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From borrowings of £2.3bn to debt-free in a year – Harbour Energy transformed by surging crude price

From borrowings of £2.3bn to debt-free in a year – Harbour Energy transformed by surging crude price

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Harbour Energy (LSE:HBR) PLC today predicted it will clear its US$2.3bn debt pile by next year, underlining the buoyant conditions currently for oil producers as the crude price surges ahead. North Sea-focused Harbour was formed a year ago by a merger of debt-laden Premier Oil with privately-owned Chrysaor in what was seen by many as the last gasp attempt to save the listed business from failure.

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