Premier Oil plc has provided an update in relation to two previously announced asset sales which have now completed. The combined cash consideration of the two transactions is $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.