Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Premier Oil raises exploration budget to spend more in Falklands

Published 09/07/2015, 07:23
Updated 09/07/2015, 07:25
© Reuters.  Premier Oil raises exploration budget to spend more in Falklands
HBR
-

LONDON (Reuters) - Oil producer Premier Oil (L:PMO) has increased its 2015 exploration budget by $20 million to account for higher investments in its drilling campaign in the Falkland Islands, the company said in a trading update on Thursday.

The London-listed firm, whose operations stretch from the Falkland Islands to Indonesia, also said it had received an offer for its Pakistan business and was starting a process with interested parties to dispose of those assets.

The company expects revenue in the first half of 2015 of $580 million, down 34 percent from a year earlier due to lower oil prices and lower production levels as the result of a disposal.

Premier Oil is scheduled to report half-year results on August 20.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.