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Premier Oil chief content with performance in tough market

The chief executive of Premier Oil (LON:PMO), Tony Durrant, says the company’s disciplined approach to costs and conservative spending policy is working well in the current low oil price environment.

Premier has assets in various countries, including Vietnam, Indonesia, Norway, Pakistan, the UK and the Falkland Islands and produces 60,000 barrels of oil per day across the group.

“We’re protected from the volatility of oil & gas prices due to our good level of cash flow,” said the CEO, adding that the business is reducing costs, being conservative when it comes to spending but still seeking out investment opportunities.

Quick facts: Premier Oil PLC

Price: 20.31 GBX

Market: LSE
Market Cap: £187.98 m

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