Premier Oil Company News

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Deadline Looms for Mexico Oilfield Development Talks
Talks between Pemex and a group of foreign companies over how to develop the giant Zama oil field may miss a deadline.
8:00 PM EST | March 23, 2021
New Private Firm Likely to Keep Stake in Mexico Oilfield
A new company soon to be created by Chrysaor Holdings Ltd and Premier Oil Plc will likely retain its stake in the giant Zama oil development.
8:00 PM EST | March 17, 2021
Oil Companies Wonder If Looking for Oil Is Still Worth It
As the coronavirus ravages economies and cripples demand, European oil majors have made some uncomfortable admissions in recent months.
8:00 PM EST | August 16, 2020
Premier Oil, BP Revise North Sea Acquisition Terms
The structure of the deal has been adjusted to reflect developments in global commodity markets.
8:00 PM EST | June 07, 2020
Mubadala to Farm Out 20% Interest in Offshore Blocks
Mubadala Petroleum has entered into a farmout agreement with Premier Oil for a 20 percent interest in two gas blocks offshore Indonesia.
8:00 PM EST | July 16, 2019
Britain's Premier Oil To Lift Peak Output At Catcher Field
Premier Oil is set to raise stable peak production at its Catcher field in Britain's North Sea.
8:00 PM EST | August 22, 2018
Independents Go Big in North Sea
While some majors are still involved in the North Sea, notably Statoil, the age of the independents is clearly on the ascendancy.
7:00 PM EST | January 02, 2018
European Oil Producers' Weak Hedging Shows Bet on Price Rebound
Europe's smaller oil producers are more optimistic about the market than they have been for the past couple of years as a significant reduction in hedging shows they are betting on higher prices.
8:00 PM EST | July 30, 2017
Mexico Oil Privatization Pays Off With Billion-Barrel Find
It's the first new find by a private company in the country in almost 80 years, according to consultant Wood Mackenzie.
8:00 PM EST | July 11, 2017
Premier Oil Expects Weak Pound To Help Bottom Line
Premier Oil expects to continue reaping benefits from weak sterling this year, as the depreciating currency has brought down the cost of investments in Britain at a time of low oil prices.
7:00 PM EST | January 11, 2017
BP: Potential Gas Play Could Open Up New Phase of North Sea Development
BP has started drilling a potential carboniferous gas play in southern North Sea block 43/26a, which could open up a new phase of development in the region, according to a company statement.
7:00 PM EST | December 05, 2016
Southern North Sea Special Interest Group Launched
A steering group of offshore companies has been appointed to work together to explore opportunities to maximize remaining gas reserves in the Southern North Sea (SNS).
7:00 PM EST | November 20, 2016
Premier Oil Agrees New Lending Terms In Exchange For Say In Projects
Premier Oil pushes back its refinancing deal to 1Q 2017, but says lenders had largely agreed to new terms in exchange for some control over which projects the company can invest in.
7:00 PM EST | November 16, 2016
Trade Group Oil & Gas UK Makes 4 Board Appointments
Trade association Oil & Gas UK appoints executives from Apache, Premier Oil, Repsol Sinopec and Rowan Companies to its board.
8:00 PM EST | October 03, 2016
Premier Oil Reaps $250M Brexit Windfall From Weak Pound
Premier Oil has saved about $250 million thanks to the depreciation of the British pound following the country's vote to leave the European Union.
8:00 PM EST | August 17, 2016
Premier Hits Oil in Bagpuss Well
Premier Oil makes an oil discovery at the North Sea Bagpuss well, which encounters 41 feet of hydrocarbon-bearing sands within a 68 foot hydrocarbon column.
8:00 PM EST | August 04, 2016
Premier Oil Production Could Finish Above Guidance in 2016
Premier Oil's full year production is expected to be at or above its output guidance rate of between 65,000 and 70,000 barrels of oil equivalent per day, following "strong production" in H1.
8:00 PM EST | July 11, 2016
Premier Oil Defers Test Of Financial Covenants
Premier Oil Plc, which is in talks with its lending group on the terms of its existing financial facilities, says the lending group has agreed to defer the test of its financial covenants.
8:00 PM EST | June 30, 2016
Premier Oil Achieves 'Strong' Production, Cuts Costs
Premier Oil achieved "strong" production levels in 1Q, according to its latest trading update, cutting costs by 10-20% in the process.
8:00 PM EST | May 10, 2016
Premier Completes E.ON North Sea Asset Acquisition
Premier Oil plc completes the acquisition of UK North Sea assets from E.ON.
8:00 PM EST | April 28, 2016
Premier Oil Slims Down Board as 3 Members Leave
Premier Oil says that 3 board members will stand down over the coming months and not be replaced, as the North Sea-focused oil producer slims its leadership and trims costs.
8:00 PM EST | April 13, 2016
Premier Oil: First Oil Achieved from Solan, Offshore UK
Premier Oil plc reveals that first oil has been safely achieved from the Solan field, located offshore UK.
8:00 PM EST | April 12, 2016
Premier Oil Appoints Former Fairfield CFO
Premier Oil appoints former Fairfield Energy Chief Financial Officer Iain Macdonald to its board as an independent non-executive director and member of the audit and risk committee.
8:00 PM EST | March 31, 2016
Premier Oil Warns of Further Cuts in 2016
Premier Oil plans to deliver "further actions" in an effort to lower its cost base next year, following a 25 percent cut in operating and G&A spend in 2015.
7:00 PM EST | February 24, 2016
Premier, Noble Terminate Contract for Eirik Raude Rig
Premier Oil and its partner, Noble Energy, decide to terminate their contract for Eirik Raude after several technical issues with the rig.
7:00 PM EST | February 11, 2016
Premier Oil's Shares Remain Suspended amid Proposed E.ON Deal
Premier Oil plc's ordinary shares remain suspended pending clarification from the UKLA on the status of the company's proposed acquisition of all of E.ON's UK North Sea assets.
7:00 PM EST | January 13, 2016
Premier Oil Awards SBM Offshore Sea Lion FEED Contract
Premier Oil awards SBM Offshore a front-end engineering and design (FEED) contract for an FPSO for Phase 1 of its Sea Lion development in the North Falkland Basin.
7:00 PM EST | January 12, 2016
Premier Oil to Acquire EON's UK North Sea Assets
Premier Oil agreed to buy the UK North Sea assets of Germany's EON SE for $120 million.
7:00 PM EST | January 12, 2016
Falkland Explorers Confirm Oil Discovery with Isobel Re-Drill
A re-drill of the Isobel Deep well in the North Falkland Basin confirms 'commercial quantities' of recoverable oil.
7:00 PM EST | January 10, 2016
Premier Oil: Solan First Oil Expected in January
Premier Oil plc expects to reach first oil from the Solan field, located offshore UK, in January following delays due to adverse weather conditions.
7:00 PM EST | December 22, 2015
Premier Spuds Isobel-2 Well in North Falkland Basin
Premier Oil spuds the Isobel-2 well in the North Falkland Basin in the South Atlantic.
7:00 PM EST | November 22, 2015
Premier Sells its Norwegian Business to Det Norske Oljeselskap
UK firm Premier Oil sells its entire Norwegian business to Det norske oljeselskap for $120 million.
7:00 PM EST | November 15, 2015
Premier: Catcher, Solan Projects Back 'On Track'
Premier Oil's Solan oilfield is on track to produce its first oil before the end of the year, while progress continues at the firm's Catcher project.
7:00 PM EST | November 11, 2015
JV Partners Withdraw from Vietnam's Offshore Block 121
Joint venture partners in Vietnam's offshore Block 121 in the Phu Khanh Basin withdraw from the license following the unsuccessful drilling of the Whale prospect.
8:00 PM EST | September 29, 2015
Sound Oil Makes Board Changes
Sound Oil appoints 2 new non-executive directors following the resignation of Andrew Hockey and Gerry Orbell.
8:00 PM EST | September 27, 2015
Premier Reports Production Ahead of Guidance
Premier oil reports that its production has remained ahead of guidance for 2015, and that it expects first oil from its Solan field during the fourth quarter.
8:00 PM EST | September 22, 2015
Mexico's Bid Round Hurt by Consortia Restrictions
Restrictions on partnership flexibility hurt Mexico's recent bid round, says an oil company executive at a conference in London.
8:00 PM EST | September 16, 2015
Rockhopper 'Well Placed' to Take Advantage of Low Oil Price
Rockhopper Exploration says that increased production from its Italian assets, recent acquisitions in Egypt and a strong balance sheet mean it is well placed in the low-oil price environment.
8:00 PM EST | September 14, 2015
Premier Oil Comes Up Dry in North Sea Well
Premier Oil Norge, the operator of production license 539, has come up dry in exploration well 3/7-10 S in the southern section of the North Sea.
8:00 PM EST | September 02, 2015
Premier Oil Posts Robust First-Half Results
Results from Premier Oil show it move from a profit to loss but the firm's first-half performance were judged 'solid' by analysts.
8:00 PM EST | August 19, 2015
Falkland Oil Driller to Press on Despite Argentina Legal Threat
Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.
8:00 PM EST | June 04, 2015
Premier Oil Strikes Deal to Take Full Control of Shetlands Project
Premier Oil has struck a deal to take full ownership of the Solan oil project west of Shetlands in the North Sea, taking over a 40 percent stake from project partner Chrysaor.
8:00 PM EST | June 01, 2015
Isobel Deep Hits Oil North of the Falklands
Premier Oil announces that oil has been discovered at the 14/20-1 Isobel Deep well in the North Falkland Basin.
8:00 PM EST | May 27, 2015
Premier Posts Positive Trading, Operations Updates
The UK's Premier Oil announces positive trading and operations updates
8:00 PM EST | May 12, 2015
Premier Oil Resumes Drilling Operations in North Falklands
Premier Oil resumes drilling at the North Falklands basin's Isobel Deep well.
8:00 PM EST | May 11, 2015
Zebedee Springs Oil, Gas near the Falkland Islands
Premier and Rockhopper announce the success of the Zebedee well offshore the Falkland Islands, with a hydrocarbon discovery of 136 feet of net pay.
8:00 PM EST | April 01, 2015
Pelikan Field Starts Production Offshore Indonesia
Premier Oil starts up production from the Pelikan field offshore Indonesia.
8:00 PM EST | March 09, 2015
Premier Oil Scraps Dividend as it Swings to 2014 Loss
UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.
7:00 PM EST | February 25, 2015
Premier Well Onshore Kenya Comes Up Dry
Premier Oil's Badada-1 exploration well, onshore Kenya, fails to find hydrocarbons.
7:00 PM EST | February 22, 2015
BW Offshore: Demand for New Leased Units 'Currently Uncertain'
BW Offshore says that despite short-term demand for new leased floating production units, it still expects outsourced production to be a cost-effective solution for oil firms.
7:00 PM EST | February 15, 2015