Harbour Energy Share Discussion Threads

[patience a virtue] 02/1/2024 11:01

HNY to all long term holders. Been happy with the dividends for the last couple of years but this year I look forward to some material capital gains as well. In old premier oil money this is still only 16p! I do wonder where Andypop and Stansmith have gone?

[cashisking76] 02/1/2024 07:55

Potential here is truly massive going forward.

Fitch Places Harbour Energy on Rating Positive Watch on Wintershall Acquisition

Fitch Ratings - London - 29 Dec 2023: Fitch Ratings has placed Harbour Energy PLC's (Harbour) Long-Term Issuer Default Rating (IDR) of 'BB' on Rating Watch Positive (RWP). This follows an announcement of Harbour's acquisition of substantially all of Wintershall Dea AG's upstream assets.

The acquisition of Wintershall Dea's assets will dramatically increase Harbour's scale and diversification. In 2024, the combined production is expected to be around 500,000 barrels of oil equivalent per day (kboe/d, around 60% of which will be natural gas), and management expects a fairly stable production profile in the next four years. Production will primarily be focused on Norway and the UK and, to a lesser extent, Argentina, Germany and Africa. The combined production would be broadly in line with that of US-focused Diamondback Energy, Inc. and Norway-focused Aker BP ASA (both rated 'BBB'/Stable).

Harbour has demonstrated a record of acquiring assets and successfully integrating them, most recently through its reverse merger with Premier Oil, which increased its production by around 50% and made Harbour a listed company. Following acquisitions, Harbour focus has been on debt reduction, and pre-transaction net financial debt is minimal. We expect Harbour's financial policy to remain prudent.

Post-acquisition, Harbour's scale will be comparable to that of other investment-grade independent exploration and production peers, including Aker BP and Diamondback Energy, Inc. (BBB/Stable). Harbour's production (2024 consolidated production, including acquired Wintershall Dea's assets: around 500 kboe/d) will compare well with Aker BP's guided 2023 production of around 460 kboe/d and Diamondback's of 447 kboe/d. Harbour's post-acquisition business profile will be more geographically diversified than that of Aker BP (focused on Norway) and Diamondback (focused on Permian basin in the US).

Adequate Liquidity: Harbour expects that the cash consideration of USD2.15 billion will be funded through cash flows generated by the target portfolio between 30 June 2023 and completion, and an underwritten USD1.5 billion bridge facility. Based on our forecasts, the combined post-acquisition cash balance of Harbour, after drawing down of the bridge facility and payment of the cash consideration, should be in excess of USD1 billion.

hxxps://www.fitchratings.com/research/corporate-finance/fitch-places-harbour-energy-on-rating-positive-watch-on-wintershall-acquisition-29-12-2023

[wolfofhounslow] 01/1/2024 14:59

If oil goes down this will follow unfortunately

[farmerjohn1] 30/12/2023 19:40

Alan Oscroft, The Motley Fool, 29 December

I’d buy these FTSE 250 stocks for the next bull market

Harbour Energy might be though. I can see volatility due to uncertain oil prices and demands. But it’s one of those rare oilies with net cash. And there’s an 8.2% dividend on the cards. I’m tempted.

[luckyjoe999] 29/12/2023 12:19

Post from lse bb today:

BaysilHope
Posts: 4,255
Price: 305.40
No Opinion
Today 07:43
Oxy $12bnacqn Crownrock - Bid war comparatives Dec 23

Oxy acquires Crownrock for $12bn funded by buffett loan, gets 170boepd, 100k acreage and $1bn FCF yr 1 with opex $40/barrel FFS. They been scammed, our deal is probably $4-5bn better, with $2.7bn potential to fund acq'n from WD resources. This will be a game changer and had the benefits of NO Bidding war.

[luckyjoe999] 29/12/2023 12:16

Post from lse bb today:

miles44
Posts: 442
Price: 309.30
No Opinion
RE: 6 week coil chart pattern
Today 11:24

I honestly thought that the share price would go substantially lower from the highs of around 315 because the majority of market participants between Christmas and New Year (calm period) normally are us retail investors. And I thought that at least some will be ready to sell part of their holding (or all) and personally know some former holders who sold just because their old sell limit got activated the day it rose 31 %. As for the BIG money to flow in that´s going to happen in the first 2 weeks of January. Fund managers aren´t active right now and as Linda stated the 21st, even some analysts had to be reactivated for the webcast, already being in Christmas holidays. So no-one should over-estimate any "share price movement" since the 21st - the only thing that has actually happened is that the share price has astonishingly held up very nicely which for me indicates that at least 1 or 2 major market participants are collecting some shares at current prices. As I said: the big money is going to get active on this stock in the first 2 weeks of January. And lets see what share prices we´ll see then ... you all have a good, happy and successful 2024 :) Was a pleasure writing with all :) Fingers crossed for HBR 600 p in 2024 :)

[blackhorse23] 29/12/2023 11:18

Energy voices: https://www.rigzone.com/news/hitachi_petrofac_get_2nd_contract_under_14b_tennet_power_agreement-28-dec-2023-175189-article/

[bearnecessities33] 28/12/2023 18:09

HBR - Shorts Now Further Closing Positions Here:

[luckyjoe999] 28/12/2023 17:17

Post from lse bb today:

Modestus
Posts: 1,379
Price: 303.60
No Opinion
Today 06:05
RE: Aker BP Mkt Cap $18.5bn ? HBR +$3.1bn ??

The effective date of the transaction is the 30th of June 2023, so all cash generated between that date and the moment the deal is closed will correspond to HBR. Considering a conservative netback of $20/boe, the assets can accumulate more than $2.7bn in cash until the end of Q3 2024, which will be more than enough to pay the cash consideration to BASF and LetterOne without using the bridge facility that HBR has included in the deal as a precaution.

[spacedust] 28/12/2023 15:55

For yrs I've heard that and the share price stays in the gutters to rot

[cashisking76] 28/12/2023 15:41

Top oil and gas deals of 2023

Energy transition: Harbour Energy to acquire Wintershall Dea’s upstream assets for $11.2bn
Just this week, Harbour Energy signed a deal with BASF and LetterOne to acquire Wintershall Dea’s upstream oil and gas assets for $11.2bn.
This acquisition, which excludes Wintershall Dea’s Russian assets, encompasses producing and development assets, exploration rights in several countries, and carbon capture and storage (CCS) licenses. The assets included in the deal are in Algeria, Argentina, Denmark, Egypt, Germany, Libya, Mexico and Norway.
Harbour CEO Linda Z Cook noted that the acquisition in part advances Harbour’s energy transition objectives by shifting its portfolio towards natural gas, lowering its GHG emissions intensity and expanding its CCS interests into new European markets.
Together, BASF and LetterOne will own a 54.5% stake (BASF 39.6% and LetterOne 14.9%) in the enlarged Harbour following the deal. The deal is expected to be completed in Q4 2024.

[brazilnut1] 28/12/2023 14:50

Ye but £5 will be in 2050.

[spacedust] 28/12/2023 14:35

Delusional

[tag57] 28/12/2023 13:28

BN1 I would be happy with that!

[brazilnut1] 28/12/2023 12:38

550p - 700p incoming !!!! Eh ssbx1 ? At very best will only ever see £5 tops again.

[spacedust] 28/12/2023 11:10

It's been a multi bagger in the waiting for years now since PMO became HbR. All we've seen is share price destructions.

Sub 300p on more fantastic news. OR for no reason in 2024

[thecomposer] 28/12/2023 08:17

Today, HBR clearly has the potential to be the most rewarding FTSE share of 2024, especially post this “Deal of the Century” here and from it’s current significantly suppressed market capitalization, HBR is a sleeping giant and a Multibagger in the waiting, DYOR.

[onlylongterm9] 28/12/2023 08:00

Harbour Energy to Acquire Wintershall Dea in $11.2 Billion Deal

Harbour Energy, the British oil company, has unveiled its plans to acquire Germany’s only oil and gas company, Wintershall Dea, in a transaction worth $11.2 billion. An intriguing twist in the tale of Germany’s energy sector, this deal implies a change of hands from German to British ownership, thereby underlining the cross-border dynamics of the energy industry.

A Strategic Acquisition
Wintershall Dea’s upstream assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya, and Algeria, along with its CO2 Capture and Storage (CCS) licenses in Europe, are part of the acquisition. However, the deal explicitly excludes Wintershall’s Russian assets. This strategic acquisition is set to transform Harbour Energy into one of the world’s largest and most geographically diverse independent oil and gas companies. It will add material gas-weighted portfolios in Norway and Argentina and complementary growth projects in Mexico to Harbour’s portfolio.

BASF’s Role in the Deal
Upon completion of the transaction, BASF, which currently owns a massive 72.7% of Wintershall Dea, will acquire a significant 46.5% stake in Harbour Energy. A crucial element of the deal is the provision for BASF to nominate two non-executive directors to Harbour’s board. This adds a layer of corporate governance intrigue as BASF, post-acquisition, will have substantial stake and board influence in Harbour Energy.

Implications for the Energy Sector
This acquisition is expected to lead to further restructuring and closure of units in Kassel and Hamburg as the headquarters and related staff are not part of the transaction. Also, it will have an impact on PGNiG Upstream Norway (PUN), part of the ORLEN Group, which has signed an agreement with Wintershall Dea Norge for the swap of interests in upstream assets in Norway. The deal will boost PUN’s recoverable reserves of natural gas by more than 0.4 billion cubic meters.

The deal underscores the fluidity and strategic maneuvering that characterize the global energy sector. As Harbour Energy emerges as a more potent player on the global stage, the ripple effects of this deal are likely to be felt across the industry. The transaction is a profound reminder of the constant state of evolution in the energy sector, driven by strategic acquisitions and stake reshuffles.

[spacedust] 27/12/2023 12:32

Did ok from 250p to 312p.

[spacedust] 27/12/2023 12:31

My re e try point is 250p. It will be hit

[wolfofhounslow] 27/12/2023 12:12

This is going sub 300 again ridiculous

[spacedust] 27/12/2023 12:05

What happened to the previous analyst target of 480p which has now been increased to 560p. Jeez these analysts look stupid 99% of times

[stevie blunder] 27/12/2023 11:39

Hi Chucko, I'm sure that is all good advice! I could have done with that when I started on the rower at age 50 or so :) I have sold the Concept 2 and bought a bike instead.So far so good and the scenery is better!

I agree forecasting short term commodity prices is very difficult, and it is very easy to look stupid, never seems to bother Goldmans though!

I am still underwater in Harbour, but looking forward to better times.