Harbour Energy Boosts Production Forecast Post Wintershall Dea Acquisition

Harbour Energy, Britain's largest North Sea oil and gas producer, has raised its 2024 production forecast slightly following its acquisition of Wintershall Dea's non-Russian assets. The acquisition, finalized in September, positions Harbour as a leading independent producer globally, with increased production output.

Britain's Harbour Energy has modestly increased its 2024 production forecast to reflect the impact of acquiring oil and gas assets from Wintershall Dea. The revised forecast places anticipated production between 255 and 265 thousand barrels of oil equivalent per day (kboepd).

This adjustment includes approximately four months of output from the newly acquired upstream assets. The acquisition, valued at $11.2 billion, involved co-owners BASF and LetterOne and aims to establish Harbour Energy as a leading independent oil producer globally.

Post-acquisition, Harbour Energy elevated its production expectations from an earlier forecast of 155-165 kboepd, underscoring the strategic significance of the Wintershall Dea assets in its portfolio.

(With inputs from agencies.)