Chrysaor gets listing with Premier deal
The private equity-backed producer accesses London market without having to attempt an IPO
Chrysaor, the North Sea producer backed by the Harbour Energy subsidiary of private equity (PE) firm EIG, will combine with debt-laden Premier Oil in a reverse takeover that retains the latter’s stock market listing to create the largest independent in the London market. The deal will leave Harbour with a 39pc stake in the combined business but with the opportunity to monetise its investment without the need for an IPO or trade sale. Premier had been seeking to refinance its $2.7bn debt and raise funds for an acquisition of BP’s stakes in the Andrew and Shearwater fields. That transaction is now off, while Chrysaor will pay off £1.23bn of debt and repay $400mn in Letters of Credit (LCs). It
Also in this section
10 June 2025
There has been a flourishing of non-governmental initiatives aimed at incentivising voluntary action on emissions over the past five years, and momentum is not slowing down.
9 June 2025
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
9 June 2025
LNG has opportunities to expand in established markets and access new ones, but the sector’s outlook is also fraught with uncertainties, from political and regulatory difficulties to chokepoints, project delays and cost overruns, says the IGU
6 June 2025
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
