July 15 (Reuters) – Britain’s Premier Oil (PMO.L) said it expects average first-half production to rise 17 percent and that its full-year production remains in line with previous guidance.
Estimated average group production for the first half was 46,600 barrels of oil equivalent per day (boepd) while forecast full year production continues to be around 44,000 boepd.
“Premier continues to make good progress towards its 75,000 boepd production target for 2012,” said Chief Executive Simon Lockett. “Our major projects are progressing well and the recent Catcher discovery will now move rapidly into development.”
Earlier this month, Premier raised its reserves estimate for the Catcher/Catcher East area in the UK Central North Sea to a range of 60 million to 100 million barrels of oil. [ID:nLDE6640AA]
(Reporting by Julie Crust; editing by James Davey)