Harbour Energy - Dea's CO2 capture and storage licences in Europe.31 Aug 2024 21:52
Harbour Energy (HBR.L PMOIF PQQ0.F) announced that it now expects to complete the acquisition of the Wintershall Dea asset portfolio in early September, versus previous guidance of early in the fourth quarter. This follows considerable progress being made on satisfying the conditions to completion, including recent receipt of Mexico regulatory consents. The acquisition, which is said to be transformational, includes all of Wintershall Dea's upstream assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria, as well as Wintershall Dea's CO2 capture and storage licences in Europe. The acquisition will add 1.1 billion barrels of oil equivalent of 2P reserves at around $10/barrel of oil equivalent and more than 300,000 barrels of oil equivalent per day of production. Harbour hence becomes one of the world's largest and most geographically diverse independent oil and gas companies.