Premier acquires 60% of Rockhopper's North Falkland Basin interests
Premier Oil has announced that it is to acquire a 60% stake in Rockhopper Exploration's Falklands/Malvinas portfolio. The total consideration is US$1 billion, comprising US$231 million cash to be paid upon completion of the deal, plus a commitment by Premier to carry Rockhopper through US$770 million of development and exploration spending. Rockhopper will take the lead role in any exploratory work, while Premier will operate during the development phase. This is the second notable ...