Premier Oil announced on Tuesday that shareholders voted in favor of a reverse takeover of private equity-backed Chrysaor to create the British North Sea’s biggest oil and gas producer in which Premier shareholders will hold about 5.5%.
The Falkland Islands Government has taken notice of the recent press release concerning the proposed merger of Premier Oil plc and Chrysaor Holdings Ltd.
Shares in Premier Oil, with interests in the Falkland Islands, soared more than 14% on Tuesday, after the oil explorer agreed with a reverse takeover that will create the largest London-listed independent oil-and-gas group, producing more than 250,000 barrels of oil a day.
ConocoPhillips is pulling out of UK exploration and production after selling its North Sea oil and gas assets to Chrysaor for US$ 2.68bn (£2bn). The sale will boost Chrysaor's production by about 72,000 barrels a day to 177,000 - making it one of the UK's biggest operators.