Harbour Energy has completed its acquisition of substantially all the subsidiaries of Waldorf Energy Partners and Waldorf Production in the UK, finalizing a transaction that strengthens its position in the UK North Sea.
The acquisition, valued at $163 million, follows the receipt of all required regulatory approvals and the full and final settlement of all creditor claims against the acquired Waldorf subsidiaries.
The transaction completes a deal first announced in December 2025. The purchase was funded through the company's existing liquidity.
The acquisition adds approximately 20,000 barrels of oil equivalent per day (boepd) of predominantly oil-weighted production and around 35 million boe of 2P reserves to Harbour's portfolio.
It also increases Harbour's operated interest in the Catcher field in the UK Central North Sea to 90% from 50%, while adding a 29.5% non-operated stake in the Kraken oil field in the Northern North Sea, providing the company with a new production hub in the area.
In addition to increasing production and reserves, Harbour previously said the acquisition would generate operational and financial synergies by integrating Waldorf's non-operated portfolio into its UK business.
The transaction is also expected to release around $350 million of cash previously posted against Waldorf's decommissioning liabilities by leveraging Harbour's investment-grade balance sheet, while adding Waldorf's UK ring-fence tax losses to Harbour's portfolio.
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