Harbour Energy Share Price (HBR)

Always excellent to note, still even further reductions in HBR Short positions as evident once again here today, now this being the FIFTH consecutive/back to back rapid reduction by GLG Partners LP during the months of April and May (3, 4, 5, 16, April 2024 and now also on 09 May 2024).

Let the trend be your friend!

https://shorttracker.co.uk/company/GB00BMBVGQ36/

Here clueless any thoughts on the fact that astrazenica poison has been banned around the world

The rests will be next the only millions that was saved was in pension payouts

https://www.biologicalweapons.news/2024-05-02-arizona-gop-declares-covid-vaccines-biological-weapons.html

Any comment now coco

Post from ADVFN today:

Onlylongterm910 May '24 - 09:55 - 4646 of 4646

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Proactive Investors 09 May 2024

Harbour Energy ‘on-track’ to complete transformational Wintershall deal later this year

Harbour Energy PLC (LSE:HBR) told investors it is on track to complete its transformational acquisition of Wintershall in the fourth quarter of 2024.

The $11.2 billion deal was announced in December and will, when completed, add a catalogue of assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria.

It will create “one of the world’s largest and most geographically diverse” independent oil and gas companies – with a combined production profile of over 500,000 barrels per day.

Significantly for Harbour, which is the largest North Sea independent, it delivers a substantial diversification and eases exposure to the UK’s currently high fiscal regime for oil and gas.

Today’s trading update confirmed Harbour was producing 172,000 barrels oil equivalent per day in the first quarter of 2024. Its operating costs averaged $18 per barrel.

The company estimated $900 million of revenue for the quarter, after hedging for UK prices of $83 per barrel of oil and 69p per therm for gas.

It maintained guidance for capital spending, with first-quarter capex seen at $250 million and full-year spend expected to reach $1.2 billion.

Net debt halved compared to this time last year, reducing to $100 million at the end of March.

Harbour is to pay a final 13 cents per share dividend for 2023, which the company noted was inline with its previously stated plan to payout $200 million for the year. The payment will be paid on 22 May.

In terms of the Wintershall countdown, Harbour noted that it had made significant progress on the various workstreams and approvals required to complete within its timeline.

Notably, it confirmed that it had executed necessary hedging (predominantly for oil) for the anticipated 2025 and 2026 production, in order to de-risk near-term cash flow.

“During the first quarter, we continued to deliver safe and responsible operations, maximize the value of our UK production base and advance our organic growth projects,” Harbour chief executive Linda Cook said in a statement.

“At the same time, we made significant progress towards completion of the Wintershall Dea acquisition which will transform our portfolio and capital structure and support enhanced and sustainable shareholder returns."

Also, UK Gas prices on the up.

https://www.thisismoney.co.uk/money/markets/article-13401077/amp/MARKET-REPORT-North-Sea-giant-Harbour-closes-9bn-German-deal.html

North Sea giant Harbour closes in on £9bn German deal

British companies, one by one, are being plucked off the London stock market by foreign predators.

But two deals suggest the siege is not all one-way traffic.

North Sea producer Harbour Energy is closing in on a near-£9billion takeover in a swoop on most of the oil and gas assets owned by Germany’s Wintershall Dea.

The acquisition, which was announced in December, has now been approved by Germany and Norway and should be completed in the final three months of 2024.

Harbour also said it expects production to double after the deal, making it a major global player.

NSS

35% signed up before issuing the prospectus is pretty high. PIs and most II investors have not yet had the opportunity to vote to support the deal