Edition:
United Kingdom

EnQuest PLC (ENQ.L)

ENQ.L on London Stock Exchange

37.50GBp
20 Sep 2018
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Latest Key Developments (Source: Significant Developments)

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

EnQuest says two transactions boost its liquidity by over $100 mln
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - ENQUEST PLC ::LIQUIDITY ENHANCED BY OVER $100 MILLION.‍EXECUTION OF AN $80 MILLION CRUDE OIL PREPAYMENT TRANSACTION AND A $37.25 MILLION REFINANCING FOR ITS TANJONG BARAM PROJECT IN MALAYSIA​.‍TRANSACTIONS DIRECTLY PROVIDE ENQUEST WITH OVER $100 MILLION OF ADDITIONAL FINANCIAL RESOURCES​.  Full Article

Enquest appoints John Winterman as a non-executive director
Thursday, 7 Sep 2017 

Sept 7 (Reuters) - ENQUEST PLC ::APPOINTMENT OF JOHN WINTERMAN AS A NON-EXECUTIVE DIRECTOR OF ENQUEST BOARD WITH EFFECT FROM 7 SEPTEMBER 2017.  Full Article

Enquest posts H1 revenue $294.8 million
Thursday, 7 Sep 2017 

Sept 7 (Reuters) - ENQUEST PLC ::GROUP PRODUCTION AVERAGED 37,015 BOEPD IN H1 2017, (42,520 BOEPD IN H1 2016).CONFIRMS UPDATED 2017 FULL YEAR AVERAGE PRODUCTION GUIDANCE, BEING WITHIN PLUS OR MINUS 10% OF 37,015 BOEPD RATE ACHIEVED IN FIRST HALF OF YEAR.H1 2017 REVENUE OF $294.8 MILLION AND EBITDA OF $151.0 MILLION.FULL YEAR 2017 UNIT OPEX IS NOW EXPECTED TO BE AROUND C.$27/BBL.H1 2017 CASH CAPEX OF $205.1 MILLION, DOWN ON $261.6 MILLION IN H1 2016.FULL YEAR 2017 CASH CAPEX IS EXPECTED TO BE IN $375 MILLION TO $400 MILLION RANGE; TOP END OF RANGE IS REDUCED FROM $425 MILLION.H1 PROFIT FROM OPERATIONS BEFORE TAX & FINANCE COSTS $33.6 MILLION VERSUS $149.7 MILLION A YEAR AGO.FIRST CARGO LOAD OF OIL IS EXPECTED TO BE LIFTED FROM KRAKEN FPSO IN NEXT FEW DAYS."CONFIRMS THAT IT HAS REDUCED KRAKEN'S FULL CYCLE GROSS PROJECT CAPEX BY A FURTHER C.$100 MILLION, DOWN TO $2.4 BILLION".  Full Article

EnQuest aborted sales talks for Kraken stake due to debt deadline - sources

LONDON EnQuest switched from plans to sell a stake in its flagship North Sea oilfield to borrowing money against it after two sets of sale talks had to be abandoned as a deadline for a debt repayment approached, industry and banking sources said.