Premier to buy EnCore for $340 million

摘要

London-UK producer Premier Oil has agreed to buy North Sea-focused EnCore Oil for GBP221 million ($340 million), boosting its control of the recent Catcher oil discovery in the North Sea where it already holds a 35% interest. The acquisition, which values EnCore at a 55% premium to its closing share price October 4, will give Premier some 17 million barrels of discovered oil reserves in the Catcher and Cladhan areas, representing a $20/b acquisition price, the companies said.