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Premier Oil to buy BP assets for $625 million with rights issue

FILE PHOTO: A sign is seen outside BP's North Sea Headquarters in Aberdeen
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LONDON (Reuters) - Premier Oil is set to buy stakes in North Sea oilfields Andrew and Shearwater from BP for $625 million (475 million pounds) and increase its stake in the Tolmount gas project in a deal with Dana worth $191 million, Premier said on Tuesday.Premier said the acquisitions would generate over $1 billion in free cash flow by the end of 2023 and add 23,000 barrels of oil equivalent..
Date Published: Jan 07, 2020
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