Harbour Energy on Thursday narrowed its annual production forecast upward after a strong first-quarter performance, helped by newly acquired assets in the face of disruptions in energy prices and supply due to the Middle East war.
The London-listed firm has increasingly diversified beyond the UK, expanding into Norway, Argentina, Mexico, and most recently into the U.S. Gulf of Mexico, as high taxes and policy uncertainty dent investment appeal at home after the Iran war raised oil prices.
Harbour, which is one of Britain's largest North Sea oil and gas producers, now expects to produce between 480,000 and 500,000 barrels of oil equivalent per day (boepd) in 2026, from the earlier estimate of 475,000-500,000 boepd.
(Reuters - Reporting by Ankita Bora in Bengaluru; Editing by Janane Venkatraman)