of the Tolmount gas field in Britain's North Sea, which is expected to produce around 500 billion cubic feet (bcf) of gas from late 2020. The approval of Tolmount is the latest in a series of moves by oil and gas companies showing their commitment to the North Sea, traditionally a high-cost environment which is experiencing a revival as costs have fallen. Premier expects to pay $120 million for the development, which includes a minimal facilities platform and a pipeline commissioned from Saipem (SPMI.MI) leading to British energy group Centrica's (CNA.L) Easington terminal.
Premier Oil says the development of its Tolmount Main gas field, located in the southern North Sea, has been sanctioned by joint venture and infrastructure partners.
Norwegian drilling rigs workers will end their industrial action after the union representing 1,600 striking employees reached a deal with the group acting for their employers, the parties said on Thursday. The strike began on July 10 after the Safe union and the Norwegian Shipowners' Association could not come to an agreement over wages and pension conditions. "The strike is over ... All workers will go back to work today," the lead negotiator for the Safe union told Reuters.
When ETAP was launched 20 years ago today, some experts predicted the UK sector of the North Sea would cease most production by 2030. From original plans to stop production at ETAP, BP decided to invest $1 billion in 2015. "One has to take stock of the potential going forward and make an intervention that allows for the right investment to extend life," Ariel Flores, BP's North Sea Chief, told Reuters.
Per the contract, Dril-Quip (DRQ) will provide 23 subsea production systems to Premier Oil Exploration and Production Limited.