The UK oil and gas producer revised its annual output forecast higher due to improved operational performance and project execution.
Harbour Energy increased its 2024 production guidance to 180,000-190,000 barrels of oil equivalent per day, up from a prior range of 170,000-190,000. The adjustment reflects stronger-than-expected output from key assets, including the UK North Sea and Indonesia operations.
The company had previously reported first-half production of 185,000 boepd, exceeding analyst expectations. The revised forecast aligns with its strategy to optimize existing fields and reduce operational costs amid volatile energy prices.
Shares of Harbour Energy remained steady in early trading, as investors weighed the positive outlook against broader sector challenges.