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Harbour Energy sees its 2022 cash flow triple to $2.1 billion

LONDON (Reuters) - Harbour Energy, the British North Sea's biggest oil and gas producer, forecast its 2022 cashflow to triple to $2.1 billion on the back of higher prices and despite a rise in tax bills, it said in a trading statement on Thursday.

Its overall tax payments last year more than doubled to $600 million and out of the $350 million UK windfall tax bill for 2022, Harbour said it would pay $150 million in 2023.

Harbour is planning job cuts at its headquarters in Scotland in the wake of the windfall tax, known as the Energy Profits Levy (EPL), the company told Reuters on Wednesday. The EPL means a tax rate of 75% for companies like Harbour.

Harbour expects to produce 185,000-200,000 barrels of oil equivalent per day this year, slightly down from 208,000 boed in 2022.

Harbour expects to be net-debt free this year and "retains" flexibility over an increase to its $200 million dividend plan.

It plans to spend 85% of its $1.1 billion investment programme this year on Britain.

(Reporting by Shadia Nasralla; editing by Jason Neely and Sharon Singleton)