Harbour Energy Share Discussion Threads

[spawny100] 26/4/2024 10:05

I like this from the other board. Makes sense. A hint that the deal is nearly done?"RE: CEO PurchaseToday 07:3886055 on an old calculator is Bboss.She's sending a clear message that she's the Boss ?"

[luckyjoe999] 26/4/2024 09:53

Post from lse bb today:

theancientmarine
Posted in: HBR
Posts: 123
Price: 287.20
No Opinion
RE: Fantastic RNS! HBR CEO/Linda C. Buying More Shares Here & Clearly has Major Skin in the Game
Today 07:51

Shorts Closing CONSECUTIVELY, HBR Director's Buying CONSECUTIVELY, and as for today, Linda adding a further ~£250,000 worth of HBR shares to her already massive portfolio (even by CEO standards!) with Brent nicely trading at circa $90, now looking forward to the upcoming company AGM followed by the ~500,000+ bpd resulting Wintershall Dea mega merger by Q4 this very year!

[husbod] 26/4/2024 09:33

No doubt reflects her confidence that the transformative deal will go through.Fingers crossed.

[monkeybusiness1] 26/4/2024 07:25

Fantastic RNS Today! HBR CEO/Linda Cook Buying More Shares Here and Clearly has Major Skin in the Game:

“Harbour announces that Linda Z. Cook, Chief Executive Officer, has purchased 86,050 ordinary shares in the Company ("Ordinary Shares") at an average price of 285.5 pence per Ordinary Share.

As a result of this purchase, Linda Z. Cook has an interest in 8,603,532 Ordinary Shares, representing 1.117 % of the Company's issued share capital.”

[mickinvest] 26/4/2024 07:08

Interesting share purchase by CEO, roughly £250,000 spent when she already has plenty. The share price does seem a bargain with oil around $90.

[mickinvest] 26/4/2024 06:58

Thedudie

Point made is Net profit of $531m for the quarter.

Do you have the tax rate that enabled the above bottom line?

[thedudie] 24/4/2024 08:25

"They don't have onerous UK tax charge"

AckerBPs effective Tax rate is 75% / Q4 2023 was 92% / Q1 2023 was 90%

Seems similarly onerous to me.

[monkeybusiness1] 16/4/2024 11:39

Top ten crude oil upcoming fields in North America

1. Zama

Zama is located in the Gulf of Mexico, Mexico. This upcoming crude oil field is owned by BASF, Harbour Energy, LetterOne Holdings, Petroleos Mexicanos and operated by PEMEX Exploracion y Produccion. Production from this field is expected to begin in 2024 and is forecasted to peak in 2026 at approximately 0.13mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2053.



“Zama oil field is located approximately 60km off the coast of Tabasco, Mexico, in the Block 7 of Sureste Basin, Gulf of Mexico. Estimated to hold up to two billion barrels of oil-equivalent, it is considered to be one of the world’s biggest shallow-water oil discoveries in the past 20 years.”

[crystball1] 16/4/2024 11:19

Yes, they are well placed. What value is attached to the Zama oil field? Would they have any interest in the North Falkland basin if this was developed?

[luckyjoe999] 16/4/2024 11:02

Post from lse bb today:

sittingduck11
Posted in: HBR
Posts: 22
Price: 292.00
No Opinion
Today 09:17

Harbour Energy - a review

To recap on managements performance and progress since Harbours inception -

1. Paid down over 90% of the debt, which amounted to 150% of the market cap. In doing so they have protected shareholders and the company. Oil could fall to $40, Harbour would survive thanks to this action.

2. Returned billions back to shareholders, introducing a sizable dividend that is comfortably covered by earnings and that continues to rise, AND bought back nearly 20% of the shares, returning more value to shareholders in a non taxable way.

3.Embarked on one of the boldest and ambitious takeover, buying a company five times their size, diversifying their portfolio all over the world which as well as offering shareholders protection from cowboy governments (no one saw the WF tax coming) will also significantly increase earnings.

Outstanding work, so far.

[luckyjoe999] 16/4/2024 07:37

Post from lse bb:

theancientmarine
Posted in: HBR
Posts: 120
Price: 289.50
No Opinion
15 Apr 2024 15:11

April 12 RNS - Consecutive HBR Director Buys

Now great to see the recent consecutive director Buy-Ins here:

"Harbour announces that Louise Hough, Independent Non-Executive Director, has purchased 6,800 ordinary shares in the Company ("Ordinary Shares") at an average price of 288.9 pence per Ordinary Share."

[onlylongterm9] 16/4/2024 07:28

Yahoo Finance, 15 April 2024
“Is a comeback on the cards for this FTSE 250 stock?”

Harbour Energy (LSE:HBR) is a FTSE 250 stock that looks set to re-join the FTSE 100 in 2024. Not because of exceptional growth in its share price but due to an impending deal that’s likely to transform the scale of its operations.

Although the transaction is still subject to shareholder and regulatory approval, both are expected to be forthcoming.

The largest energy producer in the North Sea has agreed to acquire the upstream assets of Wintershall Dea. The transaction will be funded through a combination of cash (£1.7bn), the issue of new shares (£3.3bn), and the taking on of debt (£3.9bn). Excluding the loan notes, the company is valued at £5bn.

Add this to Harbour Energy’s current market cap of £2.2bn and it should be enough to see it return to the premier league of listed companies. The company was previously relegated from the index in December 2022.

Under the proposed terms, the current owners of Wintershall will receive 921m new shares, bringing the total post-transaction number in issue to approximately 1.69bn. The share price should then be 426p — a premium of approximately 48% to its current value.

The deal is expected to increase Harbour Energy’s annual production by 2.5 times and improve its margin. Post-merger reserves should nearly quadruple.

[anhar] 15/4/2024 16:29

Sterling value of 2023 final US13¢ divi announced: 10.4434p

[luckyjoe999] 09/4/2024 16:07

Post from lse bb today:

Kokomo
Posted in: HBR
Posts: 389
Price: 296.50
No Opinion
Today 11:20

HBR Shorts Now Rapidly Closing Positions, Again!

Once again, always excellent to note, even further reductions in HBR Short positions as noted here today, now this being the THIRD consecutive/back to back rapid reduction by GLG Partners LP (3, 4, and 5 April 2024).

[ashkv] 08/4/2024 17:39

Per Full Year 2023 Results ->

"The Acquisition is subject to Harbour shareholder approval and we plan to publish a prospectus and shareholder circular setting out the details of the shareholder meeting to approve the Acquisition in the second quarter of 2024. Harbour has received irrevocable undertakings from shareholders which, as at 6 March 2024, represented c.35 per cent of our issued share capital to vote in favour of the acquisition."

[ashkv] 08/4/2024 17:37

Acquisition of Wintershall Dea Asset Portfolio

§ On 21 December 2023, Harbour announced the acquisition of substantially all of Wintershall Dea's upstream assets for $11.2 billion. The acquisition is subject to shareholder and regulatory approvals and is anticipated to complete in Q4 2024

- In Q2 2024, Harbour plans to publish a prospectus and shareholder circular which will include historical financial information and an independent valuation of 2P reserves for the Wintershall Dea assets. They will also set out the details of the shareholder meeting to approve the Acquisition

- As at 17 January 2024, Harbour had received irrevocable undertakings from shareholders currently representing more than 25% of its issued share capital to vote in favour of the acquisition

[ashkv] 08/4/2024 17:19

Fingers crossed HBR publish soon the merger prospectus as they had earlier guided for April 2024!!!

Depressing share price given where oil is :(

[luckyjoe999] 08/4/2024 08:27

Post from lse bb:

Kokomo
Posted in: HBR
Posts: 387
Price: 292.00
No Opinion
5 Apr 2024 18:42

Further Reductions In HBR Short Positions Noted

Always excellent to note, further reductions in HBR Short positions as noted here today, now this being the second consecutive/back to back reduction by GLG Partners LP (3 & 4 April 2024).

[monkeybusiness1] 05/4/2024 11:34

Today’s RNS - Harbour Energy Director shares purchases, which is always excellent to see:

“Harbour announces that Alan Ferguson, Independent Non-Executive Director, has purchased 10,000 ordinary shares in the Company ("Ordinary Shares") at an average price of 283.39 pence per Ordinary Share.

As a result of this purchase of Ordinary Shares, Alan Ferguson has an interest in 24,203 Ordinary Shares, representing 0.003% of the Company's issued share capital.”

[farmerjohn1] 05/4/2024 08:25

Slowly but now surely HBR Shorts have just started to close positions, and $90+ Brent in place should help bring about lot more closures here going forward:

[husbod] 29/3/2024 18:25

Can't blame LC for the cretinous EPL which has hit us and other North Sea oilers really hard.Enquest's results and comments were equally bad.I've been looking at Ithaca (used to be a holder many years ago and made some decent money) and they're looking at expanding their portfolio just like us except they are increasing their NS exposure which doesn't seem logical with the current tax regime.At least if our strategy comes off we will have assets outside the UK and LC will have pulled off a great deal imo.

[brazilnut1] 29/3/2024 14:43

So linda cook took a pay cut to 2.4m pa. What a shame. Talk about rewarding failure. Sickening for holders that share price has fallen 50% in 2 years.

[the millipede] 28/3/2024 09:38

Keep looking in here but you are right BB. UK oil and gas is currently uninvestable. Personally I think we will be lucky to be able to buy the power we need. Eg USA is currently pumping more oil and gas than any nation ever has….. and considering export bans. But this doesn’t mean any British govt will make a sensible decision about power. A generation of poor planning suggests the opposite IMO.