One-Page Deal Sheet
Premier Oil to Acquire North Sea Assets from E.ON
Premier Oil E.On
Announced Date
January 13,2016
Effective Date
January 01,2015
Close Date
April 29,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
120
Asset/Basin:
{"Central North Sea","West of Shetlands","Southern Gas Basin"}
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
North Sea,Offshore
Country
United Kingdom
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Closing Announcement - April 29, 2016
The Board of Premier has announced that following receipt of all necessary approvals, the acquisition of the UK North Sea assets from E.ON has now completed.
Tony Durrant, Chief Executive, commented: "We are pleased to have completed the acquisition of the UK North Sea assets from E.ON which strengthens Premier’s position in the UK North Sea, adding high quality assets at a compelling valuation of only $1.6/boe. The acquired assets have had a strong start to 2016, performing ahead of expectation, adding immediate cash generative production of over 17…