(The Center Square) – United Kingdom-based Harbour Energy on Monday announced it has agreed to acquire deepwater specialist LLOG Exploration Company for $3.2 billion, providing the company with a presence in the Gulf of America.
The transaction, expected to close in the first quarter of 2026, “positions us as a leading player in a region with well-established infrastructure, a supportive fiscal and regulatory environment and opportunities for additional growth,” Harbour CEO Linda Z Cook said in a statement.
LLOG CEO Philip LeJeune and his management team will lead the new Gulf business unit, Cook said. It will retain the LLOG name in order to leverage its history and reputation, Harbour said.
Harbour, which operates in waters off the coasts of Norway, the United Kingdom, Argentina and Mexico, currently produces about 475,000 barrels of oil a day. The acquisition creates supply chain synergies across the company, especially with projects in Mexican waters, the company said.
LLOG, a privately held company founded by Gerald Boelte in 1977 and based in Covington, Louisiana, currently produces about 34,000 barrels of oil per day, primarily off the coasts of Louisiana and Mississippi. Harbour said it expects to double LLOG’s Gulf production by 2028.
LLOG’s key assets include floating production systems used in waters as deep as 7,100 feet that include Who Dat in the Mississippi Canyon, and Buckskin and Leon-Castile in the Keathley Canyon, and “subsea tie-backs” to other platforms. The company now operates more than 80 leases in the Gulf.