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Global and Regional Markets

Premier announces proposed sale of Wytch Farm interests

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Premier announced that it has entered into a sale and purchase agreement to sell its entire interests in licences PL089 and P534, which contain the Wytch Farm field, to Verus Petroleum for a cash consideration of $200 million (subject to certain customary financial adjustments) payable on completion. In addition, Premier will be able to release Letters of Credit totaling approximately $75 million that have been issued in relation to future decommissioning liabilities that are now being transferred to Verus. The effective date of the disposal is 1 July 2017. Wytch Farm is an onshore oil field located in Dorset, United Kingdom, that has been producing since 1979. Verus is a UK-focused independent E&P company backed by HitecVision, a Norway-based private equity investor ...

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ENSCO DS-7 contracted to Noble Energy in the Mediterranean Sea

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Ensco announced that ultra-deepwater drillship ENSCO DS-7 has been awarded a contract by Noble Energy to drill two wells and complete four production wells at the Leviathan field development in the Mediterranean Sea. This contract is expected to commence in March 2018 and be completed in December 2018. The contract also includes four one-well priced customer options that if fully exercised would extend the contract into 2020...

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Transocean announces agreement to acquire Songa Offshore

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Transocean has reached an agreement with Songa Offshore whereby Transocean will, subject to certain conditions, make a voluntary exchange offer to acquire 100% of the issued and outstanding shares of Songa Offshore, including shares issued before expiry of the offer period as a result of the exercise of warrants, convertible loans and other subscription rights...

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