The operator is currently planning facilities and integrity work towards a potential extension of field life. Jump to navigation Jump to search. Sign up here for GlobalData's free bi-weekly Covid-19 report on the latest information your industry needs to know. CALGARY, Alberta, Feb. 26, 2021 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and TC PipeLines, LP (NYSE:TCP) (TCP) announced that at the special meeting of TCP common unitholders held earlier today, TCP unitholders voted to approve the previously announced merger of TCP and a wholly owned subsidiary of TC Energy pursuant to … Aphria is a main distributor of medical cannabis to Germany and has operations in over 10 additional countries outside of Canada. Anne started her career in 1980 at the Exxon Chemical Company, where she served in multiple engineering and manufacturing positions before joining the Ford Motor Company in 1990 as a marketing specialist. Beryl Area fields averaged 17 kboepd (net), supported by an ongoing well intervention programme and continued infill drilling. UK-based oil company Premier Oil said Monday that all of the regulatory conditions relating to its merger with Chrysaor "have now been satisfied and all of the requisite anti-trust approvals have been received.". Keep up to date with Premier's latest news by signing up for Email Alerts or using the RSS link. Since 2014, Blair has served as the Chairman of the Board of Directors of Harbour Direct Holdings Ltd. and has been a member of the Board of Directors of Chrysaor since 2017. It is expected that each of the current non-executive directors of the Board of Premier Oil, other than Anne Marie Cannon, will step down from the Board with effect from the completion of the Transaction. Billy Clegg Simon will serve as the Senior Independent Non-Executive Director from completion of the Transaction. Premier Oil Share Chat. He was promoted to president in 1994 and CEO in May 2002. Before working at Terra, he was executive vice president of Robert W. Berry, Inc., an independent exploration and production company. Steve is the former chairman of America’s Natural Gas Alliance, the American chairman of the US-Egypt Business Council, a member of the Business Roundtable, a member of the Executive Committee of the M.D. 020 3757 4983, Chrysaor enquiries Tangerine is owned by Verod Capital, a leading private equity firm investing in … Premier is an independent upstream oil and gas company with a long history of operating and executing production and development projects. First gas is forecast for Q2 2021 with Tolmount expected to add 20‐25 kboepd (net) once on plateau with all four wells completed, anticipated during Q4 2021. Rupert Walford The merger resulted in TC Energy acquiring all of the outstanding publicly-held common units of TCP and TCP becoming an indirect, wholly owned subsidiary of TC Energy. As previously reported, the two UK-based offshore oil and gas companies said in October 2020 they'd merge in an all-stock transaction. In XI’s experience, often merger or acquisitions are done with players that are current partners. On completion of the Transaction, Premier will be renamed Harbour Energy plc (“Harbour Energy”). Kelly Kimberly                                                                                                                                   (C) R. Blair Thomas (Non-Executive Chairman designate) Elizabeth Brooks, Head of Investor Relations In early December, production from the Solan field was shut in following the failure of the emergency generator and Premier is actively progressing its repair. Will Medvei Premier Volleyball League award recipients. Steve was named chairman of Apache in January 2009, upon the retirement of company Founder Raymond Plank. in Petroleum Engineering from the University of Kansas and is currently a trustee for the University’s Endowment Association, a member of the Society of Petroleum Engineers and a non-executive director on the Board of BNY Mellon. A live webcast and conference call for analysts and investors will be held on Thursday 17 December 2020 at 11am (GMT), the details of which can be found on Premier’s website (www.premier-oil.com). Other successful mergers include that of Obu Cement with the Cement Company of Northern Nigeria (CCNN) in 2020 to form what is now BUA Cement, Chi Ltd.'s merger with carbonated drink heavyweight Coca Cola in 2019, as well as the merger of Ardova Plc with Forte Oil Plc to form Ardova Plc, although this led to a decrease in the size of total assets from N61.19bn in 2018 to … Blair received a B.A. To date, European Commission merger control clearance has been received and regulatory approval from the Norwegian MPE has been, conditionally, received. These numbers do not include Premier’s 2P reserves or 2C resources. Anne served as Chairman, President and CEO of Carpenter Technology from 2006 until 2009. Production at Premier’s operated Catcher Area has been restored to rates in excess of 60 kbopd (gross) following a seven day unplanned outage in mid-November. Anne Marie Cannon joined Premier Oil’s Board as a Non-Executive Director in February 2014. Chrysaor expects 2021 production to average in the range of 140-155 kboepd. Premier today provides an update on the proposed all share merger between Premier and Chrysaor Holdings Limited (“Chrysaor” and, following completion, the “Combined Group”) and the reorganisation of Premier’s existing debt and cross currency swaps (the “Transaction”). The Solan P3 well was brought on-stream in September and subsequently produced at rates of over 10 kbopd in mid-November with the ESP online. CH4 acquired and operated the Markham field and associated satellites on the UK/Dutch median line. TC PipeLines largest unitholder to vote against $1.68 bln merger with TC Energy February 19, 2021 EnergyNow Media Feb 19 (Reuters) – TC PipeLines LP’s largest independent unitholder, Energy Income Partners, said on Friday it plans to vote against the $1.68 billion merger with Keystone pipeline owner TC Energy, saying the deal undervalues the company’s assets. Share price: 25p, Market Cap: £232m. Harbour Energy will be the largest London-listed independent oil and gas company by production and reserves. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS IS AN ANNOUNCEMENT AND NOT A CIRCULAR OR PROSPECTUS OR EQUIVALENT DOCUMENT AND INVESTORS AND PROSPECTIVE INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION ON THE BASIS OF ITS CONTENTS. 020 7653 4000, Jefferies (Joint Corporate Broker) ERCE Equipoise Ltd (“ERCE”) Competent Person’s Report (“CPR”). Chrysaor’s total capital expenditure (including exploration and decommissioning) to the end of November 2020 was $651 million. Anderson Cancer Center Board of Visitors, and a member of the Fund for Teachers Board of Directors. EIG was formerly part of Trust Company of the West, where Blair was a Group Managing Director and a member of the Board of Directors of TCW Asset Management Company. Matthew Coakes Net debt at the end of November was $2.06 billion. Creating a strong UK independent oil and gas company of scale with a global footprint. from New York Law School and an L.L.M. Steve has served as a non-executive director of Chrysaor since 2017 and has been a member of the Board of Directors of Harbour Direct Holdings Limited since 2015. She retired from Royal Dutch Shell plc in 2010, at which time she was a member of the board of directors and the executive committee. (A) Linda Cook (Chief Executive Officer designate) Phil has been a member of the Board of Oil and Gas UK since 2013 and currently serves as its co-chair. Aphria Inc., headquartered in Leamington, Ontario, is an international producer and distributor of medicinal and recreational cannabis.The company operates through retail and wholesale channels in Canada and internationally. Since 2017, Linda has also served as the non-executive chairman of Chrysaor. Premier has confirmed that all … She was previously a senior advisor to the natural resources group at Morgan Stanley, focussing on upstream mergers and acquisitions. Chat About PMO Shares - Stock Quote, Charts, Trade History, Share Chat, Financial Terms Glossary. Elliot Thomas Will Soutar Simon was previously a member of the Main Committee of the 100 Group of UK FTSE CFOs and Chair of the European Round Table CFO Taskforce, and remains a member of the Advisory Board of the Centre for European Reform, a UK based think tank. ARC Marine wins support for artificial reef development. He has a particular interest in strategy, financial performance, risk management and corporate governance. Brunswick Group(Advisers to Chrysaor, UK & International Media) Announcing the deal,  Premier Oil and Harbour Energy, Chrysaor's largest shareholder, said the proposed merger would create the largest independent oil and gas company by production and reserves listed on the London Stock Exchange with combined production of over 250 kboepd as at 30 June 2020. Analysis: Montney shale patch merger shines light on Canada’s premier … This is approximately $575 million lower than forecast at the outset of the year, reflecting the pause in non-essential platform activity and the suspension of operated drilling activities for nearly six months. Feb 23rd, 2021. Anne has also previously served as chairman, CEO and principal of SA IT from 2011 to 2014, as a non-executive director on the board of XL Group from 2014 to 2018 (where she chaired the operations and technology committee and served on the risk and finance and audit committees) and Lockheed Martin from 2002 until 2017 (where she chaired the management development and compensation committee and served on the audit, ethics and sustainability and nominations committees). To access the replay, please dial 1 … 020 7824 1116, RBC Capital Markets(Financial Adviser, Sponsor and Joint Corporate Broker) Linda Cook is Chief Executive Officer (CEO) of Harbour Direct Holdings Ltd and managing director and member of the Investment and Executive Committees of EIG, positions she has held since 2014. The COVID-19 related suspension of some drilling activities in 2020 has also impacted the 2021 production forecast. Blair has over 30 years’ experience in the investment management business, with a focus on energy and energy-related infrastructure and extensive management and board experience. She has been a non-executive director at Anglo American since 2012 (where she chairs the remuneration committee and serves on the audit and nomination committees). Production averaged 61.2 kboepd for the 11 month period and Premier is on track to meet its full year guidance of 61‐64 kboepd. As previously announced, Premier has received the requisite level of creditor support for the Transaction and, immediately after the Prospectus is published, expects to launch the restructuring plan processes through the issuance of a practice statement letter. It will have a broad set of international growth opportunities with the financial flexibility and capacity to realise value from a top-tier development and exploration portfolio in addition to disciplined M&A. from Georgetown University Law Center. Harbour Energy will have a strong balance sheet. 2021 guidance is provided on a standalone basis and does not account for any optimisation that may occur post completion of the Transaction. Also, the company has received anti-trust approval in relation to the merger from the Mexican Economic Competition Commission. Publication of a shareholder circular and prospectus. R. Blair Thomas has more than 30 years’ experience in the investment management business, with a focus on energy and energy-related infrastructure. It is expected that a new Chief Financial Officer will be identified prior to completion of the merger. This is as a result of lower forecast production and increased maintenance expense in 2021. NAL’s largest synergy partner was TORC Oil and Gas Ltd, foreshadowing the next deal to some degree. A replay will be available beginning three hours after the teleconference’s completion through March 17, 2021. Premier is pleased to announce that a shareholder circular (the “Circular”) and prospectus (the “Prospectus”) in relation to the Transaction are expected to be published later today, subject to FCA approvals, and that the General Meeting of Premier’s shareholders to approve the Transaction has been scheduled for 12 January 2021. Read our 2019 Sustainability Report here. 2021 total capital expenditure (including abex) is expected to be c. $275 million. Premier forecasts 2021 operating costs (ex-lease costs) of $15/boe. The joint venture partners are considering adding a second drilling unit in late 2021 to appraise the Talbot discovery and to drill the Dunnottar exploration prospect. Blair is also a member of the Board of Directors and the Investment Committee of FS/EIG Advisor, the investment advisor to FSEP, a non-traded business development company focused on the energy sector. As the company embarks on a transformative merger, now could be a great time for me to buy the Premier Oil share price, writes this Fool. The General Meeting for Premier’s shareholders to approve the Transaction has been scheduled for 12 January 2021. Blair is also the Chairman of Limetree Bay Ventures, and Prumo Logistica S.A., both private companies. Chrysaor benefits from a significant hedging programme with approximately 67 per cent of its 2021 1H oil volumes hedged at an average price of $60/bbl, and 73 per cent of its 2021 1H gas volumes hedged at an average price of 42 pence/therm. She is also a Senior Advisor at PJT Partners Inc. She has previously held executive director roles on the boards of Hardy Oil and Gas and British Borneo. Premier Oil (AIM:PMO): Premier merger with Chrysaor to relist as Harbour Energy on 1 April 2021. Prior to joining EIG in 1998, Blair was a senior investment officer with the Inter-American Development Bank and a project finance attorney at the law firm of Brown & Wood in New York. At 30 June 2020, ERCE has certified that Chrysaor had 491 mmboe of 2P reserves and 388 mmboe of 2C resources. In the AELE (Armada, Everest, Lomond and Erskine) area, production averaged 31 kboepd (net). As previously announced, Richard Rose will be the Interim Chief Executive until completion of the Transaction, in addition to his current role as Finance Director. As previously announced, it is anticipated that the Board of Harbour Energy will comprise 11 directors: six independent non-executive directors, two non-executive directors appointed by funds managed by EIG Global Energy Partners (“EIG”) and three executive directors. She has over 30 years’ experience in the energy and banking sectors, including roles at Thomson North Sea, Shell Exploration and Production and J Henry Schroder Wagg. Breakdown of Chrysaor’s 2P reserves and 2C resources (net to Chrysaor, mmboe) as at 30 June 2020 (as per ERCE’s CPR), 1 As per ERCE’s CPR, rounded to the nearest 1 mmboe, Announcement of the Merger and Debt Restructuring, Publication and posting of the Prospectus, the Circular, the Notice of General Meeting and Forms of Proxy, Latest time and date for receipt of Forms of Proxy, English Court hearing to convene the English Restructuring Plan Creditor Meetings, Scottish Court hearing to convene the Scottish Restructuring Plan Creditor Meetings, English Court hearing to sanction the English Restructuring Plan, Scottish Court hearing to sanction the Scottish Restructuring Plans, Readmission and Admission and dealings in New Ordinary Shares, fully paid, commence on the London Stock Exchange, Completion of the Merger and Debt Restructuring becomes effective. In 2018 she was appointed as CEO of GKN Aerospace on an interim basis to prevent a hostile takeover. Patrick Handley EIG is among the largest institutional investors in the energy sector and is active across the energy value chain and around the globe. Brandon Messina On 6 October 2020, Premier announced the proposed merger with Chrysaor Holdings Limited, which was approved by shareholders on 12 January 2021. Phil Kirk is CEO of Chrysaor. Oil and Gas News, Analysis and Insights around Energy. Steven Farris served as chairman and CEO of Apache Corporation, an oil and natural gas exploration and production company with operations in the United States, Canada, the United Kingdom, Egypt, and Australia. A CIRCULAR AND PROSPECTUS IN RELATION TO THE TRANSACTION DESCRIBED IN THIS ANNOUNCEMENT WILL EACH BE PUBLISHED IN DUE COURSE. Premier today provides an update on the proposed all share merger between Premier and Chrysaor Holdings Limited (“Chrysaor” and, following completion, the “Combined Group”) ... Anne Marie Cannon joined Premier Oil’s Board as a Non-Executive Director in February 2014. Most Valuable Player. LONDON – Premier Oil and Chrysaor could complete their proposed merger on March 31. Forecast 2020 opex (ex‐lease costs) unchanged at $12/boe and full year capex (including abex) guidance now $315 million, reflecting full year savings and deferrals of over $250 million. Blair Thomas, currently CEO of EIG, will be the Chairman of the Combined Group from completion. Martin Copeland ERCE has prepared an independent CPR on the Chrysaor assets, which will be included in full in the Prospectus that is expected to be published later today. Subscribe to RSS, Update on proposed merger with Chrysaor and change of name, Proposed merger of Premier and Chrysaor Holdings Limited and the reorganisation of Premier’s existing finance arrangements, 2017 Equity and Synthetic Warrants Prospectus, Simon Henry (Senior Independent Non-Executive Director), Anne L Stevens (Independent Non-Executive Director), Anne Marie Cannon (Independent Non-Executive Director), G. Steven Farris (Non-Executive Director). Richard Rose, Finance Director With longstanding investments in technology coupled with the ingenuity of our people, we are well positioned to continue to responsibly meet the demands of a more prosperous world. (E) Simon Henry (Senior Independent Non-Executive Director designate) Exploration activity in the Beryl area Tertiary play has been positive so far with two successful wells drilled on the Solar and Corona prospects. Prior to joining Apache, Steve was vice president, finance and business development, of Terra Resources, a subsidiary of Sempra Energy. (D) G. Steven Farris (Non-Executive Director designate) G) Anne Marie Cannon (Independent Non-Executive Director designate) He joined the Board at Lloyds Banking Group in 2014 and Chaired the Audit Committee for three years before resigning from the Board at the end of September 2020. He became CFO and a member of the Board of Royal Dutch Shell plc in May 2009. Anne will serve as chairman of the Remuneration Committee from completion of the Merger. He provides advisory services to a venture capital company through Oxford Sciences Innovation. He has since developed a portfolio of non-executive and advisory roles, in both the public and private sector. The Total-operated Elgin Franklin area averaged 19 kboepd (net), ahead of expectations with the fields benefitting from very high production efficiency and an ongoing infill drilling and well intervention programme. Premier Oil plc Feb 23rd, 2021. DuPont Positioned as Premier Multi-industrial Company, Equipped for Growth and Value Creation, following Completion of IFF and Nutrition & Biosciences Merger Greater Britannia Area averaged 40 kboepd (net), benefitting from excellent uptime and better than expected well performance from the Brodgar satellite field. Seven Generations shareholders will receive 1.108 common shares of ARC. See here for all details of the Transaction. Fully‐carried two well appraisal programme planned for 2021, Premier continues to assess the potential of the resources associated with the Sea Lion project (Falkland Islands) which represents a material opportunity for the Group, Highly encouraging results from new 3D seismic data sets in Mexico and Indonesia. Sign up for Email Alerts Premier oil said following receipt of notice from the Oil and Gas Authority (OGA), the regulatory condition to the transaction regarding Premier's and Chrysaor's licence interests in the UK had been satisfied. In the Whitecap/NAL deal, less than 1% of the production was jointly owned prior to the merger. The publication of the Circular and Prospectus marks an important milestone for the Transaction which is expected to complete by the end of the first quarter of 2021, as previously guided. ARC Marine has a grant from Innovate UK to build artificial habitats around offshore constructions. Chrysaor has provided Premier with the following update on its trading and operational activities for the first 11 months of the year and guidance for 2021: Enquiries In addition, the Combined Group is expected to generate sufficient free cash flow to support shareholder returns including via a sustainable dividend which, subject to market conditions and Board approval, is expected to be introduced with respect to the financial year ending December 2021. Premier Oil to rejoin UK offshore just in time for oil price surge World Oil 14:57 23-Feb-21 Premier Oil to Re-Emerge on U.K. Market Just as Crude Soars BNN Bloomberg 14:25 23-Feb-21 Premier Oil gets regulatory approvals for merger with Chrysaor ShareCast 13:33 23-Feb-21 He is a Fellow and member of the Advisory Panel of CIMA (Chartered Institute of Management Accountants), and a Trustee of the Cambridge China Development Trust. This reflects new production from Premier’s operated Tolmount gas field (due on-stream in Q2 2021) offset by natural decline and maintenance shutdowns deferred from 2020. In 2002, Phil set up CH4 Energy with two ex-colleagues where he was joint managing director. This includes the tariff to be paid for the Tolmount infrastructure. ARC Resources has agreed to … Premier-Chrysaor merger gets blessing from regulators and anti-trust bodies London-listed Premier Oil’s reverse takeover by Chrysaor is on track to complete on March 31. by Mark Lammey (B) Phil Kirk (President; Chief Executive Officer, Europe designate) During her 29 years with the company, she held positions including CEO of Shell Gas and Power (London); CEO of Shell Canada Limited (Calgary); executive vice president Strategy and Finance for Global Exploration and Production (The Hague); and various US Exploration & Production management, operational and engineering roles. Paul Betts “We are pleased to have received majority unitholder approval of the merger of TC PipeLines into TC Energy,” said François Poirier, TC Energy’s President and Chief Executive Officer. She is currently the deputy chair of the board of Aker BP ASA, a non-executive director of Aker Energy AS, a non-executive director of STV Group plc and chairs the remuneration committee of STV Group plc. Blair also served in the administration of President George H. W. Bush as an advisor on energy and budget policy. She was the recipient of various awards including the Shingo Prize for Leadership and the Eli Whitney Award from the Society of Manufacturing Engineers, resulting in her being honoured by the Automotive Hall of Fame. Chrysaor expects total 2021 capital expenditure to be in the range of $750-850 million, principally relating to drilling and development activities at J-Area, AELE, Beryl and Buzzard field, and including c. $170 million for decommissioning (pre-tax relief). In addition to responsibility for all financial activities of the company, he was responsible for Strategy, Planning and Information Technology, and acted as Regional Executive Director for Asia Pacific with specific oversight of new business development in China. Simon spent 35 years in an executive career with Royal Dutch Shell plc, retiring as CFO and Executive Director in March 2017. The Transaction is subject, amongst other things, to Premier shareholder and creditor consents and regulatory approvals. Harbour Energy’s Board will also include, from completion: It is expected that the three additional independent non-executive directors will be announced prior to completion. in Materials and Mechanical Engineering from Drexel University in 1980 and was elected to the National Academy of Engineering in 2004. He is also a past co-chair of the OGA UK Exploration Board, one of six boards responsible for driving the industry’s response to the OGA’s MER UK (Maximising Economic Recovery) strategy, and he is a Fellow of the Energy Institute and a member of the Society of Petroleum Engineers. "Following the positive creditor vote on 22 February, the Transaction remains subject to sanction by the Scottish Court of the restructuring plans expected to take place on 19 March," Premier Oil said. The following is a list of award recipients of Premier Volleyball League, a collegiate women's volleyball league in the Philippines founded in 2004 (as Shakey's V-League). Anne Marie is currently a member of Premier’s Audit and Risk Committee, the Nomination Committee and the Remuneration Committee. Simon was born in the UK in 1961 and joined Shell after graduating in Mathematics from Churchill College, University of Cambridge in 1982, initially working as an engineer at Stanlow refinery in the UK. He is also a member of board of PetroChina, where he is a member of the Investment and Development Committee. He holds bachelor’s degrees in history and accounting from Oklahoma State University. Premier has retained significant growth optionality within its portfolio, Zama (Mexico) unitisation and development plan negotiations progressing with Pemex, Tuna (Indonesia) farm‐out agreement signed with Zarubezhneft in September. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. Tangerine Life Insurance Limited, (previously known as Metropolitan Life Insurance Nigeria Limited), has, after a meticulous process, concluded its merger with ARM Life PLC. Premier Oil and Chrysaor could complete their proposed merger on March 31. She received a B.S. Phil has a BSc in Mathematics from Warwick University. In December, Chrysaor sanctioned the LAD infill development well at Everest East with drilling scheduled for Q3 2021. After qualifying as a chartered accountant with Ernst & Young in 1991, he joined Hess in 1996 where he served a variety of roles including head of finance, North West Europe. Drilling has now been paused and further wells and side-track activity will wait until after the Phase 2 wells have been brought onto production, now expected in December 2021. Premier provides the following update in relation to its trading and operational activities for the first 11 months of the year and guidance for 2021: Premier also notes that Tony Durrant stepped down from the Board of Directors on 16 December 2020. The Combined Group will have a lower carbon intensity than the average UK oil and gas producer, with targets in place for further improvements, and a commitment to achieving ‘Net Zero’ greenhouse gas emissions by 2035. Premier also issues an update on its and Chrysaor’s trading and operational activities for the first 11 months of the year and reports 2021 guidance for both companies. It will be a resilient business with competitive operating costs. Following receipt of notice from Britain’s Oil and Gas Authority, the regulatory condition concerning the two companies’ UK offshore license interests is now satisfied. Also, the company has received anti-trust approval in relation to the merger from the Mexican Economic Competition Commission. Premier oil said following receipt of notice from the Oil and Gas Authority (OGA), the regulatory condition to the transaction regarding Premier's and Chrysaor's licence interests in the UK had been satisfied. Chrysaor’s operating costs (including net tariff costs) for the 11 months to the end of November averaged $11.4/boe. As previously announced, Linda Cook will be CEO of Harbour Energy and Phil Kirk will be President and CEO Europe from completion. Chrysaor expects first production from the Callanish F5 well in Q1 2021. +1 212 687 8080. 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