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Harbour Energy announces US$200 million buyback programme

Published by , Editorial Assistant
Oilfield Technology,

Harbour is pleased to announce the commencement of a share buyback programme of the Company’s ordinary shares for up to a maximum aggregate consideration of US$200 million. As set out at the Company’s Capital Markets Day in December 2021, the Company continues to employ a disciplined and prudent approach to capital allocation, balancing its three priorities of safeguarding the balance sheet, ensuring a robust and diverse portfolio and shareholder returns.

Harbour has entered into irrevocable, non-discretionary agreements with its corporate brokers to execute the programme on its behalf. The purpose of the programme is to reduce the Company's share capital and all ordinary shares purchased as part of this programme will be cancelled. The programme will commence 16 June 2022, and will end no later than 31 December 2022.

Any purchases of ordinary shares by the Company in relation to this announcement will be conducted in accordance with the relevant regulations (including but not limited to the Listing Rules) and Harbour’s general authority to repurchase shares.

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