Premier Oil announced that its all-share merger with Chrysaor and the reorganization of Premier’s existing debt and cross-currency swaps has been completed. Further, Premier has changed its name to Harbour Energy.
At completion, the shares in Harbour Energy were owned approximately as follows:
EIG Global Energy Partners 36%;
Former EIG shareholders 33%;
Former Premier creditors 18%;
Chrysaor legacy investors 8%; and
Former Premier shareholders 5%.
EIG Global Energy Partners’ shares in Harbour Energy are subject to a 12-month lockup from completion. Shares held by certain former EIG shareholders and certain Chrysaor legacy investors, representing approximately 40% of Harbour Energy, are subject to a six-month lockup from completion.