Premier Oil prepares $500m capital increase

Aidan Gregory

January 07, 2020 02:15 pm

Premier_Oil_North_Sea_PA_230x150 — An oil platform stands amongst other rigs which have been left in the Cromarty Firth near Invergordon in the Highlands of Scotland. Rig platforms are being stacked up in the Cromarty Firth as oil prices continue to decline having a major impact on the UK's North Sea oil industry leaving thousands of people out of work. | Andrew Milligan/PA Archive/PA Images

Premier Oil has become the first company to announce a major ECM transaction in 2020, a £385m ($500m) capital increase to repay debt and finance the acquisition of two UK North Sea oilfields from BP.

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Aidan Gregory