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Exclusive-North Sea oil and gas producer Harbour in merger talks with Talos -sources

Published 06/06/2023, 18:08
Updated 06/06/2023, 18:20
© Reuters
HBR
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By Ron Bousso and David French

LONDON (Reuters) - Harbour Energy (LON:HBR) Plc, Britain's largest North Sea oil and gas producer, is in talks to merge with U.S. listed peer Talos Energy Inc, four people familiar with the matter said on Tuesday.

Harbour which has a market value of 2 billion pounds ($2.5 billion) and Talos, valued at $1.7 billion, have held on and off talks about a combination for at least six months, but negotiations rekindled in recent weeks, the sources said.

If there is a deal, it could involve the combined company listing in New York, the sources added.

The sources, who spoke on condition of anonymity to discuss private deliberations, cautioned there was no certainty a deal would be reached. Details of the deal terms under discussion could not be learned.

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