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Last $1.58 USD
Change Today +0.1343 / 9.29%
Volume 1.2K
As of 8:10 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

premier oil plc (PMOIF) Snapshot

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09/4/14 - $5.65
52 Week Low
08/24/15 - $1.43
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premier oil plc (PMOIF) Details

Premier Oil plc, together with its subsidiaries, engages in the upstream oil and gas exploration and production activities. The company has various oil and gas interests in the Falkland Islands, Indonesia, Norway, Pakistan, the United Kingdom, Vietnam, and the internationally. As of December 31, 2014, the company had reserves and contingent resource base of 794 million barrels of oil equivalent. The company was formerly known as Premier Oil Group plc and changed its name to Premier Oil plc in July 2003. Premier Oil plc was incorporated in 2002 and is based in London, United Kingdom.

927 Employees
Last Reported Date: 04/7/15
Founded in 2002

premier oil plc (PMOIF) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: 672.9K GBP
Finance Director and Executive Director
Total Annual Compensation: 128.3K GBP
Director of Falkland Islands & Asia, Executiv...
Total Annual Compensation: 488.2K GBP
Director of North Sea & Exploration, Executiv...
Total Annual Compensation: 477.6K GBP
Compensation as of Fiscal Year 2014.

premier oil plc (PMOIF) Key Developments

Premier Oil Announces Sales Results for the First Half of 2015

Premier Oil announced sales results for the first half of 2015. For the first half, the company reported total revenues topped out at £377 million, down from last year's £576 million as production dipped. But it said that it was on track to cut operating costs in the first half of the year to around £100 million, reflecting average production cost of $14 per barrel.

Premier Oil Announces Resignation of Andrew Lodge as Executive Director

Premier Oil announced that Andrew Lodge stood down as an Executive Director and left the company with effect from June 30, 2015.

Premier Oil plc Reports Financial and Production Results for the First Half Ended June 30, 2015; Reiterates Capex and Production Guidance for the Full Year of Full Year of 2015; Provides Exploration Update

Premier Oil plc reported financial and production results for the first half ended June 30, 2015. For the six months, total revenue was $580 million against $885 million for the same period a year ago, reflecting the lower oil price environment and lower production year-on-year as a result of the Scott area disposal. As at 30 June, net debt was flat on the year-end position at $2.1 billion, despite the continuing period of development investment and the exploration campaign in the Falkland Islands. This is primarily due to a combination of Premier's strong production performance, lower operating costs, proceeds received from disposals and the benefit of the company's hedging programme. Premier delivered a robust production performance in the first six months of the year, with production averaging 60.3 kboepd.  For the year 2015, the company expects capex to be around $900 million, previously guided as $750 million of development capex and $150 million loan to Chrysaor.  Planned exploration expenditure for 2015 has increased by $20 million to around $240 million primarily due to additional expenditure on the Isobel Deep well in the Falklands. The company reiterated production guidance for the full year of 2015. For the year, the company expects production to be at 55 kboepd (excluding new production from Solan), taking into account planned maintenance work in the second half and natural decline in a number of the company's fields. The company had successful start to its Falkland Islands exploration campaign with discoveries at both Zebedee and Isobel Deep.  The Isobel Deep well encountered oil bearing sandstone at the prognosed depth but was suspended due to unexpected overpressure. Pre-drill, the un-risked Pmean resources of the Elaine/Isobel complex were 400 mmbbls of oil and while this has not changed as a result of the well, the risk has reduced.  The Eirik Raude rig is expected to return to the North Falklands basin in August to drill the Jayne East and Chatham wells. Consideration is being given to performing more drilling at Isobel Deep as part of the programme, possibly replacing the Jayne East well. In Indonesia, the Anoa Deep appraisal well spudded in April and reached total depth in June.  Following encouraging logging results, preparations are now being made to test the well with results expected later this month.  Meanwhile, the Myrhauk well on the eastern flank of the Mandal High offshore Norway is expected to spud in mid-July with results anticipated in September. During the period, Premier continued to re-shape its exploration portfolio with 21 further licence relinquishments and disposals in mature areas. At the same time, Premier is continuing to pursue its strategy of adding acreage in emerging plays.  Accordingly, Premier has farmed into Block 661 in the Ceara basin in Brazil, subject to government approval, and joined a consortium to evaluate Mexico's Round 1 opportunities, with bidding scheduled for 15 July.


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