•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    RBC Capital Markets comments on Premier Oil CEO appointment

    RBC Capital Markets

    Following the appointment of Tony Durrant as CEO of Premier Oil, Nathan Piper, an analyst with RBC Capital Markets, made the following comments on the executive change:

    “In our view, Tony Durrant's appointment as CEO, validated by an extensive internal and external search process, makes sense. It allows the company to continue to focus on delivering its revised strategy outlined at the February Capital Markets Day that has seen the share price increase over 20% since the lows of early February. Near term, we anticipate limited changes to this strategy.

    Tony Durrant appointed chief executive of Premier Oil: The board of directors has announced the appointment of Tony Durrant as chief executive of Premier Oil with immediate effect. Tony joined Premier in 2005 serving as finance director, prior to which he was head of the European Natural Resources Group at Lehman Brothers. The appointment follows the announcement on Feb. 4 when Simon Lockett announced his intention to step down as CEO.

    Delivering on 2014 strategy: Following a difficult 2013, Premier has established a clear strategy this year, elements of which include 1) achievable production targets (currently producing 3-4kboe/d ahead of guidance), 2) commitment to farm down Sea Lion (interested parties requested early look at data, ahead of in-depth data room later in 2014), 3) return value to shareholders through buybacks and dividends, 4) $300 million non-core asset sales, 5) complete refinancing (expected imminently), and 6) a disciplined approach to exploration spend.

    Search for new finance director begins: Following the appointment of Tony Durrant, we understand the company will look to find a replacement finance director shortly with some potential candidates already identified.”

     

     

    Related Articles

    Lloyd’s Register Energy names Pohorski SVP

    09/16/2014 Lloyd’s Register Energy has appointed Joanna Pohorski senior vice president, compliance services, for Lloyd’s Register’s Energy business, reporting directly to the energy director John Wishart.

    Par Petroleum updates on senior management changes

    09/16/2014 Par Petroleum Corp. reports the retirement of Par’s COO, Peter Coxon, who will retire at year’s end but has stepped down from his role as COO of Par and as president of its subsidiary, Texadian Ene...

    Sterling Global Operations names director to work with oil and natural gas companies

    09/15/2014

    Sterling Global Operations has named Ian Pilcher as director of commercial accounts.

    REISA changes name to ADISA

    09/15/2014

    REISA, a trade association serving the alternative investment and securities industry, will change its name to the Alternative and Direct Investment Securities Association (ADISA).

    Miller makes management changes, looks to acquire Alaskan assets

    09/15/2014 Miller Energy Resources Inc. has made changes to its senior leadership team as part of a corporate shift that will include the potential MLP-monetization of its midstream assets. Additionally, the ...

    More Oil & Gas Financial Articles

    Lloyd’s Register Energy names Pohorski SVP

    Tue, Sep 16, 2014

    Lloyd’s Register Energy has appointed Joanna Pohorski senior vice president, compliance services, for Lloyd’s Register’s Energy business, reporting directly to the energy director John Wishart.

    Par Petroleum updates on senior management changes

    Tue, Sep 16, 2014

    Par Petroleum Corp. reports the retirement of Par’s COO, Peter Coxon, who will retire at year’s end but has stepped down from his role as COO of Par and as president of its subsidiary, Texadian Energy Inc., effective Sept. 8, to facilitate a transition of responsibilities.

    Sterling Global Operations names director to work with oil and natural gas companies

    Mon, Sep 15, 2014

    Sterling Global Operations has named Ian Pilcher as director of commercial accounts.

    REISA changes name to ADISA

    Mon, Sep 15, 2014

    REISA, a trade association serving the alternative investment and securities industry, will change its name to the Alternative and Direct Investment Securities Association (ADISA).

    Miller makes management changes, looks to acquire Alaskan assets

    Mon, Sep 15, 2014

    Miller Energy Resources Inc. has made changes to its senior leadership team as part of a corporate shift that will include the potential MLP-monetization of its midstream assets. Additionally, the company has signed a non-binding letter of intent to purchase substantially all the operating assets of Buccaneer Energy in Alaska.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ