Premier Oil abandoned its plans to buy North Sea fields from BP for $210 million after Premier was taken over by rival Chrysaor, marking a small dent in BP's $25 billion disposals target.'Premier will not be proceeding with the proposed refinancing…
Two UK-based offshore oil and gas companies Premier Oil and Chrysaor are set to merge in an all-stock transaction. Premier Oil also said that its proposed acquisition of BP's North Sea assets will not take place.In a joint statement released Tuesday…
Creditors of Premier Oil have extended a waiver for the group's debt covenant test until Nov. 5, Premier said on Thursday, granting it breathing space to avoid an immediate debt crunch and work on a longer-term plan.Premier needs to convince…
Struggling oil and gas producer Premier Oil has begun talks with BP to lower for the second time a $210 million deal to acquire stakes in two North Sea oilfields, sources told Reuters on Wednesday.Premier is seeking to reduce the cash payment…
Premier Oil Plc said on Tuesday it was in talks with private-equity backed oil producer Chrysaor and several other parties on alternative deals to secure long-term debt refinancing.Premier announced on Aug. 20 that it was seeking a total of $530 million in fresh equity…
London-listed oil company Premier Oil has informed that the completed jacket and topside are now en route to the company's Tolmount field in the UK sector of the North Sea.The 500 bcf field, sanctioned in 2018, had been on schedule for first gas by the end of the year…
Premier Oil said on Thursday it had agreed to terms for a long-term refinancing of its debt facilities, including $300 million of new equity and an extension to its credit maturities, after posting a first-half loss on weak crude prices. The British company said $2…
UK-based oil company Premier Oil has signed a sale and purchase agreements (“SPAs”) with BP for the acquisition of BP’s interests in the Andrew Area and its Shearwater assets, under revised terms announced in June.The two companies had in January…
Premier Oil said on Thursday it will not acquire the additional 25% interest in the Tolmount gas project from South Korea's Dana Petroleum, while its creditors approved the acquisition of BP's North Sea assets under the amended terms.The UK…
British oil major BP has agreed to discount the price of the North Sea assets it is selling to Premier Oil, Premier said on Friday.Under the new deal, Premier only has to pay $115 million out of the initial price of $625 million if oil prices…
Premier Oil will issue discounted shares to activist hedge fund ARCM representing 8.91% of the company to pay for North Sea assets from BP, which agreed to reduce the price, Premier said on Friday.ARCM, which owns around 15% of Premier's debt and has a large short position in its shares…
UK-based oil and gas operator Premier Oil has said it has suspended the Sea Lion-1 oil project offshore the Falkland Islands.The company said the $1.8 billion offshore oil project would be suspended to minimize ongoing spend in light of the current market conditions…
Premier Oil is asking BP to cut the sale price of two North Sea oilfields in a proposed $625 million deal due to weak oil prices, Chief Executive Tony Durrant said on Wednesday.The company is also talking to shareholders, creditors and brokers…
A British court on Wednesday approved Premier Oil's plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market conditions, Premier said.Activist hedge fund ARCM…
Rockhopper Exploration, a partner in Premier Oil-operated Sea Lion offshore oil project in the Falkland Islands, is confident it will manage to farm-out a share in the project despite the low oil prices and COVID-10 uncertainty.The two companies…
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