Harbour Energy operational results showed a 190%  increase in its production volumes, reaching 500,000 barrels of oil equivalent per day (boe/d) during the first quarter (Q1) of  2025. The production was split into 40% liquids, 40% European natural gas, and 20% non-European natural gas. The company, a major player in the oil and gas industry with a wide presence across the world, has added new wells in the UK, Argentina, Egypt and Germany, according to the company’s website. Furthermore, it reported a 90% production efficiency.

The company stated that the costs of operations in Q1 2025 were 30% lower than the same period in 2024, recording $13 per barrel of oil equivalent (boe) due to adding the Wintershall Dea portfolio.
Reflecting the production increase, the company’s revenues were estimated at $2.8 billion in Q1 2025, compared to just $0.9 billion in Q1 2024.

The company had a strong start to the year, Linda Z Cook, Harbour Energy’s Chief Executive Officer (CEO) noted, while adding that the increase in production reflected the addition of the high-quality Wintershall Dea portfolio and excellent operational delivery.

“This, together with improved European gas price realisations and lower unit costs, drove significant free cash flow of approximately $0.7 billion.” Cook pointed out.

“Recent market volatility reinforces the benefits of our diverse portfolio and prudent approach to risk management. Since early March, we have successfully issued $0.9 billion of senior notes and €0.9 billion of hybrids. In addition, we are taking mitigating actions which, together with our improved production outlook, largely offset the impact of lower commodity prices. Given this progress, we remain well-positioned to deliver against our capital allocation priorities,” she added.