Chrysaor-Premier Oil deal could be ‘harbinger of things to come’
Private equity firms that piled into oil-production assets in the past few years now find themselves stuck, and forced to contemplate novel ways to make an exit.
Chrysaor
Chrysaor hands in application for CO2 storage licence
Oil and gas firm Chrysaor is seeking permission to store carbon dioxide in a depleted southern North Sea gas reservoir.
Premier Oil in ‘final negotiations’ ahead of FID on Tolmount East
Premier Oil is in "final negotiations" with contractors ahead of an investment decision being made on the proposed Tolmount East development.
UK oil industry is behind OGA strategy rethink, Chrysaor chief says
The boss of the UK North Sea’s biggest producer is confident national net-zero targets can be factored into the sector’s operations without large volumes of indigenous oil and gas being left stranded.
Chrysaor boss sees new deal for workers as potential antidote for ‘mistrust and unrest’
A proposed new deal for North Sea workers should help the sector free itself from an “endless loop of mistrust” and potential industrial unrest, the boss at a top operator hopes.
Number of North Sea reverse takeover candidates has ‘diminished significantly’
The number of public listed North Sea operators that could be a suitable fit for a reverse takeover have “diminished significantly”, according to an industry experty.
Premier Oil creditors give backing for Chrysaor merger
Premier Oil said today that its creditors have backed its proposed merger with Chrysaor and reorganisation of its finance arrangements.
Glengorm appraisal operations expected to start this month
Westwood Global Energy reports that as of October 28 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. There has been no appraisal drilling to date this year.
Work on new collective deal for North Sea workers ‘moving forward’
Efforts to create a new collective agreement for North Sea workers are understood to be “proceeding”.
North Sea big hitters rally behind new deal for offshore contractors
More than 20 North Sea oil industry big hitters are rallying behind a new collective deal for workers ahead of a critical deadline this week.
Platform electrification ‘key’ in reducing operational emissions
Offshore platform electrification will be the “main key technology” in reducing carbon emissions from oil and gas production, according to a senior academic.
Suncor mulls sale of stakes in UK and Norwegian North Sea fields
Canada’s Suncor Energy Inc. is exploring the sale of a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter.
Europe’s CCS projects boosted by increased funding
Increased funding from the EU and national governments have boosted the prospects for carbon capture technologies in Europe. Three projects in the Netherlands, Norway and UK could be operational by 2024.
‘The valuations for E&P companies on the stock market are not very attractive’ – could we see more North Sea reverse takeovers?
The reverse takeover model could become more of a permanent fixture in the North Sea in the coming years as more private-equity (PE) backed operators look to go public.
Private-equity backer’s exit options the same as they’ve always been, Zennor boss says
Zennor Petroleum’s boss has said the private-equity-backed oil and gas company is “sitting comfortably” in spite of the Covid-19 pandemic and commodity price drop.
Premier Oil hails arrival of Tolmount platform in North Sea, kicks off installation
Premier Oil has hailed the arrival of its Tolmount platform in the North Sea and kicked off installation work.
King Chrysaor, dratted imperialists, and five days of Forties at 50
In this week’s episode, in association with the ISA, the EV boys got under the skin of the week’s biggest slab of M&A news, which sees private-equity backed Chrysaor cement its position as the UKCS’s production King through a merger with Premier Oil.
Premier Oil deal won’t end Chrysaor acquisition spree – Westwood
The Chrysaor-Premier Oil mega merger won’t mark the end of Chrysaor’s acquisition spree, according to the top consultant at Westwood Global.
North Sea ‘ripe for consolidation’, analyst says
The UK oil and gas sector is “ripe for consolidation”, an analyst said following Chrysaor’s announcement that it was merging with Premier Oil.
Updated: Chrysaor and Premier Oil to merge, BP deal scrapped
Chrysaor will merge with London-listed Premier Oil in a reverse takeover which cements the private-equity backed firm’s position as the UK continental shelf’s top producer.
Premier boss expects ‘further talks’ on BP deal post-merger
Tony Durrant said he was “disappointed” that Premier Oil’s acquisition of BP’s stakes in the Andrew and Shearwater fields had been derailed.
Cook and Wentworth boss will be only two women CEOs of London-listed oil companies
Linda Cook’s appointment to the top job at the combined Chysaor-Premier Oil business will make her only the second woman chief executive at a London-listed oil and gas company.
Aberdeen University nanotechnology project to boost North Sea gas production
Scientists at Aberdeen University are developing a new production method that could be a “game-changer” for North Sea gas.
UKCS exploration drilling on course for record low in 2020, Westwood Global says
UK offshore exploration drilling is on course to slump this year to its lowest level since companies starting scouring the North Sea for oil in the mid-1960s.
CNOOC seeks buyers for Scott platform in UK North Sea: Report
CNOOC is looking for buyers for its Scott platform and associated oilfields in the UK North Sea, according to Reuters.