Premier Oil increased its full-year production guidance to between 75,000 and 80,000 boepd after strong performance in the first quarter of the year.
Output in March averaged about 85,100 barrels of oil equivalent per day, up 14% over the same period last year, ahead of expectations due to group-wide operating efficiency of 97%. Output from Premier’s UK operations was up 47% year-on-year, driven by increases from the Catcher Area, which helped offset the sale of the company’s interest in the Babbage Area last December.
