Premier Oil completes asset sales for $147.5 million

12/22/2014

Premier Oil completes asset sales for $147.5 million

LONDON -- Premier Oil has stated completeion of two previously announced asset sales for a combined cash consideration of  $147.5 million.

Premier has completed the sale of its non-operated interests in the producing Scott, Telford and Rochelle fields to MOL Group for a cash consideration of $130 million, before interim period adjustments. MOL has assumed the liabilities for future abandonment costs.

Premier has also completed the sale of its 30% stake in PL359, which contains the Luno II discovery, offshore Norway, to Lundin for $17.5 million, plus working capital adjustments.

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