Harbour Energy outlines funding structure and regulatory process for LLOG deal

Harbour Energy (LSE:HBR) has provided further detail on the financing and regulatory framework surrounding its proposed US$3.2 billion acquisition of LLOG Exploration, confirming that the transaction qualifies as a significant deal under UK listing rules. The company has issued additional disclosures covering its financial position and key contractual arrangements linked to the acquisition.

The transaction is being funded through a combination of newly arranged bridge and term loan facilities, existing liquidity and the issuance of new shares. Completion is targeted for the first quarter of 2026, subject to regulatory approval in the United States. The LLOG acquisition follows a period of accelerated expansion for Harbour Energy, including the US$11.2 billion purchase of Wintershall Dea’s non-Russian portfolio, multiple bond issuances that extended debt maturities to 2028, and a series of portfolio actions such as the disposal of Indonesian assets, a UK North Sea acquisition from Waldorf, and the purchase of a 15% interest in an Argentine FLNG project. Together, these moves highlight Harbour’s transition toward a larger, more diversified global upstream and LNG-focused platform, supported by extensive corporate financing and decommissioning surety arrangements.

From an investment standpoint, Harbour Energy’s outlook is underpinned by strong operational delivery and shareholder-focused initiatives such as share buybacks. However, valuation remains pressured by a negative P/E ratio and bearish technical indicators. While the company’s high dividend yield and constructive earnings commentary offer some support, profitability and market sentiment remain key areas to monitor.

More about Harbour Energy

Harbour Energy is an independent oil and gas exploration and production company with a growing international portfolio spanning the UK North Sea, the US Gulf of Mexico, Latin America and other global basins. The Group focuses on upstream hydrocarbons and has expanded through large-scale acquisitions, supported by significant debt and capital markets facilities, while recycling capital through selective asset sales and targeted investment in liquefied natural gas projects.