Harbour Energy plc has completed its $3.2 billion acquisition of LLOG Exploration Company LLC, operating in the Gulf of Mexico (Gulf of America).
TVRs
The purchase is through $2.7 billion cash and 174,855,744 new Harbour voting ordinary shares to the seller LLOG Holdings, L.L.C. with a value of $500m.
Harbour used a $1bn bridge facility, a $1bn three-year term loan and $700m from existing sources of liquidity to fund the transaction.
“Through LLOG, Harbour gains a fully operated, oil-weighted portfolio and an exceptional team in one of the world’s most prolific oil and gas basins,” said the company.
“LLOG adds high margin, long-life assets and a deep inventory of high return drilling opportunities.
“Production from LLOG averaged 36 kboepd during 2025, reflecting strong performance across the Who Dat and Buckskin hubs and the start-up of Leon-Castille in October.
“Production is on track to increase to 65-70 kboepd by 2028.”
Following admission, the company’s total number of voting ordinary shares will number 1,579,724,339.
Harbour expects to publish its full year results for 2025, including guidance for this year, on 5 March 2026.