Premier Oil boosts production ahead of refinancing | Bhatia Brothers Group

By | November 27, 2019

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.

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Author: Madhav Bhatia

The Bhatia Brothers founding father and young industrialist B.V. Bhatia set up a modest family business in Gulf and India. With an unswerving commitment to offer the best in value and quality to every customer, the ambitious B.V. Bhatia worked assiduously to realize his vision. Today over 100 years and four generations later, the legacy of principles and values B.V. Bhatia instilled in his family continues to be the foundation for Bhatia Brothers Company. Bhatia Brothers, Head Quarters is in Dubai, U.A.E is one of the oldest Business House in the region and has offices and warehouses spread over the Middle East. Bhatia Brothers also has its presence in countries like Oman, Qatar, Kuwait, India, Iraq, Nigeria and UK. Bhatia Brothers caters to varied industries with focused divisions created to serve the targeted industry. The division further operates through autonomous business units designed to serve the customers. The companies engineering businesses are certified with International Quality Standard Operations (ISO 9000) or equivalent.