Share price boost for North Sea service firms
North Sea energy services firms including Wood, Petrofac and Hunting enjoyed a share price boost in the City today.
Premier Oil
UK North Sea to dominate global decommissioning spend over next five years
The UK is poised to lead the way as operators increase spending on North Sea decommissioning work amid low oil prices, according to a new report.
UK oil industry deserves ‘pat on back’ for keeping crude flowing, Premier boss says
Premier Oil’s boss says the UK oil industry deserves a “pat on the back” for keeping production flowing during the Covid-19 lockdown.
Premier Oil boss says BP ‘willing to listen’ as it looks to tweak North Sea deal
Premier Oil’s boss has said BP is “willing to listen” as the firm looks to renegotiate the terms of a North Sea acquisition due to the slump in oil prices.
Premier Oil to ‘re-engage’ with stakeholders over transactions
Premier Oil said today it is “re-engaging” with stakeholders about its proposed North Sea acquisitions and extensions to debt maturities in light of current market conditions.
Multiple workers evacuated from Valaris North Sea rig with suspected Covid-19 symptoms
A group of workers have been evacuated from a Valaris drilling rig working in the North Sea due to concerns over an outbreak of Covid-19 onboard.
Updated: Court sides with Premier Oil over deals, but roadblocks remain
A judge has sanctioned Premier Oil’s plans to acquire £660 million worth of North Sea fields and extend its debt maturities.
North Sea firms see shares slide as FTSE 100 closes deeply in the red
Oil majors BP and Shell were among the fallers as the FTSE 100 Index slid by 171.80 points, or nearly 3%, to 5,641.03 yesterday.
Expect lenders to help indebted oil firms survive until ‘less rainy day’
A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.
Valaris set to undertake drilling works at Premier Oil’s Catcher field
Drilling firm Valaris is set to undertake drilling and subsea work at Premier Oil's North Sea Catcher field next week.
Trio of UK oil and gas firms insist they can ride out market storm
A trio of London-listed oil and gas firms today insisted they could overcome volatile market conditions at the end of a bruising week.
Premier Oil ‘retains significant liquidity’ despite concerns over cash position
Premier Oil "retains significant liquidity" despite concerns voiced by a major investor that the firm is "running out of cash", according to a new trading update.
Premier Oil ‘running out of money’ after sell-off, lender says
Premier Oil Plc needs to review its debt obligations as it faces the likelihood of running out of money soon with oil prices at less than $40 per barrel, according to its largest creditor.
Oil shares massacred in London as crude price war erupts, dragging down Brent
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Premier Oil to ‘increase UK workforce elsewhere’ as Huntington FPSO prepares for June sail-away
Premier Oil will be “increasing its workforce” in other UK projects as the vessel which produces through its Huntington field prepares to sail off in summer.
Premier Oil’s UK boss steps down to focus on ‘strong personal interest’ in net zero
Premier Oil’s UK and North Sea boss has stepped down from the role to follow his “strong personal interest” in climate change as the firm announced a new net zero policy.
Premier Oil: Record UK production not enough to halt dip in pre-tax profits
Record levels of production from its North Sea assets were not enough to halt a drop in pre-tax profits for Premier Oil in 2019.
Teekay denies making redundancies call on North Sea vessel
Teekay Offshore has denied claims it told dozens of workers on a North Sea production vessel that they were being made redundant.
Fight over giant Mexican oilfield puts snag in Premier Oil’s stake sale
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.
Premier gets creditor backing for North Sea deals, debt plans
Premier Oil creditors have voted in favour of the firm's plans to buy North Sea assets and extend debt maturities.
Premier Oil creditor speaks out ahead of key vote
Premier Oil’s largest creditor has spoken out once more against the firm’s plans to acquire North Sea assets and extend debt maturities.
Jobs at risk from Premier Oil decom plans, but Hibiscus talks give Teekay hope
Up to 100 jobs are thought to be at risk from Premier Oil's plans to terminate vessel owner Teekay’s contract for a North Sea field.
Creditor vows to pose ‘series of questions’ about Premier Oil deals
Premier Oil’s largest creditor is refusing to back down in its challenge to the company’s planned acquisitions and debt maturity extensions.
Premier Oil gets court approval for debt plan to acquire North Sea assets
UK-based energy explorer Premier Oil can move ahead with its plan to extend debt maturities and buy gas fields in the North Sea, a Scottish court ruled on Wednesday.
Premier in court date with opponent to acquisition, debt extension plans
Premier Oil and its biggest creditor were going head-to-head in court yesterday over the firm’s intention to extend its debts and acquire North Sea assets.