EnQuest mulls new North Sea investments
"EnQuest has a long track record of investment in the North Sea," said Amjad Bseisu.
Company
EnQuest
LON:ENQ
EnQuest PLC, a powerful new oil & gas production and development company with a geographic focus on the United Kingdom Continental Shelf. The company has been formed from the demerged North Sea interests of Lundin Petroleum and Petrofac. EnQuest’s assets have been contributed by Petrofac and Lundin on a debt free basis.
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Enquest downgraded by Barclays over energy windfall tax
Enquest shares were up around 80% since the start of the year until chancellor Rishi Sunak confirmed the windfall tax last month
EnQuest acquires former Xcite Energy flagship Bentley field for minimal outlay
EnQuest acquires the undeveloped field which neighbours its part-owned Kraken field.
EnQuest shares drop as it confirms 2020 revenue and earnings hit
"The proposed acquisition of the low-cost Golden Eagle area will strengthen our business," said Amjad Bseisu.
Proactive Oil & Gas weekly highlights: EnQuest, United Oil & Gas, Mosman, i3, 88 Energy
It was an eventful week in the small-cap oil and gas sector.
EnQuest divests majority of Eagle discovery in return for ‘free carry’
It will retain a non-operated 15% interest in the North Sea asset.
EnQuest to buy stakes in three producing North Sea fields for US$325mln
The deal to acquire 10,000 barrels per day production plus development upside is classed as a reverse takeover.
EnQuest says 2020 production will land in bottom half of guidance
The company produced an average of 60,777 barrels oil equivalent per day.
Cairn Energy confirms first half production at top end of guidance
Cairn said it is well-positioned with a strong net cash position at the end of the first half.
Enquest says Kraken production was strong, stays cautious over guidance
"The group continues to perform well in challenging conditions, including COVID-19 and the early shutdown of a number of our assets,” said Amjad Bseisu.
EnQuest buys stake in Equinor’s UK offshore Bressay field
The firm will pay £2.2mln payable as a carry against 50% of Equinor's net share of costs
EnQuest output at top end of previously downgraded guidance
Operationally, EnQuest remains materially unaffected by the ongoing COVID-19 pandemic.
EnQuest production presently “not materially affected” by coronavirus
Amid weaker oil prices EnQuest has cut further costs and it today detailed over US$700mln of impairments.
EnQuest downgrades production guidance as it decides to leave Heather and Thistle fields offline
“Given the prevailing low oil price environment, we are taking decisive action to reduce operating and capital expenditure in 2020 and beyond," said chief executive Amjad Bseisu.
EnQuest boasts strong performance amid 24% rise in production
Chief executive Amjad Bseisu described the Kraken field's performance as "excellent".
EnQuest lands new exploration project offshore Malaysia
“The block contains several undeveloped discoveries providing future opportunities for EnQuest to demonstrate its proven capabilities in low-cost drilling and near-field development."
EnQuest highlights strong Kraken performance as production rises
EnQuest maintains its full year guidance for between 63,000 and 70,000 boepd.
If the North Sea is revitalised, what are the best options for investors?
A flurry of asset acquisitions, investments and new field start-ups are all signs that the North Sea "continues to be revitalised”.
EnQuest confident as Magnus and Kraken fields perform well
Amjad Bseisu, EnQuest's chief executive said: “Production is towards the top end of our full year guidance range, our capital programme is on track"
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