How long did it take to pay that 2.7bn? But that was fine as they had no choice. Why on earth take on 4bn plus debt now? More than what the company is worth...very risky at a time when price of oil is tumbling is a recipe for disaster.
Why not carry on for a few years with the plan thats actually worked? With increasing divi payments?
Disgraceful management |
Plz tell us why it can't be paid, when pmo was taking over Hbr had debts of 2.7m and cleared, so why this time not feasible, you are whining cretin and your lecturing us on our investments when you bought at 600p, is ludicrous,see the irony |
I think you're right but the recent transaction taking on billions of pounds of unpayable debts was shooting our selves in the face heart and brain.
600p not before 2030. |
As a shareholder from premier oil days it is indeed frustrating to not get to the 600p area. But if HBr hadn't done the transaction with PMO, PMO probably would have defaulted and be worthless.HBR did have a fair crack at the 550p area but was cut down by the EPL and sent back to square one. It has another chance to have a go with the WD transaction and the key to an improved share price will be the repayment of the WD bonds, which are cheap as chips at the moment. 600p is not impossible but it's going to be a few years yet. |
Oh great more positive articles. I always do the opposite when these articles pop-up non stop. This strategy has served me well.
Desperate to ramp up the company. |
 interactive investors 09 September 2024
Insider: directors do deals at Harbour Energy, BP and Aviva
The elevation of Harbour Energy (LON: HBR) into the big league of global oil and gas independents has been marked by one of its senior directors doubling his stake in the FTSE 250 company.
Former Shell (LON: SHEL) finance boss Mike Henry’s investment of £58,000 took place a day after Harbour completed its transformational acquisition of upstream Wintershall Dea assets.
The $11.2 billion deal added material positions in Norway, Germany, Argentina, Mexico and North Africa, trebling Harbour’s production to about 475,000 barrels of oil equivalent per day.
Harbour, which last year delivered 15% of UK oil and gas production, now has Woodside, US-based Hess and Aker BP in its peer group rather than smaller Energean or Murphy Oil.
It revealed the deal last year at a time when the introduction and subsequent extension of the government’s Energy Profits Levy had caused Harbour to review UK activities.
The Wintershall acquisition is the fourth in the company’s 10-year history, having acquired Chrysaor Holdings and a package of UK North Sea assets from Shell for $3 billion in 2017.
This was followed in 2019 by the acquisition of ConocoPhillips UK North Sea for $2.7 billion, making the company the UK’s largest oil and gas producer. In 2021, the all-share merger between Chrysaor and Premier Oil resulted in Harbour securing a London listing.
Following Tuesday’s completion of the Wintershall acquisition, the company is now owned 45.5% by Harbour's legacy shareholders, 39.6% by BASF and 14.9% by investment business LetterOne. Harbour’s net debt on completion is about $4.5 billion.
Harbour has reiterated its commitment to increase its annual dividend from $200 million to $455 million, meaning that shareholders can expect an approximate 5% increase from the 25 US cents a share paid in 2023 to 26.25 cents for 2024.
The deal has the support of Bank of America after it said this summer that shares deserve to be 450p, which compares with 273.7p at Friday’s close. The bank forecast a 2025 free cash flow yield of 25% based on Brent Crude at $80 a barrel and still above 20% at $70 a barrel.
It noted at the time that close peers Var Energi and Aker BP were trading at a 50% premium despite comparable cost bases and cash margin economics.
Bank of America added: “We see Harbour’s equity story transformed with the Wintershall deal: tripling production, diversifying the portfolio, lowering its cost base and ultimately delivering a step change in cash flow visibility.”
Henry, who is Harbour’s senior independent director, bought his 20,000 shares at an average price of 288.1p. It is his first purchase in almost two years, having previously picked up 10,000 Harbour shares in both August 2021 and October 2022. |
Oil up. Oil stocks up.
BP up
Centrica up
Hunting up
This bag of shtt down |
That's 👍.
I can only average down at 100p area. |
I'm still up, plus past dividends lol |
I'd have done the same spawny but I am down under and need an impossible 600p. If this hits 90p to 120p I'll add.
Yip you heard it here first this bag of shtt with multi billions of soul crushing debts will destroy this.
Even millicoscu balls are shrinking as I type this |
I'm out now. At this price debt is higher than market cap. Something doesn't seem right to me here so will watch from sidelines for now. |
I'm sorry to say this but I do think this will drift further snd further. Is it 4bn in debt they've taken on?
They were turning a corner and almost debt free from precious debts. But more acquisitions and debts is not the way. Disgraceful management. |
I think many have been surprised at the share price reaction to the concluded deal. You were correct spacedust so well called. If this is now as super cheap as many are saying why are we not getting director buys flooding in now deal is done? |
The poster seems to negate the additional debt taken on in the deal!! |
“I think the most valuable member of the FTSE 250 has just become the bargain of the millennium!” |
Spacedust is absolutely correct despite what the "experts" on here say. share price bobbing about at 270p to 300p for around 2 1/2 years, huge promises of "will rocket", hasnt. All bluster about mergers, Zama, Egypt blah blah blah. share price falls on good news almost every time. Fact is that HBR are a poorly managed company promoted and relegated from FTSE100 twice, yes twice. Still the rampers say 550p - 700p is coming. Need a management change for that. Most of these old duffers will be dead when that happens, if ever. HBR are really no better than a secong tier producer and that's where they are. Keep telling it as it is Spacedust. |
Keep posting fantastic news. The more good news the worse the share price gets. Fact.
I predict I'll be called deramper. Or something negative.
I predict I will be correct |
Excellent post on l s e site thanks to golden badger."HBR Possible Route5 Sep 2024 22:59UK future pending, 31st October Labour decision, if not favourable zero capex except maintenance in UK.HBR Holding approx 20 years of O&G , 2025, 2026, 2027 ALL Capex to be utilised into Development of Identified profitable production , zero into Exploration . We have sufficient 2P AND 2C presently .2025 Buy out 250m BASF shares at these low prices +- $1.0b , clean up Letter One position . April 25 total shares in issue 1440 m .2025 also reduce Debt by $1.5b to $3.0b . $500m will be saved on G& Admin alone .As with Premier rationalise supplier base achieving Economy of scale savings, probably only bankable 2026 .If Trump wins, oil price pressure downwards will be exerted , expand hedges to 160k boepd 30% of production . If possible in next 4 months .Reducing the net boe cost from $50 to $40 will require savings of $1.8b , which with consolidation at least $1.0b is feasible .While the above is happening the share price in 2025 will be around £4 with 7% divi .After 2025 this share i am confident will be a multi-bagger . Why ? we will list Stateside .Zero Debt , 1,0 b shares and $40 boe net cost on 500k production by 31/12/2027 should be the Goal .We have a Great Team and barring a myriad of potential obstacles they will deliver .Stay Strong and Stay Long" |
If this hits 200p I'll be adding. Since fantastic news this has been tanked badly from over 300p to 270p area |
No one gives a damn abut jefferies.
400p.target .....it's more likely to hit 250p than 400p this yr or next yr. |
Harbour Energy in favour as it 'breaks free' from North Sea
Harbour Energy PLC (LSE:HBR) has received a bullish write-up from the US broker Jefferies following the completion of the asset acquisition from Wintershall Dea.
Describing it as "transformational", Jefferies says the deal has created a virtually unique "large, global independent oil & gas company" investment case with an expected investment grade balance sheet, FTSE100 inclusion & "broad set of growth options".
Crucially, it also reduces its exposure to the UK North Sea and its problems, says Jefferies, and makes it one of the big three players in European exploration and production alongside Norway-focused Aker BP and Vår Energi.
Wintershall Dea is also Harbour’s fourth material M&A transaction since 2017 (each roughly two years apart), which the bank sees as part of a coherent strategic growth plan that has also included, operational improvement after each deal, balance sheet deleverage and material direct shareholder returns.
“All of which, crucially, sets the company up for the next potential growth deal.”
Buy with a 400p price target is the recommendation.
Enquest, Serica Energy and Ithaca, Harbour’s peers, are yet to “break free” from the North Sea adds Jefferies. |
Also owning 46.5% is a blocking holding if at any time in the future another oil company wishes to take over Harbour. |
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