Premier profits grow to £138m

Suzie Neuwirth
FTSE 250-listed energy explorer Premier Oil yesterday posted half-year profits of $214.6m (£137.8m), up from $194.6m the previous year.

The firm said it had addressed initial production issues relating to a gas-venting failure at its North Sea Huntington oil field. It set a full-year output target of 63,000 barrels of oil per day, up from 58,600 in the first half, depending on the Huntington field’s performance in the second half.