Shares in Harbour Energy fell on Thursday after warning an “unusually high level” of North Sea shutdowns and deferred drilling will hit its production levels.
Harbour Energy CEO Linda Cook talks job cuts, EPL and whether the firm would move its listing out of London.
Harbour said the windfall tax has “extinguished” profits – but the firm, which is cutting jobs, still announced $300m of shareholder dividends and buybacks today.
Harbour, which is making hundreds of job cuts, is also set for a heavy windfall tax hit in its results tomorrow, analysts say.
Harbour Energy (LON: HBR), the largest producer in the North Sea, will shun the ongoing licensing round in the UK due to the windfall tax.
The head of TotalEnergies’ North Sea business says the supermajor will slash investment by a quarter next year in light of the UK Government’s windfall tax, and expressed concern over the lack of a price floor built into the policy.
More than £200 billion of UK energy investments, including low carbon solutions, are “at risk” due to the windfall tax, the North Sea trade body has warned.
Harbour Energy (LON:HBR) reported strong nine-month performance in 2022 as production rose by more than a quarter, but again took aim at the impact of the UK’s windfall tax measures.
The chief executive of Harbour Energy (LON: HBR) said another suite of bumper results will enable the company to reduce its net debt to zero in a matter of months, but was critical of the impact of the government’s windfall tax.
Harbour Energy (LON: HBR) has sanctioned two new oil and gas projects in the North Sea as its profits swell.
Harbour Energy (LON: HBR) has issued a letter to Chancellor Rishi Sunak, it has been reported, slamming the “seriously flawed” windfall tax.
Harbour Energy (LON: HBR) has launched a $200m share buyback scheme, a move which could boost investor confidence following a windfall tax hit last month.
Harbour Energy’s chief executive Linda Cook said carbon capture and storage (CCS) offers greater impact for reaching net zero goals, as the regulator announces plans for its first carbon storage licensing round.
Harbour Energy chief executive Linda Cook joined industry heads in calling for a “stable” tax environment, and warned of the potential consequences for future North Sea investment should a windfall levy be imposed.
A leader from the Ukraine energy sector will deliver an address at a major North Sea industry conference in Aberdeen this month.
The CEO pay packets of Europe's oil supermajors continue to trail that of their American counterparts, as Energy Voice explores earnings amongst the sector’s top execs.
The chief executive of Harbour Energy and the head of the recently-rebranded North Sea Transition Authority will headline a major industry conference next month.
Harbour Energy posted pre-tax profits of $315 million (£239m) for full-year 2021, and expects a windfall of up to £1.3bn in free cashflow by the end of the year as higher commodity price prevail.
Phil Kirk, Europe chief executive of Harbour Energy (LON: HBR), and founder of its predecessor Chrysaor, will step down at the end of this month.
Harbour Energy has returned to profits and is predicting a boost to its North Sea production as drilling campaigns get underway.
A Scottish court has given the green light to the merger of UK operators Chrysaor and Premier Oil.