(WO) – Harbour Power has accomplished its $3.2-billion acquisition of LLOG Exploration Firm LLC, marking the corporate’s strategic entry into the U.S. Gulf of America and establishing a brand new core enterprise unit inside its world portfolio.
Picture: LLOG Exploration
The acquisition gives Harbour with a completely operated, oil-weighted deepwater portfolio and provides a U.S. working hub alongside its present core areas in Norway, the U.Ok., Argentina and Mexico. Firm management stated the transaction strengthens Harbour’s place in one of many world’s most prolific offshore basins and provides high-margin, long-life belongings with a considerable stock of improvement and drilling alternatives.
LLOG’s manufacturing averaged roughly 36,000 boed in 2025, supported by robust efficiency from the Who Dat and Buckskin hubs and the start-up of the Leon-Castille improvement in October. Harbour expects manufacturing from the acquired belongings to extend to between 65,000 and 70,000 boed by 2028, supported by ongoing improvement exercise and recognized drilling prospects.
The transaction was financed via a mix of $2.7 billion in money and roughly $0.5 billion in newly issued Harbour shares to the vendor, LLOG Holdings. Money funding included a $1.0-billion bridge facility, a $1.0-billion three-year time period mortgage and present liquidity. Following completion, Harbour has utilized for admission of the brand new consideration shares to buying and selling on the London Inventory Alternate, with itemizing anticipated Feb. 12, 2026.
Harbour Power CEO Linda Z. Prepare dinner stated the acquisition represents an vital step within the firm’s technique to construct scale and functionality throughout key offshore areas. She famous that the addition of LLOG’s workforce, operated infrastructure and deepwater experience positions Harbour to pursue additional progress and worth creation within the Gulf of America.
