The leading independent portfolio management consultancy specialising in Acquisition, Advisory & Divestment Services for the upstream international oil and gas community.
30 June 2014
Stellar Energy Advisors is pleased to announce the signature of an agreement between Premier Oil UK Limited ("Premier") and the MOL Group ("MOL") with respect to the divestment of the Scott, Telford and Rochelle Fields in the UK North Sea for a consideration of USD 130 milllion. Stellar was the sole advisor to Premier for the sales process. As a result of the transaction (and subject to any pre-emptive rights of other Licence owners) MOL will acquire:-
has a long history of successful advisory mandates in the UK North Sea
and our enlarged team is well equipped to provide advisory services for
any mandate. This particular commission was complex given the substantial
abandonment costs associated with Scott and attendant issues. Through
Stellar's extensive network and market knowledge a number of well qualified
parties were introduced to the process and we are very pleased to have
been able to assist Premier in finding the right counter party.
the full press release please see: http://www.premier-oil.com/premieroil/media/press
Stellar acted as advisor to Premier for the transaction.