In February 2021, Harbour Energy announced its financial and operating results for 2020. The company reported revenue of $1.6 billion, a 38% decrease compared to the previous year, due to lower oil and gas prices and reduced production volumes. The company also reported a net loss of $463 million for the year, compared to a net profit of $225 million in the previous year.
Harbour Energy PLC is a global oil and gas exploration and production company with assets in Asia and Europe. The London Stock Exchange has listed the company under the ticker symbol “HBR.” Its shares are also available for trading on the OTC (over-the-counter) market in the United States. As of this post, HBR Share Price is at 272.20.
Like any publicly traded company, the stock price of Harbour Energy PLC is subject to market forces. Various factors include supply and demand, economic conditions, and geopolitical events. In addition, company-specific factors such as financial performance and management decisions. As a result, investors may use various methods to analyze the company and its financial statements, including fundamental analysis, technical analysis, and other methods to make informed decisions about buying or selling its shares.
Brief Background of HBR Share
Harbour Energy PLC is an independent oil and gas company headquartered in London, United Kingdom. Here’s a brief history of Harbour Energy PLC:
In 2014, the company was formed as Chrysaor Holdings Limited by a team of experienced oil and gas industry executives with backing from private equity firm EIG Global Energy Partners.
In 2017, Chrysaor Holdings acquired a portfolio of North Sea assets from Royal Dutch Shell for $3.8 billion, making it the region’s largest independent oil and gas company.
In 2019, Chrysaor Holdings acquired ConocoPhillips’ UK assets for $2.7 billion, further expanding its North Sea portfolio.
In August 2020, Chrysaor Holdings completed a reverse takeover of Premier Oil, another independent oil and gas company with operations in the North Sea. As a result, the combined entity was renamed Harbour Energy PLC.
Today, Harbour Energy is one of Europe’s largest independent oil and gas companies, with operations across the North Sea, Asia Pacific, and the Americas. The company has a diversified portfolio of upstream assets, including conventional oil and gas, offshore wind, and carbon capture and storage.
Advantages of Investing in HBR Share
Strong position in the North Sea. Harbour Energy is significant in the North Sea, one of the world’s most important oil and gas regions. The company has a diversified portfolio of assets, including mature producing fields and exploration prospects, which could provide long-term growth opportunities.
Experienced management team. The company’s management team has a proven track record of successfully acquiring and operating oil and gas assets, particularly in the North Sea. This expertise could help Harbour Energy to manage its operations and create value for investors efficiently.
Diversified portfolio. In addition to conventional oil and gas, Harbour Energy has also been investing in emerging areas such as offshore wind and carbon capture and storage. This diversified portfolio could help to reduce the company’s exposure to volatility in oil and gas prices.
Focus on ESG. Harbour Energy has committed to improving its environmental, social, and governance (ESG) performance. This could help to attract socially responsible investors and reduce the company’s exposure to ESG-related risks.
Main Competitors of HBR
Harbour Energy PLC operates in the highly competitive global oil and gas industry and faces competition from several major players. Some of Harbour Energy’s main competitors include:
Despite the challenging market conditions, Harbour Energy’s management highlighted several positive developments, including the completion of its merger with Premier Oil and the acquisition of assets from Dana Petroleum. The company also highlighted its commitment to reducing carbon emissions and improving ESG performance.
In March 2021, Harbour Energy announced that it had completed the sale of its interests in the Central North Sea to Waldorf Production Limited for $114 million. The sale was part of the company’s ongoing efforts to optimize its portfolio and focus on high-value assets.
Like many other oil and gas companies, Harbour Energy has faced significant challenges due to the COVID-19 pandemic and the associated decline in oil and gas prices.
FAQ: HBR Share Price
What is the historic performance of Harbour Energy PLC?
Harbour Energy PLC is a relatively new company formed in 2014 as Chrysaor Holdings Limited. Therefore, the company does not have a long history of financial performance as an independent entity. However, Harbour Energy has grown significantly through strategic acquisitions and investments since its formation.
Before its merger with Premier Oil in 2020, Harbour Energy had established itself as one of Europe's largest independent oil and gas companies, with a significant presence in the North Sea. In addition, the company had a diversified portfolio of upstream assets, including mature producing fields and exploration prospects.
In 2019, Harbour Energy acquired ConocoPhillips' UK assets for $2.7 billion, further expanding its North Sea portfolio. In 2020, the company completed a reverse takeover of Premier Oil, creating a combined entity with a diversified portfolio of assets across multiple geographies and business segments.
Does Harbour Energy pay dividends to its stockholders?
Yes, Harbour Energy PLC pays dividends to its shareholders. The company's dividend policy is to pay a sustainable dividend that reflects the long-term cash-generating capacity of the business and the outlook for future growth.
In March 2021, Harbour Energy announced that it would pay a final dividend of 2.8 cents per share for the financial year ending December 31, 2020. This brought the total dividend for the year to 4.4 cents per share, representing a yield of approximately 3.7% based on the company's share price at the time of the announcement.
How much does Harbour Energy PLC make in a year?
Like other publicly traded companies, Harbor Energy PLC publishes its financial statements quarterly and annually. As a result, the company's revenue and earnings can vary yearly based on various factors such as commodity prices, production levels, and operating costs.
In its financial report for the entire year that ended December 31, 2020, Harbour Energy reported revenue of $1.6 billion, a 38% decrease compared to the previous year. In addition, the company's net loss for the year was $463 million, compared to a net profit of $225 million in the previous year. The decline in revenue and earnings was primarily due to lower oil and gas prices and reduced production volumes.
