Harbour Energy (LSE:HBR) has reported record production of 509,000 barrels of oil equivalent per day in the first half, up 4% from 488,000 boepd a year earlier.
The London-listed North Sea oil and gas producer posted revenue of $6.4 billion for the six months to 30 June, up roughly 20% from $5.3 billion in the same period last year. Adjusted profit after tax rose to $0.6 billion from $0.4 billion, while reported profit swung to $0.4 billion from a loss of $0.2 billion in the first half of 2025.
Free cash flow reached $1.8 billion, up roughly 30% year-on-year, helped by realised oil prices of $84 per barrel and European gas prices of $14.4 per thousand standard cubic feet.
"We remain focused on executing our strategy: sustaining our production, strengthening our portfolio, ensuring financial resilience and delivering competitive shareholder returns", said chief executive Linda Z Cook.
Net debt stood at $5.4 billion at period end, with leverage of 0.7 times, up from $4.4 billion and 0.6 times at the end of 2025, following the $3.2 billion acquisition of LLOG Exploration in February.
Harbour declared an interim dividend of 8.05 cents per share, in line with its minimum annual policy of 16.10 cents, and announced a new $250 million share buyback.
The company raised its full-year production guidance to 490-500 kboepd from 480-500 kboepd previously, lifted its free cash flow outlook to approximately $1.8 billion from $1.4 billion, and kept capital expenditure guidance at $2.2-$2.4 billion.
