Harbour Energy PLC (LSE:HBR) received a boost after the drilling success of a partner on a gas licence in Indonesia in which it has a 20% interest.
Operated by Mubadala Energy, the oil and gas arm of Abu Dhabi’s Mubadala Investment Company, the Layaran-1 well on the South Andaman licence produced at a rate of 30 million cubic feet a day. That's the crude oil equivalent of 5,300 barrels.
Layaran-1 is the first of a four-well exploration campaign targeting the same Oligocene play. The rig will now move to drill the Harbour-operated Halwa and Gayo wells on the Andaman II licence area.
In early trade, the stock was 239.1p, up 5.1p.