Premier sells oilfield stake

Premier Oil has struck a deal to sell its 33.8% stake in the Wytch Farm oilfield on England’s south coast to Verus Petroleum for £150.6million.

Aberdeen-based Verus is a UK-focused independent exploration and production firm backed by Norwegian private-equity investor HitecVision.

Premier said the sale was an “excellent opportunity” to realise an attractive valuation.