Premier Plans 14 Wells in 2013

North Sea-focused independent Premier Oil plans to drill at least 14 wells this year in an exploration campaign targeting more than 200 million barrels of oil equivalent of prospective resources, the firm confirmed in an operations update Thursday.

Premier also reported that it estimates its average production for the whole of 2012 was 57,700 barrels of oil equivalent per day (boepd), compared with 40,400 boepd in 2011. The firm also said that it expects to increase its production to between 65,000 and 70,000 boepd in 2013.

Premier Chief Executive Simon Lockett commented in a statement:

"2013 will be a busy year for Premier. After an increase of 43 percent in 2012, a further significant increase in production is expected during 2013. We are also building an increasingly material exploration program. We will continue the work of 2012 which saw strong reservoir performance from our producing fields and excellent progress on our operated development projects."



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