Premier Oil has interests in Indonesia, Vietnam, the Falklands and exploration and appraisal operations in Alaska, Brazil and Mexico.
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%.
“Shareholder approval for the transaction deal has now been received,” said Premier, which will be renamed Harbor Energy but maintain its London listing. Premier Oil has interests in Indonesia, Vietnam, the Falklands and exploration and appraisal operations in Alaska, Brazil and Mexico.
Creditors of Premier, which has net debt of US$ 1.9 billion, will receive US$ 1.2 billion in cash under the merger and debt restructuring plan from a new debt facility and existing cash from both groups.