)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Harbour Energy (HBR) investor relations material
Harbour Energy M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.M&A Announcement summary22 Dec, 2025
Deal rationale and strategic fit
Establishes a leading position in the deepwater U.S. Gulf of America, expanding presence in a prolific offshore basin with strong infrastructure and government support.
Adds a high-quality, oil-weighted portfolio with long-life reserves, significant operational control, and exploration upside.
Secures an experienced team, ensuring strategic and cultural fit, and supports creation of a new core business unit.
Complements existing offshore assets in Mexico, Norway, the U.K., and Argentina, leveraging synergies across regions.
Aligns with a strategy of portfolio high-grading, resilience, and global diversification.
Financial terms and conditions
Total consideration is $3.2 billion: $2.7 billion in cash and $0.5 billion in ordinary shares priced at GBP 2.15 per share.
Seller receives $0.5 billion in equity (175 million shares at 215p/share), resulting in 11% ownership post-completion, with 70% of shares under a one-year lock-up.
Funded by $0.5bn equity, $0.7bn existing liquidity, $1.0bn 3-year term loan, $1.0bn bridge to bond, and proceeds from Indonesia divestment.
Deposit of $100 million paid into escrow, credited against cash consideration at completion.
Post-merger leverage will be slightly above target but is expected to decrease through enhanced cash flow.
Synergies and expected cost savings
Synergies expected from leveraging buying power and supply chain efficiencies across the North Sea, Gulf of America, and Mexico.
Operational excellence and capital efficiency demonstrated by LLOG, with significant cost savings in Buckskin development.
Accretive to margins and lowers effective tax rate, with unit operating cost of $12/boe and a blended tax rate of approximately 23%.
Detail the 2026 distribution policy shift.
Elaborate on LLOG's 2026-2027 drilling plans.
How will LLOG's expertise aid Mexico projects?
What is the LLOG seller's share lock-up period?
LLOG's GoA exploration success rate since 2014
Combined FCF uplift from recent transactions
How will LLOG's team structure be preserved?
What specific actions support deleveraging by 2027?
Quantify the contribution of new wells to 2028 output.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Harbour Energy earnings date
Q4 2025 TU22 Jan, 2026
Next Harbour Energy earnings date
Q4 2025 TU22 Jan, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Harbour Energy plc is an independent oil and gas exploration and production company. It operates primarily in the United Kingdom, with a focus on the North Sea, but also has assets in Southeast Asia, Latin America, and other regions. The company’s portfolio includes both producing fields and development projects, with an emphasis on optimizing production and extending the life of mature assets. The company is headquartered in Edinburgh, United Kingdom, and its shares are listed on the LSE.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage