Premier Oil turns to full-year profit. Achieves record production

UK-based oil company Premier Oil reported a net profit in 2018 of $133.4 million, on the back of record production.

Premier Oil, which in 2017 posted a loss of $253 million, said on Thursday it achieved record production of 80.5 kboepd in 2018, despite material asset sales.

Premier’s production was boosted by new output from the Catcher area in the North Sea. For comparison, in 2017, Premier Oil produced 75.0 kboepd.

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