Britain's Harbour Energy raised its 2024 production forecast on Tuesday, after completing the purchase of oil and gas firm Wintershall Dea's assets.
Harbour in December had agreed to acquire the non-Russian oil and gas assets of the German company in an $11.2 billion deal with co-owners BASF and LetterOne, aiming to create one of the world's biggest independent producers.
The largest British North Sea oil and gas producer expects annual production of 250-265 kboepd, including four months from Wintershall Dea's upstream assets. That compares with its prior forecast range of 155-165 kboepd.
London-listed Harbour had narrowed its full-year production forecast in August after Britain imposed a hefty energy profit levy on oil and gas producers.
It reported estimated net debt of around $4.5 billion on completion of the deal. It had net cash of $45 million as on June 30.
(Reuters - Reporting by Yamini Kalia in Bengaluru; Editing by Shilpi Majumdar)
