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Premier Oil confirms interest in North Sea deals

Gasoil News - Published on Wed, 16 Jan 2019

Image Source: ET EnergyWorld
Reuters reported that Premier Oil confirms interest in North Sea deals after report on cash call Britain's Premier Oil said on Monday it was looking to buy UK North Sea assets, after the Sunday Times reported that it was preparing to tap shareholders for cash to help it buy about USD 1.5 billion worth of oil fields. Premier Oil was in the running to pick up fields being sold by US oil giant Chevron Corp and is considering a rights issue or share placing to help pay for them should it win the auction, according to the Sunday Times report.

The British oil and gas company said on Monday it was looking at opportunities to buy UK North Sea assets, but no decision had been taken to bid for assets currently being marketed by Chevron and how any deal would be financed.

Premier Oil could sell all or part of its Latin American business to help pay for the deal - and minimise the size of any share sale, the Sunday Times said, citing industry sources.

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Posted By : Joykumar Irom on Wed, 16 Jan 2019
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