EnQuest shares rise as it achieves ‘first oil’ at Alma-Galia
Full production is expected in early 2016 after more wells have been opened up
Company
LON:ENQ
EnQuest is an independent oil and gas development and production company. On formation its activities were focused on the UK Continental Shelf (UKCS), with its assets comprising of interests in the Thistle, Deveron, Heather, Broom, West Don and Don Southwest fields.
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Full production is expected in early 2016 after more wells have been opened up
Investments and investor services
MP Evans, DekelOil, Tullow, Cairn, EnQuest, SOCO, Standard Chartered, and Marks & Spencer are in Thursday’s broker spotlight
“The EnQuest equity story is reliant on an oil price recovery," says Numis analyst Sanjeev Bahl
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Below are some of the main news-driven share price movements at 4pm
Enquest said its belt-tightening programme was ongoing and it is now at a point where it costs US$38 to produce a barrel of crude. That figures should be in “low $30s” next year.
Investors will get a glimpse at the mining and pharmaceutical sectors on Wednesday.
Investments and investor services
Deutsche Bank said the timing and drilling locations for three wells in Senegal could be unveiled. While they are in deep waters off the coast of west Africa, they aren’t technically challenging.
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Primark owner Associated British Food rose to the top of the FTSE 100 risers thanks to an upgrade from Goldman Sachs