Edition:
United Kingdom

EnQuest PLC (ENQ.L)

ENQ.L on London Stock Exchange

22.90GBp
22 May 2019
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Latest Key Developments (Source: Significant Developments)

Enquest Says FY Pretax Profit Rises To $290 Mln From $47 Mln A Yr Ago
Thursday, 21 Mar 2019 

March 21 (Reuters) - EnQuest PLC ::FY PROFIT BEFORE TAX & NET FINANCE COSTS $290 MILLION VERSUS $47.3 MILLION AS REPORTED A YEAR AGO.FY REVENUE AND OTHER OPERATING INCOME $1,201 MILLION VERSUS $635.2 MILLION AS REPORTED A YEAR AGO.FY REALISED OIL PRICE $61.2/BBL VERSUS $52.2/BBL AS REPORTED A YEAR AGO.EXPECT NET DEBT TO EBITDA RATIO TO TREND TOWARDS 2X THIS YEAR AND INTEND TO OPERATE WITHIN 1-2X TARGET IN FUTURE.ACQUISITION OF MAGNUS ARE IMPROVING PERFORMANCE ABOVE ORIGINAL EXPECTATIONS.OPPORTUNITIES FOR LOW-COST MATERIAL GROWTH IN NEAR-FIELD, SHORT-CYCLE INFILL AND TIE-BACK INVESTMENTS, AT MAGNUS, PM8/SELIGI AND KRAKEN.LONGER TERM, CAPITAL ALLOCATION WILL BALANCE INVESTMENT TO DEVELOP ASSET BASE, RETURNS TO SHAREHOLDERS AND ACQUISITION OF SUITABLE GROWTH.  Full Article

Enquest Sees 2019 Oil Production To Rise 20 Pct
Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - EnQuest PLC ::OPERATIONS UPDATE.2018 PRODUCTION ON TARGET, MAGNUS ACQUISITION COMPLETED AND DEBT REDUCTION IN PROGRESS.2019 PRODUCTION EXPECTED IN RANGE OF 63,000 BOEPD TO 70,000 BOEPD.EXPECT TO PRODUCE BETWEEN 54,000 BOEPD AND 56,000 BOEPD THIS YEAR.  Full Article

Enquest Gets 95.51 Pct Valid Acceptances Of Total Shares Offered Under Rights Issue
Monday, 22 Oct 2018 

Oct 22 (Reuters) - EnQuest PLC ::ENQUEST - AS ON 19 OCTOBER 2018, CO VALID ACCEPTANCES IN RESPECT OF 485.5 MILLION NEW SHARES UNDER RIGHTS ISSUE.ENQUEST PLC - GOT VALID ACCEPTANCES REPRESENTING ABOUT 95.51% OF TOTAL NUMBER OF NEW SHARES OFFERED UNDER RIGHTS ISSUE.  Full Article

EnQuest hopeful on "moving forward" on option to increase stake in Magnus
Tuesday, 20 Mar 2018 

March 20 (Reuters) - Enquest Plc ::ENQUEST SAYS VERY HOPEFUL THAT "WE CAN MOVE FORWARD" ON OPTION WITH BP TO INCREASE STAKE IN MAGNUS FIELD IN NORTH SEA.  Full Article

Enquest Plc Says ‍2017 EBITDA Of $303.6 Million
Tuesday, 20 Mar 2018 

March 20 (Reuters) - Enquest Plc ::‍2017 REVENUE OF $635.2 MILLION (2016: $849.6 MILLION) AND EBITDA OF $303.6 MILLION (2016: $477.1 MILLION)​.FY 2018 GUIDANCE RANGE OF ABOUT 50,000 TO 58,000 BOEPD.‍GROUP PRODUCTION AVERAGED 37,405 BOEPD IN 2017, DOWN 5.9% ON 2016​.2017 ‍CASH GENERATED FROM OPERATIONS OF $327.0 MILLION (2016: $408.3 MILLION)​.SAYS 2018 UNIT OPEX EXPECTED TO BE C.$24/BOE, INCLUDING COSTS ASSOCIATED WITH PLANNED WORKOVERS.SAYS 2018 CASH CAPITAL EXPENDITURE EXPECTED TO BE C.$250 MILLION.2017 ‍CASH CAPITAL EXPENDITURE OF $367.6 MILLION (2016: $609.2 MLN0​.SAYS 2018 KRAKEN FULL CYCLE GROSS PROJECT CAPITAL EXPENDITURE FURTHER REDUCED TO ABOUT $2.3 BILLION.  Full Article

Enquest Says FY 2018 Average Group Production Expected To Grow By Between 33% And 55%
Monday, 19 Feb 2018 

Feb 19 (Reuters) - Enquest Plc ::2017 PRODUCTION IN LINE WITH GUIDANCE; MATERIAL PRODUCTION GROWTH EXPECTED IN 2018.2017 GROUP PRODUCTION AVERAGED 37,405 BOEPD IN 2017, IN LINE WITH GUIDANCE..2017 GROUP PRODUCTION AVERAGED 37,405 BOEPD IN 2017, IN LINE WITH GUIDANCE.2017 OPERATING EXPENDITURE EXPECTED TO BE APPROXIMATELY $350 MILLION, WITH UNIT OPEX OF C.$25.5/BOE.2017 CASH CAPITAL EXPENDITURE EXPECTED TO BE APPROXIMATELY $370 MILLION, BELOW GUIDANCE RANGE.2018 ‍AVERAGE GROUP PRODUCTION EXPECTED TO GROW BY BETWEEN 33% AND 55% AT C.50,000 TO 58,000 BOEPD​.2018 ‍UNIT OPEX EXPECTED TO BE C.$24/BOE, INCLUDING COSTS ASSOCIATED WITH PLANNED WORKOVERS​.  Full Article

Enquest Says Agreement With BP On Thistle Decommissioning
Wednesday, 31 Jan 2018 

Jan 31 (Reuters) - Enquest Plc ::AGREEMENT WITH BP ON THISTLE DECOMMISSIONING.HAS AGREED WITH BP TO UNDERTAKE MANAGEMENT OF PHYSICAL DECOMMISSIONING ACTIVITIES FOR THISTLE AND DEVERON.ENQUEST WILL RECEIVE $30 MILLION IN CASH IN EXCHANGE FOR UNDERTAKING MANAGEMENT OF PHYSICAL DECOMMISSIONING.ENQUEST'S CURRENT ESTIMATE OF ITS EXPOSURE TO DECOMMISSIONING COSTS IS LOWER THAN $30 MILLION CASH BEING RECEIVED.ENQUEST WILL ALSO HAVE AN OPTION, EXERCISABLE OVER A 12 MONTH PERIOD, TO RECEIVE A FURTHER $20 MILLION IN CASH.  Full Article

EnQuest Says Neil McCulloch To Step Down As Chief Operating Officer
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Enquest Plc ::‍DIRECTORATE CHANGE​.NEIL MCCULLOCH IS STEPPING DOWN TODAY AS CHIEF OPERATING OFFICER AND EXECUTIVE DIRECTOR OF ENQUEST PLC BY MUTUAL AGREEMENT​.  Full Article

Enquest Says Completed Acquisition Of Initial 25 pct stake In Magnus Oilfield
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Enquest Plc ::COMPLETION OF ACQUISITION.‍COMPLETED ACQUISITION OF INITIAL 25% INTEREST IN MAGNUS OIL FIELD, 3.0% INTEREST IN SULLOM VOE OIL TERMINAL, SUPPLY FACILITY.  Full Article

Enquest says FY ‍2017 Opex and Capex guidance remain unchanged​
Thursday, 30 Nov 2017 

Nov 30 (Reuters) - ENQUEST PLC ::‍KRAKEN PRODUCTION RATE ON PLAN​.‍KRAKEN IS ACHIEVING MONTH ON MONTH INCREASES IN PRODUCTION AND BY EARLY NOVEMBER AVERAGE PRODUCTION RATES WERE AROUND 23,000 BOPD GROSS​.‍ENQUEST CONTINUES TO EXPECT PRODUCTION AT KRAKEN TO REACH 50,000 BOPD GROSS DURING H1 2018​.‍GROUP PRODUCTION AVERAGED 35,410 BOEPD IN TEN MONTHS TO END OCTOBER 2017​.‍ENQUEST CONFIRMS 2017 FULL YEAR AVERAGE PRODUCTION GUIDANCE RANGE REMAINS UNCHANGED​.‍FULL CYCLE GROSS KRAKEN PROJECT CAPEX IS ESTIMATED TO BE C.$2.4 BILLION, 25% DOWN ON ORIGINAL SANCTIONED COST OF $3.2 BILLION​.‍2017 FULL YEAR OPEX AND CAPEX GUIDANCE ALSO REMAIN UNCHANGED​.  Full Article

UPDATE 2-Conoco sells UK North Sea oil assets to Chrysaor for $2.7 bln

LONDON, April 18 U.S. energy group ConocoPhillips has agreed to sell its oil and gas assets in the British North Sea to private equity-backed Chrysaor for $2.68 billion, Conoco said on Thursday, making Chrysaor the biggest producer in the region this year.