Reuters LONDON – Premier Oil shareholders on Tuesday voted in favour of a reverse takeover of private equity-backed Chrysaor to create the British North Sea’s biggest oil and gas producer in which Premier shareholders will hold about 5.5%. “Shareholder approval for the Transaction has now been received,” said Premier, which will be renamed Harbour Energy but maintain its London listing.
Reuters LONDON – Private equity-backed Chrysaor has agreed a reverse takeover of Premier Oil PMO.L, the firms said on Tuesday, creating the British North Sea’s largest oil and gas producer at a time the sector is facing a sharp decline in demand. The deal, which will see Premier’s creditors paid $1.23 billion in cash, will fold one of the world’s
Reuters LONDON – Premier Oil (PMO.L) has agreed terms for a long-term refinancing of its debt facilities, it said on Thursday, including $300 million of new equity and an extension to its credit maturities, after swinging into a first-half loss due to weak crude prices. The British company has been struggling with debt since the oil slump of 2014. The
Houston Chronicle The sale of a stake in Mexico’s giant Zama oil field promised to help Premier Oil pay down debts and strengthen its balance sheet, but an ownership conflict is complicating that process. Some international oil companies operating in Mexico are waiting for a resolution to a conflict between Talos Energy, the field’s primary shareholder, and state-owned Petroleos Mexicanos
Reuters LONDON- Premier Oil is set to buy North Sea assets from BP and increase its stake in the Tolmount gas project, funded by a $500 million rights issue, but faces opposition from hedge fund ARCM, which vowed to fight the plans. Shares in UK-based Premier surged as much as 19% after it said on Tuesday that it plans to
By Tyler Losier, Energy Reporter, Oil & Gas 360 Third and final appraisal well drilled, FID expected by 2020 Talos Energy Inc. (stock ticker: TALO), an independent E&P headquartered in Houston, has completed its Zama appraisal program in Block 7 of Mexico’s offshore Sureste Basin. Block 7 is owned by a consortium of companies, including Sierra Oil & Gas, Wintershall
From Reuters Britain’s Premier Oil has teamed up with U.S. private equity fund Apollo Global Management to bid for oil and gas fields owned by Chevron in the British North Sea, according to industry sources. Premier has previously said it was looking to buy assets in the region, but it, and Apollo, had no immediate comment on Thursday. Other parties
Pemex, Talos, Premier Oil, and Sierra Oil and Gas Sign PUA for Zama Pemex, with the Block 7 Consortium – Talos Energy (ticker: TALO), Premier Oil (ticker: PMO), and Sierra Oil and Gas – have just signed a Pre-Unitization Agreement (PUA) for two offshore areas in Mexico’s Southeast Basin: the Amoca-Yaxche-03 allocation and the Block 7 contiguous production sharing contract.
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