Talos Comes Up Big Offshore Mexico
An appraisal well in the Zama project offshore Mexico showed more potential for oil, raising hopes of a large discovery, operator Talos Energy said on Thursday.The Zama project in Block 7 offshore Mexico is operated by Talos, whose partners include Sierra…
Premier Oil Seeks Buyers for Stake in Indonesia Gas Field
Premier Oil is seeking buyers for a 25 percent stake in the Tuna field development in Indonesia after reaching a gas sale deal with Vietnam, Chief Executive Tony Durrant said on Thursday. Premier and SKK Migas signed on Nov. 10 an agreement to sell gas to Vietnam from the Tuna development…
Premier Oil Seeks North Sea Gas Field Buyer
Premier selling 23.5 stake in Babbage gas field; CEO says bidding process yet to be launched. Premier Oil is seeking to sell half of its stake in the Babbage gas field in the North Sea, according to a document seen by Reuters, as it tries to pay down a heavy debt pile it accrued during the oil market downturn.
Premier Oil: North Sea Exploration No Longer Attractive
Shares at three-month high after Zama oil discovery. Premier Oil, which produces more than half its oil in the British North Sea, said on Thursday that exploring for resources in the basin was no longer attractive, a day after it announced a major discovery off Mexico.
Output Spike Brightens North Sea's Twilight Years
New oil projects over the next two years in the North Sea will have combined capacity to produce 1.2 million barrels per day (bpd), offsetting a slide in output from the oldest deepwater basin that produces the world's benchmark crude. The projects stretch…
Premier Oil CEO Pay Rises as Company Recovers
The head of North Sea oil producer Premier Oil saw his final pay package rise by a third last year to 1.4 million pounds ($1.7 million) as a reward for his work to cut costs amid weak oil prices, the company said in its annual report. London-listed Premier Oil…
Oil Producers Pounce on Price Uptick to Bolster Hedging
British-based oil producers have started to sell more oil and gas forward to lock in a small uptick in prices, as doubts grow that the market will ever return to the days of crude at $100 a barrel after a two-year rout. North Sea producers such as Ithaca…
Premier Oil Reaps $250 mln Brexit Windfall
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, its chief executive said. Premier Oil, which on Thursday announced a return to profit in the first half of the year despite weak oil prices…
North Sea Decommissioning Costs Weigh on Oil Firms
M&A in ageing North Sea stagnant after oil price drop; removing decommissioning costs could spark deal making. Oil firms trying to sell ageing North Sea oilfields are considering shouldering hundreds of millions of dollars in future dismantling costs to help find buyers, industry sources say.
