Premier plans $210m equity raise for BP asset purchase

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By Mike Turner
20 Jul 2020

Premier Oil, the UK oil company, has signed sale and purchase agreements to buy BP assets in the North Sea in a deal that could total up to $565m, with an equity raise earmarked to provide the funds for an upfront payment.

Premier is close to finalising its acquisition of BP’s Andrew area assets, where the UK oil major has interests in five fields, and BP’s minority stake in the Shearwater gas field that is operated by Royal Dutch Shell.

The acquisition includes a $210m upfront payment from Premier to BP. ...

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