Premier Oil has served a notice to Ocean Rig for breach of material obligations under the contract for the Eirik Raude drilling unit.
Premier Oil's shares more than doubled in value after trading resumed this morning following a suspension caused by the acquisition of E.ON's North Sea assets.
Premier Oil’s shares will resume trading on the London Stock Exchange after reaching a deal with E.ON for its North Sea assets.
Premier Oil shares remained suspended yesterday amid uncertainty over the status of the firm’s latest North Sea investment. The stock was worth 19p per share before Wednesday’s request from London-based Premier to halt trading, due to its £83million-plus acquisition of assets from Germany’s E.ON.
Premier Oil has confirmed it will acquire E.ON's North Sea assets in a $120million deal.
Premier Oil is one of the UK's longest established independent oil companies.
Rockhopper Exploration expects to deliver 60 million more barrels of oil from its Sea Lion asset after revised plans revealed field life has increased from 15 to 20 years.
Premier Oil this morning confirmed its shares had been suspended from the London Stock Exchange ahead of a potential takeover.
Norwegian Energy Company ASA (Noreco) today confirmed it was forced to exit the North Sea’s Huntington field, after its licence partners served up a final notice.
Premier Oil’s re-drill has confirmed its oil find in the North Falkland basin.
Premier Oil today confirmed first oil from its Solan field had been pushed back until next month.
A consortium that includes Mexico's Sierra Oil & Gas plans in early 2017 to make its first exploratory drill in one of the fields it was awarded as part of a landmark energy reform.
Oil producer Premier Oil plans to allocate around $400 million a year in 2017 and 2018 to capital expenditure (capex) as it trims investments to the minimum of projects on its radar.
Rockhopper Exploration has spudded its latest well in the Falklands region as it looks to increase the volume of proven oil.
Premier Oil has issued a public notice after it applied to DECC (Department of Energy and Climate Change) for a permit to use and discharge chemicals in connection with the Solan field.
Premier Oil has sold its Norwegian business, Premier Oil Norge, to Det norske for $120million.
Premier Oil is eyeing North Sea bargains as the firm promised first oil from its Solan field in time for Christmas.
Premier Oil said its Solan project is on track to produce its first oil by the end of the year off the west coast of Shetland. The company said it was also ready for first oil from the Catcher project in 2017 as it posted its results for the first 10 months of the year. The progress of the Solan field will be “subject to weather” in the UK North Sea.
Two of the North Sea’s biggest oil explorers have warned there could be a further 10,000 jobs losses in the oil and gas industry. Both Amjad Bseisu, chief executive of EnQuest, and Premier Oil’s chief executive Tony Durrant said the industry was making the expectation as the decline in oil price continues. Industry body Oil & Gas UK has reported up to 5,500 jobs have been affected in the last year.
Premier Oil has revealed its production levels are ahead of expectations.
The boss of UK independent oil producer Premier Oil said he does not see a viable long-term future for the North Sea - unless collaboration goes to a whole new level.
Premier Oil is to plug and abandon a dry well in the Norwegian sector of the southern North Sea.
A strong North Sea performance saw Premier Oil’s cash flow rise for the first half of the year.
Premier Oil has cut its operating costs by 30% as a challenging marketplace sees its turnover slide. The firm reported total revenues for the first half of the year topped out at $580million – down from last year’s $885million. The dip triggered Premier to cut its operating costs by 30% - down to $150million. The company credited the sale of the “high cost Scott area in the UK” for the part of the savings.
Premier Oil has been granted a drilling permit for a well in the southern North Sea by the Norwegian Petroleum Directorate.