- Premier Oil confirmed that it was looking at acquiring assets in the North Sea while responding to press speculation that it eyeing Chevron's assets there.

'Premier will continue to look at opportunities to acquire UK North Sea assets in line with the group's stated strategy,' the company said.

'There is no guarantee that the group will bid in any process or that any process will complete.'

The Sunday Times had reported earlier that Premier was mulling a capital raising to bid for the Chevron assets, which the report said could be worth $1.5bn.

'Specifically, no firm decision has been taken to bid for all or any of the assets currently being marketed by Chevron and how, in the event that the group were to be successful, the acquisition of such assets would be financed,' Premier Oil said. At 9:10am: [LON:PMO] Premier Oil PLC share price was -7.75p at 71.7p

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