Premier Oil to ramp up production by early 2013

FTSE 250 oil and gas group Premier Oil has said that output is expected to increase substantially over the next few months and cash flows should sharply increase helped by strong oil prices.

FTSE 250 oil and gas group Premier Oil has said that output is expected to increase substantially over the next few months and cash flows should sharply increase helped by strong oil prices.

Production, which averaged 57.3 thousand barrels of oil equivalents per day (kboepd) in the first 10 months of the year (up from 40.4 kboepd in 2011), achieved a November average rate of 62.4 kboepd. Run rates are expected to rise to 75 kboepd once Premier's Huntington and Rochelle fields come onstream early next year.

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