Overview
- The joint administrators signed a binding share sale agreement to transfer Waldorf’s UK companies, excluding Waldorf Energy Finance, to a Harbour subsidiary for $170 million.
- Harbour will use existing liquidity to fund the purchase and expects the transaction to be immediately accretive to free cash flow.
- The acquisition adds about 20,000 boepd and 35 million boe of 2P reserves, raises Harbour’s operated stake in the Catcher field to 90%, and includes a 29.5% non‑operated interest in Kraken.
- Harbour cites expected financial synergies including the release of roughly $350 million in decommissioning security and the value of Waldorf’s UK ring‑fence tax losses.
- Closing remains conditional on regulatory consent and creditor resolutions with a Q2 2026 target, WPUK will withdraw its Supreme Court appeal, and the deal continues a wider UK North Sea consolidation trend including Adura and the planned NEO NEXT+ combination.