Premier Oil (PMO) reiterated daily production guidance of 58,000 to 63,000 barrels of oil equivalent (boe) for 2014 despite averaging 65,800 boe per day throughout the first four months of the year – a 13 per cent rise on the corresponding period in 2013. The implied fall-away reflects a substantial maintenance programme planned for the second half of the year.
Production from the Huntington field was interrupted in mid-April for repairs, but there were encouraging performances from the Premier-operated Balmoral Area and the non-operated Wytch Farm. Looking ahead, Premier expects to receive DECC approval for the Catcher development soon, with first oil still pencilled-in for midway through 2017. The company also expects to announce a rig contract for the 2015 exploration programme on its Sea Lion discovery by the end of the current quarter.
