Harbour Energy to Buy LLOG Exploration in $3.2 Billion Cash, Stock Deal

03:39 AM EST, 12/22/2025 (MT Newswires) -- Harbour Energy (HBR.L) agreed to buy LLOG Exploration Co. for $3.2 billion, marking its strategic entry into the US Gulf of America. The acquisition consideration comprises $2.7 billion in cash and $500 million in Harbour Energy shares, according to a Monday filing. Harbour said the deal will add a significant portfolio of offshore oil assets. Harbour Energy will fund the acquisition through a $1 billion bridge facility, a $1 billion term loan, and its existing resources. It will issue 174,855,744 new shares as part of the stock consideration at 2.15 pound per share. This will result in LLOG owning an 11% stake in Harbour Energy. Completion is expected late in the first quarter of 2026, subject to customary approvals.