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UK-based Harbour Energy Reports 4% YOY Rise in H1 Production

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UK-based independent oil and gas company Harbour Energy on Thursday reported H1 production of 509,000 barrels of oil equivalent per day, 4% higher than the average of 488,000 boe/d in the corresponding period last year.

For full-year 2026, production guidance was revised upwards to 490,000-500,000 boe/d, compared with 480,000-500,000 boe/d earlier, supported by strong H1 results, good summer maintenance progress, faster project delivery in Norway, and strong July production of 510,000 boe/d, the company said.

The H1 output, which comprised of about 40% liquids, 40% European natural gas, and 20% other natural gas, rose year-on-year led by the acquisition of the LLOG portfolio in the US in February, which more than made up for production declines from the Vietnam and Indonesia divestments and natural decline in the UK the company said.

Production also benefited from strong performance in Norway, driven by Harbour-operated Gjoa satellite fields and new Njord wells. "High reliability across the global portfolio, with 93% operating efficiency, together with the successful delivery of new wells and developments in Norway, the US, and Argentina, further supported performance," the company said.

In H1, new wells came online in the US, Argentina, and Norway, where the Dvalin North project commenced production ahead of schedule.

Unit operating costs for the six months period ended June 30 were $13.3/boe, compared with $12.4/boe in H1 2025.

For full-year 2026, the company reaffirmed its guidance for unit operating costs and total capital expenditure at about $14.5/boe and $2.2-2.4 billion, respectively.

In H1, crude oil sales increased to $2.74 billion, compared with about $1.80 billion in the corresponding year-ago period, while gas revenue rose to $3.34 billion from last year's $3.08 billion. Meanwhile, condensate revenue was reported at $283 million, versus $267 million in H1 2025.

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