Safer Harbour for Premier shareholders21 Mar 2021 12:36
There aren’t many direct competitors at the 200,000 boepd level. Aker BP (Nor:AKRBP) produces a similar amount, with a valuation of $9bn compared to Jefferies’ forecast of $5bn for Harbour, so offers some comparison.
One industry valuation metric – enterprise value per barrel of 2P, or proven and probable reserves – sees Aker BP at $15 a barrel and Harbour at $13 a barrel, according to Jefferies’s forecast opening share price of 30p. This is not far off smaller producer Tullow Oil (TLW), for example, which is valued at $12 a barrel using the EV/2P metric.
Once the first-half results are out, the costs and margins of the new company will be much clearer.