29th Apr 2016 07:30
LONDON (Alliance News) - Premier Oil PLC on Friday said the UK North Sea assets it acquired from E.ON have had a strong start to 2016, performing ahead of expectations.
The update came as Premier Oil said the acquisition has completed after receiving all necessary approvals.
"The acquired assets have had a strong start to 2016, performing ahead of expectation, adding immediate cash generative production of over 17 kboepd and provide future opportunities to enable us to deliver value for our shareholders," Chief Executive Tony Durrant said in a statement.
Kboepd stands for thousand barrels of oil equivalent per day.
Shares in Premier Oil were up 3.2% at 75.53 pence shortly after the market open in London on Friday.
By Samuel Agini; [email protected]; @samuelagini
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