UK's Harbour Energy 2025 revenue up on record production

Harbour Energy

05/03/2026 07:09

Overview

UK oil and gas producer's 2025 revenue rose, driven by record production levels

Company's free cash flow increased significantly to $1.1 bln

Company completed $3.2 bln LLOG acquisition, expanding US Gulf operations

Outlook

Harbour Energy expects 2026 production of 475-500 kboepd

Company forecasts 2026 free cash flow at c.$0.6 bln

Harbour Energy anticipates 2026 capex of $2.2-2.4 bln

Result Drivers

RECORD PRODUCTION - Harbour reported record production of 474 kboepd, an 84% increase from 2024, driven by new wells and projects in the UK, Norway, Argentina, and Egypt

COST REDUCTION - Unit operating costs were reduced by 22% to $12.8/boe due to the integration of lower-cost assets and operational efficiencies

STRATEGIC ACQUISITIONS - The $3.2 bln LLOG acquisition expanded Harbour's US Gulf operations, adding high-margin, long-life assets with growth potential

Company press release: ID:nRSE4774Va

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Income
-$182 mln
FY Free Cash Flow
$1.07 bln
FY Pretax Profit
$2.80 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Harbour Energy PLC is GBp290.00, about 11.3% above its March 4 closing price of GBp260.60

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)