EnQuest shares rally as financial results confirm confidence in Kraken
EnQuest told investors that it continues to expect Kraken will achieve gross production of 30,000 to 35,000 barrels of oil per day this year
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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Independent and small-cap oilers drive growth in the UK North Sea
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Row breaks out between North Sea partners as Cairn downgrades Enquest's Kraken field
In barrel terms, Cairn cut off around 6.8mln from the field’s crude endowment
‘Alternative facts’ see EnQuest shares slump as Cairn downgrades Kraken field
EnQuest shares dropped almost 10% after Kraken field partner Cairn downgraded reserves and made a US$166mln impairment on the heavy oil field's book value - but, EnQuest sees things differently.
EnQuest to be comfortably within debt covenants with production set to soar
Average gross production in 2018 at the Kraken field was 30,310 barrels of oil per day, which was below expectations. Production was limited by a number of weather-related and production system outages
RBC takes back EnQuest debt warning but keeps heavy downgrade
Lower oil prices and downgraded performance sets EnQuest up for challenging period, according to RBC.
EnQuest sees 20% production growth in 2019 due to Magnus acquisition
"We have continued to deliver in line with our 2018 production targets,” said Amjad Bseisu, EnQuest chief executive
North Sea oil and gas spend could top £300bn over next 30 years, study shows
Professors at Aberdeen University found that the Oil and Gas Authority’s hopes that a further 14.9bn barrels could be recovered from the UKCS by 2025 were realistic
North Sea revival continues as BP and Shell's Shetland venture gets green light
BP and Shell received approval for their JV to drill at the Alligin field - part of the Greater Schiehallion area - off the west of Shetland
EnQuest set for $20mln cash boost as it confirms exercise of Magnus option with BP
The transaction to acquire all of Magnus, Thistle and Deveron will lift reserves and production volumes
West of Shetland discoveries point to new growth for offshore UK
The narrative around the North Sea’s demise is both exaggerated and premature, but, the 'blue sky' very much remains in the West of Shetland region
EnQuest downgraded by Barclays amid concerns over complexity
Barclays set a new price target of 45p, down from 60p, which compares to a market price of 36.85p
FTSE 100 closes higher as traders come back to equities
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EnQuest buys rest of Magnus fields from BP, production up in first half
Taking all of the Magnus assets gives EnQuest 60mln barrels of reserves and will add significant additional production volumes