Harbour Energy's new assets will increase output by 2026

Britain's harbour?Energy increased its 2026 production?outlook on a Thursday. It cited a...strong start to the year,?helped...by....early contributions from.....its newly acquired LLOG assets.

Harbour is relying on Wintershall Dea's assets in Norway and Argentina, while cutting investment?and job in the UK due to what it calls an "uncompetitive" tax regime. This concern has been heightened by the Middle East turmoil, making the timing for ending the windfall tax uncertain.

However, the company posted a "deeper" after-tax loss for the year ending December 31, 2025. This was a significant increase from a $93 million loss a year ago. Its tax bill also more than doubled from $1.31 to $2.98 billion.

Harbour expects to produce 475,000-500,000 barrels equivalents per day (boepd) in 2026, compared to a previous estimate of 435,000-455,000.

The previous outlook had excluded the impact of 'its acquisitions in the UK of Waldorf and LLOG, as well as the announced sale of its Indonesian assets. (Reporting and editing by Sumana Nady and Rashmi aich in Bengaluru)

(source: Reuters)