A British success story that the idiot politicians seem determined to undermine. |
S100 if they can't make it on oil and gas in the UK, might as well make it some other way. |
Presumably this lunatic idea would likely send some cash towards HBR given they claim "leading CO2 storage in Europe"? |
“The strategy is to transform reserves into resources, and resources into barrels.” Huh? |
 “A Success Story of Growth in the International Oil & Gas Sector”
Harbour Energy, founded in 2014 by private equity, has quickly established itself as a prominent player in the global oil and gas sector. Through strategic acquisitions and a robust growth strategy, Harbour Energy has built a diverse portfolio, expanded its international footprint, and achieved significant milestones, positioning itself as the largest UK oil and gas producer in 2023.
Harbour Energy’s growth trajectory is marked by several key acquisitions and mergers, all critical steps in expanding the company’s asset base and resulting in being listed on the London Stock Exchange. The most recent acquisition of Wintershall Dea’s assets in 2024 further solidified Harbour Energy's position as a leading global player. With assets in 11 countries, a production rate of 480Mboe/d, and 2P reserves of 1.5Bboe with a reserve life of eight years, Harbour Energy has created a sustainable and diverse portfolio. The company employs 5,000 people, including contractors, and prioritizes maximizing production value, progressing international growth opportunities, and maintaining financial discipline.
Gustavo Baquero, Managing Director and Country Chair, Harbour Energy Mexico, notes that the company’s ESG approach has also benefited from the company’s acquisitions. "With the acquisition of Wintershall Dea, we expanded our assets in Norway and Denmark, and gained key clients in Germany. This has positioned us with Europe’s largest SCC portfolio in terms of carbon capture capacity," Baquero highlights.
Harbour Energy has been active in Mexico since 2017, developing an extensive exploration and production portfolio with significant growth potential. The company's operations in Mexico include several key assets:
- Located in Tabasco, Ogarrio has been operated by Harbour Energy since 2018, holding a 50% stake with the other 50% owned by PEMEX. The field produces approximately 6.2Mboe/d. Harbour Energy is focused on optimizing the production base through workovers and infill drilling programs. The company is also evaluating secondary oil recovery projects, such as waterflooding, to enhance production. Additionally, Harbour Energy is committed to sustainable social programs, including health and education initiatives for local communities in Tabasco.
- Discovered in 2017 and located in the Sureste Basin, Zama is one of Harbour Energy's most significant projects in Mexico. The project is 50.4% owned by PEMEX, 32.2% by Harbour Energy, and 17.4% owned by Talos Energy. The unit development plan for Zama was approved in June 2023, and the front-end engineering design (FEED) began in 2024. A joint project team, with experts from all partners, is dedicated to successfully developing this project. The targeted oil plateau for Zama is approximately 180Mb/d, with recoverable oil volumes estimated at around 675MMb, according to Sylvain Petiteau, Vice President Zama Project, Harbour Energy. The capital investment for the project is projected to be about US$4.5 billion (pre-FEED estimate).
- In the Sureste Basin, Block 30 was the most contested block during Round 3.1 in 2018. It is 60% owned by Harbour Energy and 30% owned by Sapura Energy and OMV. The Kan discovery holds volumes between 200 to 300MMboe in place. An appraisal drilling campaign is ongoing in 2024, and the evaluation of development concepts is focused on creating a value-accretive, synergistic, and sustainable project.
- Operated by Hokchi Energy, a subsidiary of Pan American Energy (PAE), the Hokchi field is also located in the Sureste Basin. The project is 55% owned by Hokchi Energy, 17% by Harbour Energy, and 8% by AINDA. The field is currently producing approximately 23Mboe/d. A waterflood process started in April 2023, with seven injector wells now operational to stabilize production. Crude oil from Hokchi is transported to the onshore processing facility via a 24-km pipeline.
- In the Salina Basin, the Polok and Chinwol fields were discovered in May 2020. The Polok field holds volumes of around 722MMb, while Chinwol holds approximately 277MMb. The Polok and Chinwol fields are operated by Repsol, which holds a 30% stake, while Petronas holds 28.33%, Harbour Energy 25%, and PTTEP 16.67%. Polok is a play-opening field within the Early Miocene, and Harbour Energy is currently evaluating a floating production storage and offloading (FPSO) development option for the maturation of the Polok project to the next decision phase.
The company also holds exploration blocks in partnership with PEMEX. Following its acquisitions, Harbour Energy became Mexico's largest private company by reserves, with over 400Mboe awaiting development. In terms of net production, the company produced more than 12Mboe in 1H24.
Talking about the future of the industry, Baquero says development in Mexico’s offshore projects will now depend on collaboration between public and private entities. "We will need to come together and organize to ensure the barrels from the Mexican fields are fully developed. If projects like Zama and Trion are optimized and developed, along with others, it could provide a production base of nearly 600Mb/d, which is about a third of the country's current output. The upcoming period is crucial for making these investments, and it will be a significant time for the development of offshore reserves in Mexico,” he said.
Baquero highlights that current production levels have room for growth, given the substantial reserves and resources. The strategy is to transform reserves into resources, and resources into barrels. Harbour has the potential to exceed 100Mboe using its existing assets. According to Baquero, this could allow the company to multiply its production tenfold through organic business development. With headquarters' approval, the company could also expand further through additional acquisitions. "We know how to operate in Mexico, we know how to work onshore, and now we are proving our offshore capabilities with the drilling of Block 30. Ogarrio has been the proof of this," Baquero highlights. |
All oil stocks up oil up Even oil aim stocks up This dog down.
What is the excuse guys this time |
 Mexico's new president tells investors their money is safe
Mexico's new President Claudia Sheinbaum on Tuesday promised to protect the rights of investors as she took office as the country's first woman leader, following a backlash over recent judicial reforms.
"I say this very clearly, be assured that the investments of national and foreign shareholders will be safe in our country," Sheinbaum said in an inaugural speech in Congress.
She said that her government would "guarantee all freedoms" including those of expression, the press, assembly and movement.
The reforms enacted by Sheinbaum's predecessor and close ally Andres Manuel Lopez Obrador will make Mexico the world's only country to elect all judges by popular vote.
The changes, which critics argued would make it easier for politicians and organized crime to influence the courts, upset foreign investors as well as key trade partners the United States and Canada.
US Ambassador Ken Salazar warned that the reforms would threaten a relationship that relies on investor confidence in the Mexican legal framework. |
Here's a conundrum Assuming Israel now attacks Iran and the oil price rises further will this useless government conclude 1. North Sea oil companies are making too much profit so we will proceed with our planned increase in the tax or2. We need our own independent energy resources and use the war as a reason to ditch their economically illiterate policy.We all know what they should do but that would require the Millipede to change course which I suspect he's incapable of doing.The best outcome would be for the policy to be abandoned and the Millipede resigning. Please god. |
With gas and oil moving in the right direction I would have hoped HBR will copy BP share price movement early in the day yet I suppose. I would not want to be short in oil and gas producers in this market brave men if they are . |
Hbr should fall then. Will end red by end of week. |
Brent, WTI, UK and European Gas prices now all rapidly on the rise here: |
Because I'm just going by the last 2 to 3 yrs of share price movement. Should finish red by end of the week |
This will also help HBR, that's why the rise. |
Whu would you say that spacedust? |
Reasons to be angry
Sp remains in the gutters for the foreseeable future. |
Sep 30, 2024
“Harbour Energy CFO Buys Shares Through DRIP”
Harbour Energy (GB:HBR) has released an update.
Harbour Energy PLC disclosed that Alexander Krane, the company’s Chief Financial Officer, has acquired 5,643.29 Ordinary Shares via the Dividend Reinvestment Plan. The transaction, part of the company’s internal financial dealings, was carried out on the London Stock Exchange at a price of £2.650372 per share. |
re div: yep, still waiting... |
Apparently there's a discrepancy with BSL and what Harbour have paid over to them regarding the dividend.Good old Barclays......time i moved i feel |
I use HL and it's come through |
Is anyone else on here waiting for their 25/9 dividend payment into their stockbroker a/cc? Barclay Stockbrokers haven't credited my account yet |
 REASONS TO BE CHEERFUL...
2 successful deep water appraisal wells confirm multi TCF discoveries in South Andaman
New Andaman blocks issued to Harbour and Mubadala
Fenix Argentina started production 2 months early. 70,000 boe/d capacity
Tuna new partner great progress made expected soon leading to quick FID.
Drilling rig in Norway booked until 2028 showing long term commitment.
Talbot first oil end of 2024
Drilling started at Kan. 70% Harbour owned.
Harbour drilling Gilderoy & Jocelyn North around now.
Zama FEED being advance. 32% Harbour.
Egypt government looking to incentivise more foreign investment.
CCS Project completes successful pilot phase.
Viking CCS progressing to FID & massive potential with acquired projects.
Fantastic refinancing 700$ million @ 3.8% till 2029, 900$ Million @4.3% till 2032
Bank of America confirms Harbour top oil pick for them. Wonder why?
New COO Joining company in January
Carlos Slim increases stake by 6 million shares & up stake in Talos Energy again
Unit Opex 13-14$
BASF & Letter One both 6 month lockin period to increase share price stability.
Dividend now at 455$ million an 8% increase
Third Avenue funds buys 2.8% of Harbour
Great 85p Gas and 78$ Oil hedges in 2025
Production approx. 500k
2025 Free Cash Flow huge increase on 2024
FT100 promotion to share price increase stability later in year.
New presentation provided….
hxxps://www.harbourenergy.com/media/osrhxiso/harbour-energy-plc-completion-of-acquisition-investor-presentation-030924.pdf |
Bank of America (BofA) Note:
“Harbour Energy is flagged as a standout among European exploration and production companies, bolstered by a recent acquisition that has positioned it as the largest listed European E&P by production, estimated at around 500,000 barrels of oil equivalent per day.
BofA notes Harbour's resilience, with an 8% dividend yield that remains sustainable even at Brent prices of $45 per barrel. This combination of factors has made Harbour a top pick for BofA, thanks to its strengthened portfolio and ability to navigate lower oil prices effectively.” |
I never thought I'd say it but I'm impressed by a trade union boss. The GMB union has a far greater grasp of reality than that idiot Millipede and with a bit of luck will persuade Starmer to drop their economically illiterate policy of increasing the EPT rate and removing the capital expenditure set offs.Indeed the way things are going with energy prices the tax might drop out altogether |
Today’s excellent RNS update here simply once again further highlights how shrewd and business savvy Harbour Energy Management/BoD are and have been all along:
“Harbour is pleased to announce that Wintershall Dea Finance B.V. (the "Issuer"), a subsidiary of Harbour, priced an offering on 25 September 2024 (the "Offering") of €700 million in aggregate principal amount of 3.830% senior notes due 2029 (the "2029 Notes") and €900 million in aggregate principal amount of 4.357% senior notes due 2032 (the "2032 Notes"). Harbour intends to use the proceeds from this Offering to repay and cancel the $1.5 billion bridge facility utilised for the Wintershall Dea acquisition which completed on 3 September 2024, and for general corporate purposes.
The Offering is expected to close on or about 3 October 2024, subject to customary conditions precedent for similar transactions.” |
 TotalEnergies Starts Production in Argentina's Fenix Gas Field
TotalEnergies SE has begun production at the Fenix gas field, located 37.3 miles (60 kilometers) off the coast of Tierra del Fuego in Southern Argentina.
The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession, in which TotalEnergies holds a 37.5 percent operated interest, alongside its partners Harbour Energy, which also holds 37.5 percent, and Pan American Energy, which holds 25 percent.
With a production capacity of 10 million cubic meters per day, or 70,000 barrels of oil equivalent per day (boepd), the Fenix development consists of a new unmanned platform, located in 70 meters water depth and connected to the existing CMA-1 facilities, TotalEnergies said in a news release.
Gas produced at Fenix is sent through a 21.7-mile (35-kilometer) subsea pipeline to the TotalEnergies-operated Véga Pléyade platform and is subsequently treated onshore at the Río Cullen and Cañadon Alfa facilities, which are also operated by the company.
Fenix is a low cost, low emissions development, with a carbon intensity of 9-kilograms CO2 equivalent per boe, leveraging on the existing infrastructure, TotalEnergies said.
"The start-up of Fenix production safely and ahead of schedule, only two years after FID [final investment decision], demonstrates the capacity of our company to deliver its projects. Fenix will contribute to maintaining our gas production plateau in Tierra del Fuego and ensure a reliable supply to the Argentinean gas market," Javier Rielo, Senior Vice President Americas, Exploration and Production at TotalEnergies, said. "With its low break-even and low carbon intensity, Fenix perfectly matches the company's low-cost and low-emission strategy”.
TotalEnergies said it has been operating in Argentina since 1978, and today employs more than 1,100 people in its business segments, in Exploration & Production, renewable electricity, and lubricants.
Through its Total Austral affiliate, it is the country’s leading international gas producer, operating some 25 percent of production. The company’s equity share of production averaged 88,000 boepd in 2023.
In Tierra del Fuego, TotalEnergies operates the Cuenca Marina Austral 1 (CMA-1) concession, which includes onshore fields and six offshore platforms. In Neuquen, the company holds equity interests in five onshore blocks, spanning more than 235,000 net acres, all operated, according to the release.
TotalEnergies operates three wind farms and one solar plant in Argentina, with an installed capacity of approximately 300 megawatts.
In June, Wintershall Dea announced the start of development drilling at the Fenix field, alongside partners TotalEnergies subsidiary Total Austral, and Pan American Energy.
The total investment of the consortium in the Fénix development amounts to approximately $700 million, Wintershall Dea said in an earlier news release.
Noble Corporation’s jack-up drilling rig Regina Allen was deployed to start the Fénix development drilling program.
With its natural gas volumes that will contribute for more than 15 years to Argentina’s long-term energy supply, Fénix represents a material pillar for growing domestic gas production. The gas field is expected to play a significant role in the country’s energy matrix and to offset imports, with a planned peak production of around 353 million cubic feet (10 million cubic meters) of gas per day, Wintershall stated.
Currently, the four main gas fields Cañadón Alfa, Aries, Carina and Vega Pléyade in CMA-1 are already producing and supplying 15 percent of Argentina's natural gas production. |