Harbour Energy acquires LLOG assets in the US Gulf of Mexico
Harbour Energy acquired assets from LLOG in the US Gulf of Mexico, contributing to a strong start to the year and an increased production outlook for Harbour Energy.
Counterparts (2)
Deal Analysis
- Harbour Energy acquires assets from LLOG.
- Assets located in the US Gulf of Mexico.
- Expected to increase Harbour Energy's production outlook.
- Aligns with Harbour Energy's strategy for a diversified portfolio.
Source Intelligence
Harbour Energy also acquired Waldorf in the UK. Quote: "The earlier outlook had excluded the impact of its acquisitions of Waldorf in the UK and LLOG in the U.S." Harbour Energy announced the sale of its Indonesian assets. Quote: "as well as the announced sale of its Indonesian assets." Harbour Energy raised its 2026 production forecast to 475,000-500,000 barrels of oil equivalent per day. Quote: "Harbour expects 2026 production of 475,000-500,000 barrels of oil equivalent per day, compared with a prior estimate of 435,000-455,000 boepd." Harbour Energy's prior 2026 production estimate was 435,000-455,000 boepd. Quote: "compared with a prior estimate of 435,000-455,000 boepd." Harbour Energy posted $2.8 billion in profits before taxation in 2025. Quote: "Harbour posted $2.8 billion in profits before taxation in 2025, up from $1.2 billion a year prior." Harbour Energy posted an after-tax loss of $182 million for the year ended December 31, 2025. Quote: "Harbour posted a deeper after-tax loss of $182 million for the year ended December 31, 2025, widening from a year-ago loss of $93 million" Harbour Energy's tax bill more than doubled to $2.98 billion. Quote: "as its tax bill more than doubled to $2.98 billion from $1.31 billion a year earlier." Harbour Energy adopted an updated distributions policy. Quote: "Harbour has adopted an updated distributions policy which links shareholder returns directly to free cash flow, allowing it to prioritise debt reduction when leverage is above its target, the company said on Thursday."
"Harbour Energy raised its 2026 output outlook on Thursday, citing a strong start to the year helped by early contributions from its newly acquired LLOG assets in the Gulf of Mexico."
"early contributions from its newly acquired LLOG assets in the Gulf of Mexico."
Global Infrastructure Sherpa