Harbour Energy posts a positive first-half update as integration of the LLOG portfolio in the U.S. helps deliver record production, Berenberg analysts write. Production growth coincides with a supportive macroeconomic backdrop that is driving cash flow and cutting net debt, they write. The energy company is also making good progress on longer-term growth projects, especially in Mexico and Argentina, they say.

Harbour bought Louisiana-based LLOG Exploration in a $3.2 billion deal last December. Shares rise 3.7% to 241 pence.\n\nHarbour Energy is delivering operational excellence as first-half earnings demonstrate the benefits of the rapid integration of its U.S. assets, Barclays analyst Lydia Rainforth writes. With conflict in the Middle East pushing oil and gas prices higher, Harbour has upgraded its free cash flow guidance.

It has also launched a $250 million buyback for 2026 and has scope for further returns later in the year, she says. Shares rise 3.7% to 241 pence.\n\nBeach Energy’s mini share-price rally over the past month is snuffed out by FY 2027 guidance that misses the mark. Beach falls 3.9% to A$0.855, pitching it back toward nine-year lows.

Beach is targeting output of between 19.5 million and 23.0 million barrels of oil equivalent in FY 2027. At the midpoint, that would represent growth of 9.5% on the 19.4 million barrels of oil equivalent produced in FY 2026. Beach also forecast capital expenditure of A$600 million-A$700 million in FY 2027. “Production and cost guidance for FY27 was a modest miss across the board with all costs coming in higher than expectations, and production weaker at the mid-point,” says RBC Capital Markets analyst Gordon Ramsay.