‘Unusual’ Catcher project to help get Premier Oil back in shape

Premier Oil’s chief executive said yesterday that he hopes to have the firm’s balance sheet “back in shape” in a year with the help from the “unusual” Catcher area.

Tony Durrant said Premier’s priority was to get its net debts down from £2billion at the end of 2017, a year in which it completed a sweeping financial restructuring.

Mr Durrant said much would depend on oil prices, but is confident the company will pass financial covenant tests associated with its refinancing.

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