Premier Oil expects higher annual production, cuts debt

(Reuters) - Premier Oil said on Thursday it expects annual production at the upper end of a previous forecast, banking on higher output from its flagship Catcher field in the British North Sea, and said its debt pile had reduced by $300 million (£234 million).The company, founded in 1934, now expects to produce oil at the upper end of its 75-80 kilo barrels of oil equivalent per day (kboepd) range for the full year, with production in the 10 months to October averaging 79.4 kboepd.Premier said..