Harbour Energy plc is an independent oil and gas producer listed on the London Stock Exchange under the ticker HBR and registered in Scotland, with its head office at 151 Buckingham Palace Road in London. The company was formed in 2021 by combining Chrysaor Holdings with Premier Oil, and its purchase of Wintershall Dea's upstream portfolio in 2024 turned a North Sea operator into a group producing on several continents. Linda Z Cook is chief executive.
How the portfolio is organised
Norway is the largest part of the business, spread across the Skarv, Gjoa and Aasta Hansteen hubs; Harbour describes itself as the largest international independent oil and gas company in Norway, with several routes into European gas markets. In the UK the group operates the Greater Britannia Area, the J-Area, AELE, the Catcher Area, Tolmount and Solan, and holds non-operated interests in Elgin/Franklin, Buzzard, Clair, Schiehallion and the Beryl Area, with smaller positions in the East Irish Sea, Galleon, Ravenspurn North and Johnston.
Germany is built around three production hubs: Mittelplate, described by Harbour as the country's largest oil-producing field, Langwedel-Holtenbuttel and Gas Nord, which includes the Volkersen gas field, and the Emlichheim heavy oil field. The group also produces in Argentina, Mexico and North Africa, where its Egyptian position makes it one of the main suppliers of gas into the domestic market, and in Southeast Asia through Andaman Sea discoveries following its exit from Indonesia.
Record first half and higher returns
Results for the six months to 30 June 2026, published on 6 August 2026, showed record production of 509 thousand barrels of oil equivalent per day, 4% above the 488 kboe/d of the first half of 2025, after new wells came on stream in the United States, Argentina and Norway. Revenue rose about 20% to USD 6.4 billion, reported EBITDAX was USD 4.4 billion and adjusted EBITDAX USD 4.5 billion, and free cash flow reached USD 1.8 billion.
Net debt and leverage at the period end were USD 5.4 billion and 0.7 times respectively, after paying for the LLOG acquisition, and the company refinanced part of its debt on improved terms while keeping investment-grade ratings from all three agencies. Harbour declared an interim dividend of 8.05 cents per voting ordinary share, equal to about USD 150 million, within a minimum annual dividend policy of 16.10 cents, and announced a new USD 250 million share buyback. It raised full-year production guidance to 490,000-500,000 barrels of oil equivalent per day and its free cash flow outlook to about USD 1.8 billion, with capital expenditure reiterated at USD 2.2-2.4 billion and operating costs of about USD 14.50 per barrel.
The deals that reshaped the group
Harbour completed its entry into the US Gulf of America on 11 February 2026, buying LLOG Exploration Company from LLOG Holdings for USD 3.2 billion, made up of USD 2.7 billion in cash and USD 0.5 billion in Harbour shares. LLOG brought a fully operated, oil-weighted portfolio including the Who Dat and Buckskin production hubs and the Leon-Castille start-up, and became a fourth core business unit alongside Norway, the UK, Argentina and Mexico. In the UK, Harbour completed the acquisition of substantially all the subsidiaries of Waldorf Energy Partners and Waldorf Production for USD 163 million on 10 July 2026. On the disposal side, the sale of its operated interests in Indonesia's Natuna Sea Block A and the Tuna project completed on 26 May 2026, following the earlier exit from Vietnam.
Projects, exploration and Mexico
Norway delivered two start-ups in 2026: first gas at the Dvalin North subsea development on 1 July 2026, ahead of schedule, and production from the Alve Nord and Idun Nord fields in the Norwegian Sea on 26 August 2026. Harbour and its partners approved the Who Dat East development in the Gulf of America on 20 August 2026, and subsea projects tied to the Gjoa hub were sanctioned. Exploration added the Omega Sor discovery in Norway, which the operator is fast-tracking, nine licences in the 2025 Norwegian APA round, four of them as operator, and twelve leases won as operator in the US bid rounds.
In Mexico, Harbour was appointed operator of the Zama oil field at the end of 2025 and also operates Kan, with partner alignment strengthened by Grupo Carso increasing its participation in both projects as development concepts are optimised. In Argentina the group holds 15% of the Southern Energy floating LNG export venture, which is targeting start-up at the end of 2027 and would give Harbour's Vaca Muerta gas access to global markets.
Carbon storage
Alongside upstream production, Harbour has built a European carbon capture and storage position. The Ineos-operated Greensand project in the Danish North Sea achieved first injection of CO2 on 22 September 2026, which Harbour describes as the EU's first full-scale storage site. The company reports a greenhouse gas intensity of about 13 kilograms of CO2 equivalent per barrel of oil equivalent and has an interim target to halve emissions by 2030 against 2018 levels, with further storage projects in its portfolio.