STOCK WATCH

PREMIER Oil rose after announcing it will sell its stake in Western Europe’s largest onshore oilfield for around £115.8m to an un-named buyer.

The sale of its stake in Wytch Farm in Dorset forms the latest step in Premier’s attempts to pay down its £2.1bn debt pile. Premier said the transaction will likely require shareholder consent.

It comes despite Premier increasing its stake in the massive field by 3.8pc to 33.8pc just last month. Shares rose 1.4pc, or 0.75p, to 55.5p.