ADVFN - Advanced Financial Network.
HOME» NYSE » B » BP Stock Price » BP Stock News

Bp Share News

 Bp P.l.c. Stock Price
BP Stock Price
 Bp P.l.c. Stock Chart
BP Stock Chart
 Bp P.l.c. Stock News
BP Stock News
 Bp P.l.c. Company Information
BP Company Information
 Bp P.l.c. Stock Trades
BP Stock Trades

Premier Oil Rebuffs Two Recent Takeover Offers from Ophir Energy -Sources

By Selina Williams LONDON U.K.-listed oil and gas explorer Premier Oil PLC has rebuffed two recent takeover offers from its peer Ophir Energy PLC, according to people familiar with the matter, stymieing a deal that would have created a company worth GBP3 billion with assets in East Africa, the North Sea, Vietnam and the Falkland Islands. Premier's most recent all-share offer for Ophir was rejected around two weeks ago, one of the people said. The first offer from Ophir came days after Premier's Chief Executive Simon Lockett said in February that he would be stepping down after nine years at the helm of the company, the people said. A successful tie-up would have created the fifth-largest London-listed oil and gas company after BP PLC, Royal Dutch Shell PLC, BG Group PLC and Tullow Oil PLC. But given that the second offer was "robust," it was unlikely there would be another bid, said one of the people familiar with the matter. Africa-focused wildcatter Ophir Energy, headed by former Goldman Sachs banker Nick Cooper, has been seeking to acquire a company with oil production to increase its cash flow. A merger with Premier, which produced 582,000 barrels of oil equivalent a day last year, would have been attractive for Ophir, giving it funds to spend on drilling costly deep water exploration wells and opening up new areas. Ophir has had major exploration successes, notably a big gas find in 2012 off the coast of Tanzania--one of the oil industry's hottest new areas. A deal could in turn have helped to shore up Premier, whose shares have fallen around 11% in the past year. Investors once viewed Premier as a solid company with dependable production growth, but have become disappointed with the company following its 2012 entry into the technically challenging Sea Lion project in the Falkland Islands. That project will cost an estimated $5.2 billion to develop, funds some shareholders would prefer to have seen returned to them. Write to Selina Williams at selina.williams@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Bp (BP)
DateTimeHeadline
08/28/201414:17:01European Stocks Hit by Renewed Ukraine Tensions -- 3rd Update
08/20/201417:41:52ADR Shares End Mixed; Luxottica Shares Active
08/19/201405:21:57LONDON MARKETS: U.K.'s FTSE 100 Climbs For Fifth Day After Inflation...
08/19/201404:04:07LONDON MARKETS: U.K.'s FTSE 100 Climbs For Fifth Day Ahead Of...
08/12/201412:39:22LONDON MARKETS: Prudential Shares Rise In Flat Day For FTSE
08/12/201407:45:35LONDON MARKETS: Prudential Shares Rise In London After Dividend...
08/11/201412:49:43LONDON MARKETS: U.K. Stocks Rise; Rio Tinto Among FTSE Leaders
08/11/201411:09:17LONDON MARKETS: U.K. Stocks Rise As Geopolitical Tensions Ease
08/08/201413:00:07LONDON MARKETS: FTSE 100 Logs Weekly Loss, Hits Four-month Low
08/08/201412:58:12LONDON MARKETS: FTSE 100 Heads To Weekly Loss, Fourth-month
08/08/201409:58:39BP Recalls Australian Trucks After Deadly Crash
08/06/201418:55:33CST Brands to Acquire General Partner of Lehigh Gas Partners
08/04/201407:51:25LONDON MARKETS: HSBC Shares Lead Climb In U.K. Stocks
08/04/201407:21:01BOE Policy Maker Spencer Dale to Join BP
07/31/201408:17:42LONDON MARKETS: Shell's Gain Curbs Losses For The FTSE 100
07/31/201403:53:55LONDON MARKETS: Shell Boosts FTSE 100 After Earnings Double
07/30/201412:21:53EUROPE MARKETS: Peugeot, Barclays Among Major European Movers...
07/30/201412:12:15EUROPE MARKETS: Russia Sanctions Hit Europe Stocks, But Spain...
07/30/201405:10:05Total to Review Russia Sanctions
07/30/201404:27:17Total Avoids Investor Ire Over Russia Business, So Far -- Market...

Bp and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad