EnQuest Energy and Tullow Oil in favour as Barclays upgrades oil sector
Barclays now increases its sector view to ‘positive’ from ‘neutral’, meanwhile, analyst James Hosie highlighted the upside for EnQuest and Tullow Oil
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 boasts of strong start to 2018 production
"Production performance in January and February was strong and the Group expects a material increase in production in 2018"
Investments and investor services
FTSE 100 closes higher as traders await US interest rate decision
The Footsie has been in consolidation mode for most of the day
Archive
UK inflation data could provide signpost to upcoming Bank of England rate hikes
Day ahead includes February UK inflation numbers, plus results from housebuilder Bellway PLC, online grocer Ocado PLC, and oil services firm John Wood Group PLC
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Markets await interest rate decisions from Bank of England and Federal Reserve
The week ahead includes policy announcements from the Bank of England and Federal Reserve along with corporate earnings from Bellway, Next, Ted Baker, Kingfisher and Wood Group
Investments and investor services
Kin slumps as share suspension looms, elsewhere another ‘shell’ soars after getting deals done
A look at some of today's top risers and fallers in London
Investments and investor services
FTSE 100 ends in red after lacklustre session
The FTSE 100 extended the morning's losses toe end the day 47 points lower at 7,247
EnQuest strikes decommissioning deal with BP for North Sea fields
“The transaction aligns the interests of the parties involved in the production and decommissioning phases, reflecting the industrial logic for the operator to undertake the decommissioning of these assets"
FTSE 100 edges higher as "Spreadsheet Phil" sings 'This old house'
Lloyds's shares were changing hands at a rate of knots, while the house-builders saw some of their recent handsome gains creamed off
Proactive oil & gas highlights: Tullow Oil, EnQuest, Victoria Oil & Gas, Angus Energy, 88 Energy, Rose Petroleum
Well results, funding deals and the start of new campaigns were the source of much of this week's oil and gas highlights.
EnQuest reveals deals to unlock more than US$100mln of liquidity
An US$80mln crude pre-sale arrangement and a US$37.25mln refinancing are part of "a programme of prudent measures" being undertaken by EnQuest
EnQuest expects first Kraken crude cargo in coming days
EnQuest’s group production averaged 37,015 barrels oil equivalent per day in the six months ended June 30
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Biffa, Bovis and Go-Ahead results all due, but ECB policy decision to take centre stage
Some big names are due to publish results on Thursday, but the European Centeal Bank’s decision on interest rates is what most traders will be waiting on
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Barrage of builders to update in week ahead with Brexit concerns remaining key
Week ahead includes updates from a raft of housebuilders, including Barratt Developments, Berkeley Group and Bovis Homes, plus trading news from Halfords Group, and the latest European Central Bank Council meeting
Tullow Oil weak as Jefferies downgrades its rating in review of the exploration & production sector
The US broker cut its stance for Tullow to 'hold' from 'buy' and reduced its target price to 155p, from 250p previously, pointing out that a refinancing in 2017 “remains a risk”
EnQuest has delivered Kraken heavy oil field ‘considerably under budget’
The North Sea oil firm has delivered the Kraken oil field, a US$2.5bn project that’s expected to produce up to 50,000 barrels of oil per day and some 1,000 oil jobs.
Royal Dutch Shell, BP downgraded as leading broker turns bearish on the oil price
Aussie broker Macquarie sees Brent averaging just over US$54 in the second-half, then US$49.33 and US$52.75 a barrel for 2018 and ’19 respectively
OPEC should make the headlines, but Petrofac and other oilfield services firms provide a big, black cloud
Petrofac was the London market’s biggest faller, with its share price plunging by nearly 30% to reach its lowest level since the first half of 2009, wiping around £630mln off its total market value