The UK's Premier Oil on Thursday posted a 43% rise in first-half profit, as lower output was offset by higher oil prices and lower taxes. Production fell to 36,900 boe/d from 46,600 boe/d a year earlier because of unplanned maintenance in the UK. "These issues have now been resolved and improved UK production uptime is anticipated for the second half of the year," Chairman Mike Welton said. Premier reiterated its full-year production target of 40,000 boe-45,000 boe/d, and said it expects output of 60,000 boe/d by the end of the year. It plans up to 20 exploration and appraisal wells in the next 12 months, targeting 300 million boe.
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