Harbour Energy enjoyed a “transformational year” as its results began to show the benefits of its acquisition of Wintershall Dea, it reported January 23.
CEO Linda Cook said the transaction delivered “a step change in our scale and geographic diversification, improving our margins, increasing our reserve life and expanding our resource base significantly.”
Production was split 40% liquids, 45% European gas and 15% non-European gas and unit operating costs averaged $16.50/barrel of oil equivalent, up ten cents on the year. European gas is the highest priced but the profits on UK production face heavy taxes.
New production from the UK came from Talbot, Greater Britannia and the Armada, Esmond, Everest and Erskine fields. It also reported success at infrastructure-related wells in the North Sea including Jocelyn South. The latter is due on stream this quarter. It is however exiting the Camelot licence.
https://www.harbourenergy.com/
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