Premier Oil To Buy Oilexco North Sea Unit For $505 Million

摘要

London (Reuters) - Britain's Premier Oil agreed to buy the North Sea unit of Canada's troubled Oilexco Inc. for $505 million, as strong oil companies take advantage of low crude prices and tough debt markets to acquire weaker rivals.Premier said on Wednesday the acquisition would generate cost synergies and grow its presence in the North Sea at a good price, after a $100 a bbl collapse in oil prices since July tamed soaring oil field valuations.