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Debt still a major issue despite financial restructuring

Oil and gas producer Premier Oil (PMO) is coming to the end of a mixed 2017. The year has encompassed a financial restructuring and an unexpected exploration success offshore Mexico.

The company headed into the final quarter of the year with net debt of $2.8bn, up slightly from the half year total of $2.7bn.

The share price performance in 2018 is likely to depend on the extent to which rising production and a higher oil price can help the company reduce its borrowings.

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