Revised funding structure allows for debt reduction and growth
Year-to-date Premier’s production has averaged around 80 kboepd. A significant step up in production is expected once Catcher is on-stream later this year, materially enhancing the Group’s cash flows. The Group will priorities these cash flows towards reducing its absolute debt levels and leverage ratio to 3x EBITDA. At the same time, Premier and its lenders envisage that the Group will selectively seek to invest in its unsanctioned projects, at the appropriate equity levels, with due regard to the commodity price environment.
Please read the originial post here: https://www.aikidoodtu.org/premier-oil-announces-proposed-refinancing-part-i/