Premier Oil

Market info

Premier Oil’s shares suspended for third day

15/01/2016

Premier Oil shares remained suspended yesterday amid uncertainty over the status of the firm’s latest North Sea investment. The stock was worth 19p per share before Wednesday’s request from London-based Premier to halt trading, due to its £83million-plus acquisition of assets from Germany’s E.ON.

Oil & Gas

Premier says Solan project on track, further cost savings in 2016

12/11/2015

Premier Oil said its Solan project is on track to produce its first oil by the end of the year off the west coast of Shetland. The company said it was also ready for first oil from the Catcher project in 2017 as it posted its results for the first 10 months of the year. The progress of the Solan field will be “subject to weather” in the UK North Sea.

Other News

Oil bosses warn of up to 10,000 more job losses in North Sea

19/10/2015

Two of the North Sea’s biggest oil explorers have warned there could be a further 10,000 jobs losses in the oil and gas industry. Both Amjad Bseisu, chief executive of EnQuest, and Premier Oil’s chief executive Tony Durrant said the industry was making the expectation as the decline in oil price continues. Industry body Oil & Gas UK has reported up to 5,500 jobs have been affected in the last year.

Oil & Gas

Premier Oil cuts operating costs by 30%, closes in on Solan and Catcher first oil

09/07/2015

Premier Oil has cut its operating costs by 30% as a challenging marketplace sees its turnover slide. The firm reported total revenues for the first half of the year topped out at $580million – down from last year’s $885million. The dip triggered Premier to cut its operating costs by 30% - down to $150million. The company credited the sale of the “high cost Scott area in the UK” for the part of the savings.

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