- Premier Oil reported production of 75 kboepd (2016: 71.4 kboepd) in the year to 31 December.


- Catcher first oil achieved in December, on schedule and under budget

- Tolmount funding secured

- World class discovery offshore Mexico, estimated 600mmbbls (gross)

- $300m of non-core asset disposals

- Reserves and resources of 902mmboe (2016: 835mmboe)


- Comprehensive refinancing completed; cash and undrawn facilities at year-end of $541.2m

- Cash flows from operations of $496m up 15% (2016: $431.4m)

- Opex of $16.4/boe, maintaining low cost base

- Development and exploration capex of $275.6m, down 58%

- Positive free cash flow of $71.2m, net debt reduced to $2.7bn

- EBITDAX increased to $589.7m (2016: $494.1m)

- $253.8 million post-tax loss after previously disclosed impairments and refinancing costs


- Production guidance of 80-85 kboepd

- Opex and capex guidance of $17-18/boe and $300m, respectively

- Catcher expected to reach 60 kbopd (gross) in April ahead of plan

- Tolmount project sanction anticipated

- Material progress on Sea Lion towards final investment decision

- Zama: rig contracting in progress for 2H appraisal

- Significant covenant headroom forecast by year-end

- Rising free cash flow, driving debt reduction through 2018 and 2019

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