Harbour Energy Plc · LSE:HBR
Harbour Energy — FY2024 Earnings Presentation
82 slides from Harbour Energy's earnings presentation, Mar 6, 2025
Slide 1: Full Year Results 2024 and Capital Markets Update
6 March 2025 Harbour Energy Full Year Results 2024 and Capital Markets Update
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE: THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE BEING SUPPLIED TO YOU FOR YOUR INFORMATION ONLY AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY TO ANY OTHER PERSON. BY ACCESSING THIS DOCUMENT YOU AGREE TO BE B
Slide 3: Agenda
Agenda Welcome Full Year Results 2024 Capital Markets Update Q&A Harbour Energy | Full Year Results 2024 and Capital Markets Update 2
Slide 4: Full Year Results 2024
Full Year Results 2024
Slide 5: Wintershall Dea asset acquisition: a truly transformative deal
Wintershall Dea asset acquisition: a truly transformative deal Production 2P reserves From… To… kboepd bnboe 450-475 1.25 c.$18/boe c.$14/boe Unit opex3 Unit opex4 2.5x >3x 22 kgCO2e/boe 14 kgCO2e/boe GHGi emissions5,6 GHGi emissions6,7 186 0.36 High yield Investment grade Credit ratings Credit rati
Slide 6: 2024 highlights
2024 highlights Transformational acquisition of Wintershall Dea portfolio completed ▪ Step change in scale, portfolio quality and financial position ▪ Integration progressing as planned ▪ More than tripled 2P reserves and 2C resources to 3.2 bnboe Solid operational delivery Strong financial position
Slide 7: Materially increased and diversified production
Materially increased and diversified production Production UK Norway Argentina Mexico Other1 kboepd 500 Completion of 2024 Production increased by 40% Wintershall Dea ▪ Four months contribution from acquisition Wintershall Dea portfolio 258 (3 September 2024) ▪ Significant planned maintenance c. 60%
Slide 8: Investing to support production and cash flow today while preparing for the future
Investing to support production and cash flow today while preparing for the future Total capex $ billion 1.8 1.8 1.0 Maximising the value of our ...and maturing diverse set of future producing assets… investment options ▪ Accelerated drilling in the UK around ▪ Good momentum in Mexico; operated hubs
Slide 9: Higher production and realised European gas prices drive increased revenue
Higher production and realised European gas prices drive increased revenue Revenue Realisations, post-hedge1 $bn $/boe 6.2 Other gas c.65% 2023 73 ▪ Argentina / N. Africa gas sold into local markets ▪ Indonesia gas sold to Singapore, linked to HSFO 2024 23 ▪ 2024 realised c.$4/mscf 3.8 European gas
Slide 10: Strong operating margins with profitability impacted by write-offs and high effective tax rate
Strong operating margins with profitability impacted by write-offs and high effective tax rate $ million Revenue and EBITDAX c.65% and c.50% higher, driven by increased YE 2024 YE 20231 production and stronger European gas price realisations Revenue & other income 6,226 3,751 2024 includes a net ove
Slide 11: Balance Sheet transformed by acquisition and supported by investment grade credit ratings
Balance Sheet transformed by acquisition and supported by investment grade credit ratings Assets YE 2024 YE 20231 Equity and liabilities YE 2024 YE 20231 $ million $ million $ million $ million Goodwill 5,147 1,302 Other intangible assets 5,714 1,172 Equity 6,251 1,553 Property, plant and equipment
Slide 12: Solid underlying cash flow impacted by period specific items
Solid underlying cash flow impacted by period specific items Net debt / cash flow1 $bn 4.7 Free cash flow impacted by ▪ Material negative working capital of c.$0.5bn driven by the step up in the scale FCF of $0.1bn (before acquisition costs and diversity of our portfolio & shareholder distributions)
Slide 13: 2025 Guidance and outlook
2025 Guidance and outlook 2025 benefits from full contribution from high quality Wintershall Dea portfolio Production Opex Total capex Attractive hedge book kboepd $/boe $bn 13 2024 Guidance 52% 150-165 c.18 c.1.2 11 (At Jan 2024) 33% 2024 Guidance 250-265 16-17 c.1.7 11 (At completion) 8% 2024 Actu
Slide 14: Capital Markets Update
Capital Markets Update
Slide 15: Agenda – Capital Markets Update
Agenda – Capital Markets Update Overview and strategy Performance and portfolio insights Capital allocation Concluding remarks Q&A Harbour Energy | Full Year Results 2024 and Capital Markets Update 14
Slide 16: Overview and strategy
Overview and strategy Linda Z Cook, Chief Executive Officer
Slide 17: Key takeaways
Key takeaways Consistent strategy Track record of delivery … and world class team Diverse, resilient portfolio with longer term investment optionality – organic and inorganic Significant and sustainable free cash flow Strong balance sheet and disciplined capital allocation Competitive dividend with
Slide 18: One of the world's largest and fastest growing independent oil and gas companies
One of the world’s largest and fastest growing independent oil and gas companies Publicly-listed (UK FTSE) Norway Production >450 kboepd UK CCS Competitive operating costs Germany and resilient margins Broad set of strategic organic Mexico North Africa investment options North Africa Vietnam Leading
Slide 19: Global portfolio – four key countries drive our results
Global portfolio – four key countries drive our results Norway, UK, Argentina and Mexico account for over 80% of our portfolio % 450-475 1.25 1.91 kboepd bnboe bnboe 80% Norway: High quality production UK: Diverse asset base with high degree with significant near field opportunities of operational c
Slide 20: Founded with a vision to create a large-scale global independent O&G company
Founded with a vision to create a large-scale global independent O&G company Production kboepd 500 Harbour 0.0 Harbour 1.0 Harbour 2.0 (2014-2016) (2017-2020) (2021-2024) ▪ Private equity funded ▪ Private company ▪ Reverse merger => Publicly listed ▪ Vision: Create a new ▪ Two major acquisitions ▪ L
Slide 21: Harbour 3.0: Increased portfolio longevity with significant optionality
Harbour 3.0: Increased portfolio longevity with significant optionality Production kboepd 500 HBR 0.0 Harbour 1.0 Harbour 2.0 Harbour 3.0 (2014-2016) (2017-2020) (2021-2024) (2025+) ▪ Globally diverse ▪ Scale in three basins ▪ Production and cash flow longevity ▪ Multiple strategic investment 250 op
Slide 22: Track record of delivery and growth across multiple dimensions
Track record of delivery and growth across multiple dimensions Strong production growth Material reserves growth Improved earnings Production YE 2P reserves EBITDAX 65% kboepd bnboe 1.25 $bn 4.0 c. 50% 258 c.2.5x 175 2.4 0.49 1.5 0.35 17 2017 2021 2024 2017 2021 2024 2017 2021 2024 Robust free cash
Slide 23: Oil and gas remain essential for decades to come
Oil and gas remain essential for decades to come Increased investment required even as oil demand declines Oil, mbpd Demand scenarios Key themes impacting our sector 100 ▪ Energy demand continues to grow Production outlook 50 ▪ Pace of energy transition is uneven – and more expensive 0 ▪ Investment
Slide 24: Our strategy remains consistent and relevant...
Our strategy remains consistent and relevant... ...and we have the key attributes required for success Safe and Protecting employees, contractors, GHG intensity 14 kgCO2e/boe3 responsible 1.0 TRIR per million hours1,2 CO2 storage options communities and the environment Scale, 450-475 kboepd4 Large s
Slide 25: Leadership with the track record, experience and capability to support continued growth
Leadership with the track record, experience and capability to support continued growth Expanded and strengthened to drive the larger, global business Speaker Speaker Alexander Krane Philip Whittaker Andrea Pinarel Gill Riggs Chief Financial Officer EVP Business Services EVP Strategy & Business Deve
Slide 26: Strongly positioned versus peers on all metrics
Strongly positioned versus peers on all metrics Production 450-475 2025F, kboepd Other gas Euro gas Liquids Unit costs 2025F, $/boe $29/boe Total capex Opex (incl. tariffs) 2P and 2C YE 2024 2C resources 3.2 bnboe 2P reserves US companies only report 1P 1P only 1 2 3 4 5 6 7 8 FCF yield1 2025F FCF/m
Slide 27: Why Harbour Energy?
Why Harbour Energy? Track record of strategic, operational and financial delivery supported by a world class team A large scale, diverse producing asset base with a competitive cost structure and exposure to Brent oil prices and European gas prices Broad set of attractive strategic investment option
Slide 28: Performance and portfolio insights
Performance and portfolio insights Alan Bruce, EVP Technical Services
Slide 29: A diverse and robust portfolio
A diverse and robust portfolio Production kboepd 500 Harbour 1.0 Harbour 2.0 Harbour 3.0 (2017-2020) (2021-2024) (2025+) ▪ >150 kboepd1 ▪ >250 kboepd2 ▪ c.450 kboepd (2025-2027 avg.) ▪ Single basin ▪ UK’s largest producer ▪ Norway largest component ▪ >0.4 bnboe 2P ▪ Significant operational control ▪
Slide 30: Prioritising safety in everything we do
Prioritising safety in everything we do Occupational Safety Process Safety Total Recordable Injury Rate (TRIR) - per million hours worked Process Safety Event Rate (PSER) - Tier 1 and 2 events per million hours worked 5.0 1.0 4.0 3.0 2.0 0.5 1.0 0.0 0.0 2020 2021 2022 2023 2024 2020 2021 2022 2023 2
Slide 31: ESG delivery – Outperforming industry benchmarks
ESG delivery – Outperforming industry benchmarks Sustainalytics S&P Global CDP (0 = best possible score)1 (100 = best possible score)2 (A = best possible score)3 2021 2022 2023 2024 100 0 Harbour historical A 2024 Harbour 2024 Industry average 80 10 B 34 60 20 40 30 C 20 51 B 40 0 D 50 2021 1 2022 2
Slide 32: Delivering our climate targets
Delivering our climate targets GHG emissions1 GHG emissions intensity2 kgCO2e/boe Our targets KtCO2e Reported Proforma 2018 c.30% 20.0 c.35% Baseline emissions year 1,500 2025 15.0 Methane intensity < 0.2% 1,000 10.0 2030 50% reduction in emissions1 Zero routine flaring 500 5.0 2050 0 0.0 Net Zero a
Slide 33: A diverse asset base of scale delivering resilient production
A diverse asset base of scale delivering resilient production 2025 Production Guidance: 450-475 kboepd ▪ Scale in multiple established Other Other1 Other basins Gas BP Mexico ▪ Established world-class AkerBP Argentina operators Equinor ▪ Low asset concentration risk European Gas ▪ Geographic and pro
Slide 34: A competitive cost base sustainable through 2030
A competitive cost base sustainable through 2030 Unit operating cost1 $/boe c.15% 16.5 c.14 <$15/boe Guidance through 2030 Integration underway with further synergies to come 2024 2025 2026 2027 2030 ▪ Establishing a strong and lean corporate centre ▪ Leveraging material spend across multiple busine
Slide 35: UK: Maximising value in an uncertain and challenging fiscal and regulatory environment
UK: Maximising value in an uncertain and challenging fiscal and regulatory environment Production kboepd 150 100 10-15% 50 managed decline rate 0 2024 2025 2026 2027 2030 2025 UK production supported by 2024 capital programme ▪ Accelerated drilling around operated hubs Total capex ‒ GBA: Callanish F
Slide 36: Germany: stable production with long reserve life, strong margins and low emissions
Germany: stable production with long reserve life, strong margins Production kboepd and low emissions 30 Stable production 0 2024 2025 2026 2027 2030 ▪ One of the largest oil and gas producers in Germany ▪ Margins supported by stable tax rates Total capital expenditure $m ▪ High degree of operationa
Slide 37: A step change in the scale and diversity of our reserve base
A step change in the scale and diversity of our reserve base 2P Reserves bnboe 1.25 >3x Other Mexico Argentina 1.0 UK 0.36 Norway 0.1 3x c.20% UK increase in 2P reserves in 2024 growth in 2P reserves life1 YE2023 Production Additions YE 2024 20% c.75% 2P reserves CAGR since 2017 of 2P reserves in OE
Slide 38: Delivering our highest return projects: each project has to compete for capital
Delivering our highest return projects: each project has to compete for capital Oil price breakeven1 Gas price breakeven1 $/bbl $/mscf San Roque Dvalin Vaca Muerta North $40/bbl hurdle rate $5/mscf hurdle rate Cuvette Maria Phase 2 Raven West APE Vaca Muerta 0 500 1,000 1,500 0 500 1,000 1,500 2,000
Slide 39: Strong resource position underpinning long term production and reserve replacement
Strong resource position underpinning long term production and reserve replacement 2C contingent resources 2C resource: c.600 mmboe1 Major, offshore conventional projects bnboe ▪ Material equity positions in large oil fields in Mexico (Zama, Kan) >3x 1.9 ▪ Well-defined Tuna project and multi-TCF And
Slide 40: Value driven exploration strategy capitalising on the strengths of legacy organisations
Value driven exploration strategy capitalising on the strengths of legacy organisations Strong exploration track record ▪ Focused around producing assets in Norway and the UK delivering c.70%1 success rate (2019-24) ▪ Successful appraisal at Kan in Mexico with 100 mmboe (gross, 70% operated interest
Slide 41: High grading of our capital programme
High grading of our capital programme Total capex Norway Argentina Guidance $m Mexico Other UK ▪ Lower spend driven by UK and $2.4-2.6bn project high grading 2,500 c.25% ▪ Near term focused on high value, short cycle opportunities 2,000 ▪ Significant optionality longer term with increased competitio
Slide 42: Portfolio sustains highly cash generative production well beyond 2030
Portfolio sustains highly cash generative production well beyond 2030 Production Guidance Norway Argentina kboepd 450-475 Mexico Other UK 500 kboepd ▪ 2025-27 production averages c.450 kboepd ▪ Growth in Norway, Argentina and – over time – Mexico offsetting UK decline Long term, ‒ Norway projects on
Slide 43: Norway
Norway Michael Zechner, MD Norway
Slide 44: Why Norway?
Why Norway? Norway: Largest and lowest emissions supplier of gas to Europe and the UK Top 5 #1 lowest opex/boe country ranked country for lowest for offshore production1 GHGi for offshore production1 Low operating cost and robust margins Norway’s production, reserves and resources Strong public and
Slide 45: A leading producer and explorer in Norway
A leading producer and explorer in Norway Harbour is the largest international operator and the third largest natural gas producer in Norway ▪ Diversified asset base; multiple export routes ▪ High operating margins ▪ Strong equity position in multiple key host facilities c.$12/boe1 unit operating co
Slide 46: Our largest producing hubs in Norway
Our largest producing hubs in Norway Material interests in key hub areas with proven host operators and development opportunities Gjøa Skarv Aasta Hansteen Highly prospective area Significant area potential Strong production, high reliability ▪ Gjøa (28% non-op.) ▪ Skarv (28% non-op.) ▪ Aasta Hanste
Slide 47: Pipeline of high-quality, infrastructure led projects support production
Pipeline of high-quality, infrastructure led projects support production Harbour’s upcoming projects Approved projects deliver 75 2P reserves and 2C resources, mmboe (net) >100 mmboe reserves into production Approved developments Future projects Harbour operated Future projects could convert a furth
Slide 48: Strong exploration track record supports our development pipeline
Strong exploration track record supports our development pipeline Targeting resources in the At least 8 E&A wells planned (2025-27) vicinity of our key hubs Aasta Hansteen Hub Obelix Appraisal Lysefix 100% Lillefix exploration success rate in 2024 Asterix South Skarv Complex c.$1/boe Skarv-E Praktær
Slide 49: Track record of growing production
Track record of growing production Production kboepd Future projects ▪ Potential tie-backs to key hubs ▪ Short cycle time to first production 150 ▪ Materially contribute from 2028 Delivering new projects Approved developments to support ▪ Tie-backs to key hubs 100 production ▪ Maintain near term pro
Slide 50: Argentina
Argentina Martin Rueda, MD Argentina
Slide 51: Why Argentina?
Why Argentina? Strong political support and huge structural growth opportunity Pro-business government Production increasing rapidly Country production mmboepd1 World class oil and gas resource Liquids Gas Ambition to become net exporter of gas 2 New legislation incentivises large 1 infrastructure p
Slide 52: Harbour's position in Argentina
Harbour’s position in Argentina Long life production with potential for material growth ▪ Active in Argentina since 1978 ▪ One of country’s largest gas producers ▪ Long term production potential ▪ Significant reserve replacement opportunity with huge 2C resource Vaca Argentina Muerta Basin San Roque
Slide 53: CMA-1: A prolific offshore gas area with further development potential
CMA-1: A prolific offshore gas area with further development potential ▪ 37.5% interest, TotalEnergies operator ▪ 7 fields on production; 58 producing wells ▪ Fenix online and at plateau rates ▪ Multiple future tie-back / infill opportunities 2P reserves & 2C resources Production YE24, mmboe Net, kb
Slide 54: Argentina: the Vaca Muerta opportunity
Argentina: the Vaca Muerta opportunity An underdeveloped world class play, comparable with the best US unconventional basins Cumulative production and remaining resource4 mmboe 3% Produced Vaca Muerta ▪ 2nd largest shale gas and 4th largest shale oil resource in the world1 ▪ >2000 producing wells; 3
Slide 55: Our Vaca Muerta position
Our Vaca Muerta position A large and advantaged opportunity set with growth potential John to make outline of licences clearer >450k acres 2 gross in of the largest 5 licences 2 licences in the Vaca Muerta OIL PRODUCTION WI: 24.7%1 12 well drilling campaign underway GAS PRODUCTION San Roque WI: 22.5
Slide 56: San Roque, 24.7% working interest
San Roque, 24.7% working interest1 Pilot wells on production, unconventional licence application underway Current and potential well locations (phase 1) Oil well breakeven 2P reserves & 2C resources $/boe YE24, mmboe 40 Liquids Gas 48 20 26 3 0 San Roque Permian 2P 2C (VM) (Midland Basin) 4 2027 c.1
Slide 57: Aguada Pichana Este (APE), 22.5% working interest
Aguada Pichana Este (APE), 22.5% working interest Early development underway, with debottlenecking and further development planned Vast future potential for long lived, Well improvements in APE drilling Large 2C resource with potential material production campaigns increase margins for further addit
Slide 58: Southern Energy SA (SESA): the potential to deliver significant and long term cash flow
Southern Energy SA (SESA): the potential to deliver significant and long term cash flow Potential to accelerate development of the Vaca Muerta Southern Energy FLNG (HBR, 15% interest) ▪ Partners: Golar LNG, Pan American Energy, Pampa Energía and YPF Flow Reversal ▪ Seasonal operations until new pipe
Slide 59: Argentina production outlook
Argentina production outlook Production kboepd CMA-1 APE San Roque CMA-1 Infrastructure led development 80 projects to sustain production APE 60 Infrastructure investments unlock Long term potential for accelerated gas production with development 40 potential for acceleration and San Roque huge rese
Slide 60: Mexico
Mexico Gustavo Baquero, MD Mexico
Slide 61: Why Mexico?
Why Mexico? Mexico’s oil production mmboepd 2 1.8 target International 1 companies Pemex 0 2014 2016 2018 2020 2022 2024 Oil & Gas critical for country’s economy Mexico’s production, reserves and resources2 National Energy Plan goal to maintain 1.8 mmboepd1 c.100 bnboe Private investment crucial to
Slide 62: Harbour's position in Mexico
Harbour’s position in Mexico A major growth opportunity for Harbour Reserve and resource base1 ▪ Largest international mmboe company by reserve and resource base 500 ▪ 32% interest in giant 250 Zama oil field ▪ Successfully confirmed 0 Harbour Woodside ENI Repsol Petronas Perenco c.100 mmboe gross K
Slide 63: Mexico: The Zama field
Mexico: The Zama field Largest undeveloped oil field in Mexico ▪ Shallow water depth: c.150m ▪ Fully appraised: 4 reservoir penetrations ▪ Good quality reservoir with high resource density ▪ Nationally significant project ▪ Investigating options to accelerate first oil and optimise development conce
Slide 64: Carbon Capture and Storage (CCS)
Carbon Capture and Storage (CCS) Graeme Davies, EVP CCS
Slide 65: Carbon Capture and Storage (CCS)
Carbon Capture and Storage (CCS) Harbour CCS projects to compete for capital within the Harbour capital allocation process A right-sized CCS portfolio can complement Harbour’s strategy: ▪ Long-dated, stable cash flow that is not linked to O&G prices ▪ Offering a route to unlock value through reuse o
Slide 66: CCS Case Study: Greensand (Denmark)
CCS Case Study: Greensand (Denmark) Development approved in 2024, targeting commercial operation from 2026 Potential to be the first EU CO2 storage project ▪ INEOS operator; Harbour 40% interest ▪ Pilot-scale project c.400 ktCO2 pa ▪ Reuse of Nini platform; <$20m net capex ▪ EU grant award supportin
Slide 67: Greenstore (Denmark) and Viking (UK) CO2 transportation and storage projects
Greenstore (Denmark) and Viking (UK) CO2 transportation and storage projects CCS projects located favourably to compete for CO2 storage in Europe Harbour CO2 storage licence interests Greenstore, Harbour 40% interest Energy hub ▪ Cost competitive, new onshore licence ▪ Potential gross storage volume
Slide 68: Capital allocation
Capital allocation Alexander Krane, Chief Financial Officer
Slide 69: A disciplined and consistent approach
A disciplined and consistent approach Transformation of production and cash flow longevity … …capital allocation priorities unchanged kboepd Investment grade 500 Balance sheet strength Long term, material 250 production supported by 19 years reserves and resource life 0 Robust, diverse portfolio Sha
Slide 70: Consistent and clear capital allocation priorities
Consistent and clear capital allocation priorities Balance Robust and Shareholder sheet strength diverse portfolio returns ▪ Maintain robust balance sheet ▪ Invest in high quality projects ▪ A competitive annual dividend ▪ Ensure significant liquidity ▪ Establish material production of $200m 2021 ▪
Slide 71: Track record of financial discipline and deleveraging post M&A
Track record of financial discipline and deleveraging post M&A Net debt1 ($bn) Indicative net debt1 ($bn) Leverage2 Target leverage 4 3 2 1.2x Leverage target < 1.5x 0.9x Leverage 0.8x 0.7x 1 0.4x target 0.2x 0.1x < 1.0x 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 No public rating BB In
Slide 72: Investment grade capital structure and significant liquidity
Investment grade capital structure and significant liquidity Significant liquidity YE 2024, $bn 1.9 2.7 $3bn RCF committed to 2029 Access to diverse sources of capital 0.8 Weighted average cost of bonds <3.5%1 Cash Undrawn RCF Total liquidity Well-balanced and actively managed maturity profile with
Slide 73: Hedging to protect the balance sheet whilst maintaining price appreciation exposure
Hedging to protect the balance sheet whilst maintaining price appreciation exposure TTF vs Henry Hub Production $/mcf c.40% c.80% c.20% ▪ Gas forward sales ▪ Disciplined risk 60 Liquids Price Linear sensitive hedging ▪ Gas/oil financial swaps management approach instruments with 2-year rolling 40 =
Slide 74: Disciplined approach to investing
Disciplined approach to investing High grading of capital programme Capital allocation considerations Total capex, including decom, $bn (investment and M&A) Guidance Pre-tax Portfolio Project 3 2.4-2.6 Post-tax considerations considerations and strategic fit ▪ NPV, PIR, IRR, c.25% ▪ Credit accretive
Slide 75: A consistent and predictable approach to delivering competitive shareholder returns
A consistent and predictable approach to delivering competitive shareholder returns Shareholder distributions Distributions made, $million Share buybacks Annual dividend >125% 361 249 455 455 455 200 200 200 2021 2022 2023 2024 2025 2026 2027 Delivering competitive shareholder returns… ….with an amb
Slide 76: Strong cash flow drives capital allocation optionality
Strong cash flow drives capital allocation optionality Illustrative 3-year capital allocation outlook (2025-2027) $ billion High case ▪ Prioritising $0.5-1.0bn of debt reduction 6.0 ▪ Capital investment flexibility Excess cash ▪ Cost and portfolio initiatives of c.$0.5bn Low case ▪ An attractive ann
Slide 77: Delivering returns-focused value
Delivering returns-focused value Capital allocation priorities Outlook (2025-2027) 1 Investment grade balance sheet strength ▪ Investment grade credit rating ▪ <1.0x leverage ratio 1 ▪ c.$0.5-1.0bn debt reduction 3 2 Robust and diverse portfolio ▪ c.450 kboepd production ▪ <$15/boe operating costs ▪
Slide 78: Concluding remarks
Concluding remarks Linda Z Cook, Chief Executive Officer
Slide 79: Driving value through M&A
Driving value through M&A Shell and ConocoPhillips UK acquisitions Reverse merger with Premier Acquisition of Wintershall Dea portfolio mmboe Production by country, kboepd ▪ Public listing 450-475 2P reserves Norway c.700 ▪ International diversification UK Production >25% c.550 ▪ UK operational + fi
Slide 80: Why Harbour Energy?
Why Harbour Energy? A track record of strategic, operational and financial delivery supported by a world class team A large scale, diverse producing asset base with a competitive cost structure and exposure to Brent oil prices and European gas prices Broad set of attractive strategic investment opti
Slide 81: B cea
B cea
Slide 82: Harbour Energy
am Harbour mam Energy