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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Premier Oil    PMO   GB00B43G0577

PREMIER OIL (PMO)
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Real-time Quote. Real-time Cboe Europe - 07/23 03:33:17 pm
122.05 GBp   +1.20%
07/19Norway oil workers and employers agree deal, strike ends
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07/12PREMIER OIL : Trading and Operations Update
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Premier Oil : Announces Trading & Operations Update

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07/12/2018 | 04:58pm CEST

Premier Oil has provided an update on recent operational activities and guidance in respect of its half year financials to 30 June 2018.

Highlights • Production averaged 76.1 kboepd during 1H with recent run rates over 90 kboepd; full year guidance of 80-85 kboepd is unchanged • Catcher plateau production rates of 60 kbopd (gross) consistently achieved following commencement of gas export and water injectivity in May • Tolmount project Board approved; formal partner approval expected Q3 • Zama discovery: pre-unitisation agreement notice submitted; appraisal programme to commence Q4 • New, attractive exploration licences offshore Mexico and Indonesia signed; seismic work to start later this year • Sale of ETS (UK) and Kakap (Indonesia) completed; Babbage Area (UK) and Pakistan transactions awaiting government approvals • Forecast 2018 operating costs of $17-$18/boe; forecast development, exploration and abandonment expenditure of $380 million, in line with previous guidance • Net debt reduced to $2.65 billion over period; full year net debt reduction estimated at between $300 million and $400 million at current oil prices with covenant leverage ratio forecast to fall to 2.5x EBITDA by end Q1 2019

Tony Durrant, Chief Executive, commented: 'Catcher delivering stable plateau production is an important milestone for Premier. This, coupled with the ongoing strong performance from our underlying portfolio and our continued focus on cost control, will result in significant free cash flow generation and material debt reduction in the second half.

We can also look forward to the formal sanction of our high value Tolmount project and the appraisal of our world class Zama discovery, both of which have the potential to deliver significant future growth.'

(c) 2018 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 1 574 M
EBIT 2018 481 M
Net income 2018 128 M
Debt 2018 2 279 M
Yield 2018 -
P/E ratio 2018 13,82
P/E ratio 2019 4,47
EV / Sales 2018 2,23x
EV / Sales 2019 1,83x
Capitalization 1 228 M
Chart PREMIER OIL
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Technical analysis trends PREMIER OIL
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 1,88 $
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Anthony Richard Charles Durrant Chief Executive Officer & Executive Director
Roy Alexander Franklin Non-Executive Chairman
Paul Williams Group Development & Operations Manager
Richard Andrew Rose Finance Director & Executive Director
Robin A. Allan Executive Director & Director-North Sea
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