Premier Oil: Debt Reduction On Track As Output Grows

Premier Oil said on May 16 it is heading for a “material” reduction of its $2.7 billion debt pile, with its Catcher field ramp-up reaching a promised 60,000 barrels per day (bbl/d) as oil prices trade at their highest in more than three years.

In a trading update, Premier reiterated it was on track to meet its full-year production guidance of 80,000 bbl/d to 85,000 bbl/d of oil equivalent.