Premier Oil has hit back at its largest creditor, which is calling for it to abandon its proposed USD 871 million North Sea acquisitions in light of the deteriorating market environment, by stating it retains “significant liquidity” and has hedged 30% of its 2020 production. The statement sent Premier’s share price soaring on Friday morning, although the surge has a long way to go to recover losses triggered by Monday’s historic crude stocks selloff.
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