LONDON - UK oil explorer Premier Oil (PMO.L: Quote, Profile, Research, Stock Buzz) said first half net profits soared 247 per cent to $71.2 million thanks to strong oil prices and higher production.
The result was shy of a forecast of $109 million from analysts at Dresdner Kleinwort and a forecast of $76 million from Deutsche Bank.
Premier said production rose 11 per cent to 38,000 barrels of oil equivalent per day (boepd) in the first half, thanks to higher output from North Sea fields.
The result was shy of a forecast of $109 million from analysts at Dresdner Kleinwort and a forecast of $76 million from Deutsche Bank.
Premier said production rose 11 per cent to 38,000 barrels of oil equivalent per day (boepd) in the first half, thanks to higher output from North Sea fields.
