Change of Strategy ? Waiting for the 220p again ?2 Dec 2024 11:42
Published 29 November 2024, 13:51
Harbour Energy is looking to rebalance its global portfolio to an even oil and gas split as it seeks out more operational control and enhanced reserves life in its pursuit of an investment-grade credit rating, the company told investors on Friday.
The London-listed company has grown rapidly through merger and acquisitions over the last ten years to become the UK’s largest independent, growing from a UK-focused company to one with a global portfolio following its third quarter acquisition of Wintershall Dea’s upstream portfolio.
Looking ahead to the next phase of growth, Harbour’s head of investor relations, Elizabeth Brooks, told investors on Friday that the company would target both organic investment opportunities from its existing 1. 8 billion barrels of best estimate contingent resources as well as M&A. Meanwhile, a US listing has been ruled out given that Europe remains the “centre of gravity” for the company.