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Premier Oil has posted an increase in profit after tax of US$164 million for the 12 months to the end of December 2019.
The company said it has record free cash flow amounting to US$327 million, while net debt for the period reduced to US$1.99 billion.
Ebitdax increased to US$1,230 million for the year.
CEO of Premier Oil, Tony Durrant, said the company made 'significant progress' against its strategic targets during 2019.
'Strong operational performance resulted in record free cash flows and reducing debt levels. We took material steps to commercialise our reserve and resource base and added to our exploration acreage position,' he said. 'The proposed acquisitions will add material cash-generative UK production. Premier is committed to being a responsible operator and today announces that all operated projects will be developed on a net zero emissions basis.'
At 8:35am: (LON:PMO) Premier Oil PLC share price was -2.74p at 76.34p