Offshore staff
ENGLAND — Harbour Energy has reached an agreement with BASF and LetterOne, the shareholders of Wintershall Dea AG, for the acquisition of substantially all of Wintershall Dea’s upstream assets for $11.2 billion.
The target portfolio includes all of Wintershall Dea’s upstream assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria as well as Wintershall Dea’s CO2 Capture and Storage (CCS) licences in Europe. Wintershall Dea's Russian assets are excluded.
The acquisition will add 1.1 Bboe of 2P reserves at c.$10/boe and more than 300 kboe/d of production at c.$35,000/boe/d.
Post completion, Harbour will continue to be Chaired by R. Blair Thomas, with Linda Z. Cook and Alexander Krane remaining as CEO and CFO, respectively.
Completion of the acquisition is expected to occur in fourth-quarter 2024.
In the recent "2023 Executive Perspectives Special Report," Philip Whittaker, Harbour Energy’s executive vice president of global services, recently told Offshore adaptability and innovation are now a necessity for the future of the oil and gas industry. Read more.
12.21.2023
