Harbour Energy PLC (LSE:HBR) shares climbed 6.55%, changing hands at 247.8p, after the London-listed independent oiler launched a $250 million share buyback after record production and stronger commodity prices lifted first-half cash generation and prompted another upgrade to its 2026 outlook.
Production averaged 509,000 barrels of oil equivalent per day, up 4% year on year, while revenue rose around 20% to $6.4 billion. Adjusted EBITDAX increased to $4.5 billion from $3.9 billion and free cash flow climbed about 30% to $1.8 billion.
Harbour narrowed full-year production guidance upwards to 490,000–500,000 boepd and raised its free cash flow forecast to around $1.8 billion from $1.4 billion. The outlook assumes second-half prices of $80 a barrel for Brent crude and $16 per thousand cubic feet for European gas.
The company now expects to return at least $800 million to shareholders in 2026, including a minimum $500 million above its annual dividend. The new buyback starts immediately and will end no later than 5 March 2027, with all acquired shares cancelled.
