22 Dec Strategic acquisition in UK North Sea
(Oilandgaspress) Harbour Energy announced that it has entered into an agreement to acquire substantially all the subsidiaries of Waldorf Energy Partners Ltd and Waldorf Production Ltd, currently in administration, for $170 million1. The consideration will be funded through readily available sources of liquidity.
The acquisition is immediately materially accretive to Harbour’s free cash flow and will support the competitiveness, resilience and longevity of Harbour’s UK business.
The acquisition is expected to:
Add oil-weighted production of 20 kboepd and 2P reserves of 35 mmboe2
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