Premier Oil plc Announces Production Results for the Fourth Quarter and Revenue and Operating Results for the Full Year 2016; Provides Production and Capex Guidance for the Year 2017
Production in fourth quarter of 2016 averaged over 80 kboepd, reflecting a full contribution from the ex-E.ON assets and new production from the Solan field as well as sustained high production efficiency across the portfolio.
For the year 2017, the company expects production guidance of 75 kboepd, before any contribution from Catcher and adjusted for lower Solan profile. 2017 capex guidance of 350 million (including abandonment spend). Net debt will continue to reduce at current forward curve.