Chrysaor is acquiring Premier Oil by way of a reverse takeover and refinancing. Chrysaor shareholders will own at least 77% of the pro-forma business, which will be London's largest listed independent E&P company. With production of over 250 kboe/d (90% from the UK) Chrysaor will rival European peers Lundin and Aker BP for scale. Private equity-backed Chrysaor was already the biggest independent producer in the UK. While around 75% of Premier's current production also comes from the UK, it is a more internationally diverse business with additional production in South East Asia and major development opportunities in Latin America.