Harbour Energy is set to acquire Waldorf Energy Partners and Waldorf Production subsidiaries for $170m, increasing its stake in the Catcher field to 90%. This deal also includes a 29.5% interest in the Kraken oilfield, boosting production and reserves in the UK North Sea.

The transaction will add 20,000 boepd and 35m mboe/d of 2P reserves. Managing director Scott Barr highlights the importance of this move for Harbour’s UK operations, providing cash flow benefits and enhancing long-term sustainability in the North Sea.

Harbour plans to integrate Waldorf’s assets for operational efficiencies, expecting financial synergies from decommissioning liabilities and tax losses. Waldorf’s decommissioning provisions stood at $720m, while estimated tax losses include significant figures related to corporation tax and energy profits levy.

The acquisition is scheduled to close in Q2 2026, pending regulatory approvals and resolution of creditors’ claims. Harbour’s recent divestment of interests in Indonesia signals a strategic shift towards strengthening its presence in the UK North Sea, aiming for sustained growth and operational success.

Read more at Yahoo Finance: Harbour Energy to acquire Waldorf subsidiaries for $170m