US EditionUK's Harbour Energy to Buy Oil and Gas Explorer LLOG for $3.2 Billion
Harbour Energy will add 34,000 barrels of oil equivalent per day with low operating costs and a 23% tax rate, expanding its global portfolio through this $3.2 billion deal.
- On Monday, Harbour Energy agreed to acquire LLOG Exploration Company LLC from LLOG Holdings LLC for $3.2 billion, including $2.7 billion cash and $500 million in voting shares.
- Faced with a 78% UK windfall tax, Harbour Energy has recently consolidated at home, expanded overseas last year by buying Wintershall Dea AG assets, and pursued US Gulf of Mexico access, CEO Linda Cook said.
- Added assets bring 34,000 boepd with operating costs near $12 per barrel of oil equivalent and floating production systems to 7,100 feet, Harbour said.
- Creating the Gulf of America business unit, Harbour said it will retain the LLOG name, with LLOG CEO Philip LeJeune leading, issuing new voting shares representing 11%, funded by a $1 billion bridge facility, a $1 billion term loan, and Harbour's net debt of $4.2 billion.
- Beyond immediate gains, the deal creates supply-chain synergies with Mexican projects and adds a core unit alongside Norway, the UK, Argentina and Mexico, while Europe remains Harbour's centre of gravity.
20 Articles
20 Articles
Covington oil and gas company sells for $3.2B to UK energy firm
KEY TAKEAWAYS: Harbour Energy agreed to acquire LLOG Exploration for $3.2 billion Deal marks Harbour’s entry into the deepwater U.S. Gulf of America LLOG assets add long-life, oil-weighted production and operational control Transaction expected to be free cash flow accretive starting in 2027 London-headquartered Harbour Energy has agreed to acquire Covington-based LLOG Exploration Company LLC for $3.2 billion, marking the company’s strat…
The Center Square
UK's Harbour acquires Gulf of America oil producer LLOG
(The Center Square) - United Kingdom-based Harbour Energy on Monday announced it has agreed to acquire deepwater specialist LLOG Exploration Company for $3.2 billion, providing the company with a presence
Harbour Energy Enters U.S. Deepwater With $3.2 Billion LLOG Deal
London-listed Harbour Energy has struck a $3.2 billion deal to buy LLOG Exploration Company LLC from LLOG Holdings, marking Harbour’s entry into the U.S. deepwater Gulf—referred to by Harbour as the “Gulf of America” following a U.S. federal naming change in 2025. The consideration ...
Harbour Energy Enters U.S. Gulf with Strategic $3.2 Billion Acquisition
Harbour Energy has agreed to buy Louisiana-based privately-held LLOG Exploration Company for $3.2 billion in a strategic deal that will establish a foothold for the UK-based oil and gas producer in the deepwater U.S. Gulf of Mexico. Harbour Energy on Monday announced that it has entered into an agreement to acquire LLOG Exploration Company LLC from LLOG Holdings LLC for a total of $3.2 billion, comprising $2.7 billion of cash and $500 million …
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