Premier Oil Company News
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Deadline Looms for Mexico Oilfield Development Talks
Wednesday, March 24, 2021Talks between Pemex and a group of foreign companies over how to develop the giant Zama oil field may miss a deadline.
New Private Firm Likely to Keep Stake in Mexico Oilfield
Thursday, March 18, 2021A 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.
Oil Companies Wonder If Looking for Oil Is Still Worth It
Monday, August 17, 2020As the coronavirus ravages economies and cripples demand, European oil majors have made some uncomfortable admissions in recent months.
Premier Oil, BP Revise North Sea Acquisition Terms
Monday, June 08, 2020The structure of the deal has been adjusted to reflect developments in global commodity markets.
Mubadala to Farm Out 20% Interest in Offshore Blocks
Wednesday, July 17, 2019Mubadala Petroleum has entered into a farmout agreement with Premier Oil for a 20 percent interest in two gas blocks offshore Indonesia.
Britain's Premier Oil To Lift Peak Output At Catcher Field
Thursday, August 23, 2018Premier Oil is set to raise stable peak production at its Catcher field in Britain's North Sea.
Independents Go Big in North Sea
Wednesday, January 03, 2018While some majors are still involved in the North Sea, notably Statoil, the age of the independents is clearly on the ascendancy.
European Oil Producers' Weak Hedging Shows Bet on Price Rebound
Monday, July 31, 2017Europe'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.
Mexico Oil Privatization Pays Off With Billion-Barrel Find
Wednesday, July 12, 2017It's the first new find by a private company in the country in almost 80 years, according to consultant Wood Mackenzie.
Premier Oil Expects Weak Pound To Help Bottom Line
Thursday, January 12, 2017Premier 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.
BP: Potential Gas Play Could Open Up New Phase of North Sea Development
Tuesday, December 06, 2016BP 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.
Southern North Sea Special Interest Group Launched
Monday, November 21, 2016A 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).
Premier Oil Agrees New Lending Terms In Exchange For Say In Projects
Thursday, November 17, 2016Premier 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.
Trade Group Oil & Gas UK Makes 4 Board Appointments
Tuesday, October 04, 2016Trade association Oil & Gas UK appoints executives from Apache, Premier Oil, Repsol Sinopec and Rowan Companies to its board.
Premier Oil Reaps $250M Brexit Windfall From Weak Pound
Thursday, August 18, 2016Premier Oil has saved about $250 million thanks to the depreciation of the British pound following the country's vote to leave the European Union.
Premier Hits Oil in Bagpuss Well
Friday, August 05, 2016Premier 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.
Premier Oil Production Could Finish Above Guidance in 2016
Tuesday, July 12, 2016Premier 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.
Premier Oil Defers Test Of Financial Covenants
Friday, July 01, 2016Premier 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.
Premier Oil Achieves 'Strong' Production, Cuts Costs
Wednesday, May 11, 2016Premier Oil achieved "strong" production levels in 1Q, according to its latest trading update, cutting costs by 10-20% in the process.
Premier Completes E.ON North Sea Asset Acquisition
Friday, April 29, 2016Premier Oil plc completes the acquisition of UK North Sea assets from E.ON.
Premier Oil Slims Down Board as 3 Members Leave
Thursday, April 14, 2016Premier 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.
Premier Oil: First Oil Achieved from Solan, Offshore UK
Wednesday, April 13, 2016Premier Oil plc reveals that first oil has been safely achieved from the Solan field, located offshore UK.
Premier Oil Appoints Former Fairfield CFO
Friday, April 01, 2016Premier 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.
Premier Oil Warns of Further Cuts in 2016
Thursday, February 25, 2016Premier 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.
Premier, Noble Terminate Contract for Eirik Raude Rig
Friday, February 12, 2016Premier Oil and its partner, Noble Energy, decide to terminate their contract for Eirik Raude after several technical issues with the rig.
Premier Oil's Shares Remain Suspended amid Proposed E.ON Deal
Thursday, January 14, 2016Premier 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.
Premier Oil Awards SBM Offshore Sea Lion FEED Contract
Wednesday, January 13, 2016Premier 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.
Premier Oil to Acquire EON's UK North Sea Assets
Wednesday, January 13, 2016Premier Oil agreed to buy the UK North Sea assets of Germany's EON SE for $120 million.
Falkland Explorers Confirm Oil Discovery with Isobel Re-Drill
Monday, January 11, 2016A re-drill of the Isobel Deep well in the North Falkland Basin confirms 'commercial quantities' of recoverable oil.
Premier Oil: Solan First Oil Expected in January
Wednesday, December 23, 2015Premier Oil plc expects to reach first oil from the Solan field, located offshore UK, in January following delays due to adverse weather conditions.
Premier Spuds Isobel-2 Well in North Falkland Basin
Monday, November 23, 2015Premier Oil spuds the Isobel-2 well in the North Falkland Basin in the South Atlantic.
Premier Sells its Norwegian Business to Det Norske Oljeselskap
Monday, November 16, 2015UK firm Premier Oil sells its entire Norwegian business to Det norske oljeselskap for $120 million.
Premier: Catcher, Solan Projects Back 'On Track'
Thursday, November 12, 2015Premier 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.
JV Partners Withdraw from Vietnam's Offshore Block 121
Wednesday, September 30, 2015Joint 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.
Sound Oil Makes Board Changes
Monday, September 28, 2015Sound Oil appoints 2 new non-executive directors following the resignation of Andrew Hockey and Gerry Orbell.
Premier Reports Production Ahead of Guidance
Wednesday, September 23, 2015Premier 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.
Mexico's Bid Round Hurt by Consortia Restrictions
Thursday, September 17, 2015Restrictions on partnership flexibility hurt Mexico's recent bid round, says an oil company executive at a conference in London.
Rockhopper 'Well Placed' to Take Advantage of Low Oil Price
Tuesday, September 15, 2015Rockhopper 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.
Premier Oil Comes Up Dry in North Sea Well
Thursday, September 03, 2015Premier 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.
Premier Oil Posts Robust First-Half Results
Thursday, August 20, 2015Results from Premier Oil show it move from a profit to loss but the firm's first-half performance were judged 'solid' by analysts.
Falkland Oil Driller to Press on Despite Argentina Legal Threat
Friday, June 05, 2015Falkland 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.
Premier Oil Strikes Deal to Take Full Control of Shetlands Project
Tuesday, June 02, 2015Premier 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.
Isobel Deep Hits Oil North of the Falklands
Thursday, May 28, 2015Premier Oil announces that oil has been discovered at the 14/20-1 Isobel Deep well in the North Falkland Basin.
Premier Posts Positive Trading, Operations Updates
Wednesday, May 13, 2015The UK's Premier Oil announces positive trading and operations updates
Premier Oil Resumes Drilling Operations in North Falklands
Tuesday, May 12, 2015Premier Oil resumes drilling at the North Falklands basin's Isobel Deep well.
Zebedee Springs Oil, Gas near the Falkland Islands
Thursday, April 02, 2015Premier and Rockhopper announce the success of the Zebedee well offshore the Falkland Islands, with a hydrocarbon discovery of 136 feet of net pay.
Pelikan Field Starts Production Offshore Indonesia
Tuesday, March 10, 2015Premier Oil starts up production from the Pelikan field offshore Indonesia.
Premier Oil Scraps Dividend as it Swings to 2014 Loss
Thursday, February 26, 2015UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.
Premier Well Onshore Kenya Comes Up Dry
Monday, February 23, 2015Premier Oil's Badada-1 exploration well, onshore Kenya, fails to find hydrocarbons.
BW Offshore: Demand for New Leased Units 'Currently Uncertain'
Monday, February 16, 2015BW 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.