(Source: Shutterstock.com)
Harbour Energy Plc is expecting to close its acquisition of Wintershall Dea’s upstream assets earlier than expected, the U.K.-based oil and gas company announced Aug. 27.
Previously planned for fourth-quarter 2024, the $11.2 billion cash-and-stock transaction is now expected to close in early September.
Harbour cited progress on satisfying closing conditions, including recent regulatory consents in Mexico, as reasons for the quicker close.
Finalization of the deal, announced in December 2023, will increase Harbour’s production to almost 500,000 boe/d and add significant positions in Norway, Germany, Argentina and Mexico—including growing its interest to 32% in the Zama shallow water development offshore Mexico.
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“The acquisition is expected to transform Harbour into one of the world’s largest and most geographically diverse independent oil and gas companies, adding material gas-weighted portfolios in Norway and Argentina and complementary growth projects in Mexico,” Harbour had said in a press release when it first announced the deal.
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