Updates

Enquest - Giant Kraken field achieves first oil

August 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Enquest has cheered investors with the announcement that its major new Kraken field (70% interest) has achieved first oil on time and on budget and when it ramps up to its peak by 2019 it will produce 35,000 barrels oil equivalent per day (boepd) net to Enquest. This is expected to increase production from an estimated 43,000 boepd in FY’17 to 61,000 in ’18 and 70,266 in ’19.Jefferies notes that at a US$45 / barrel oil price it should halve net debt to US$1.1bn and net debt / EBITDA to 1.7x, although its central forecast scenario – for average US$70 oil – points to net debt / EBITDA of just 0.1x.Earlier Enquest released a production update reaffirming guidance for between 45,000-51,000 boep ...

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Enquest - Debt being paid down quickly (October 2019)

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Enquest (May 2019)

Enquest (March 2019)

Enquest (February 2019)

Enquest (November 2018)

Enquest - Forecast to nearly double oil production to 70,000 boepd by FY19 (June 2018)

Enquest - Kraken oil field will transform cash generation (May 2018)

Enquest (November 2017)

Enquest (June 2017)

Enquest (April 2017)

Enquest - Â£82m equity fund raising boosts balance sheet (December 2016)

Enquest - 43% growth in production (November 2016)

Enquest - North Sea oil firm eyes strong production growth (June 2016)

Enquest - Shares rally as oil bounces (March 2015)

Enquest - North Sea oil producer to double production to 50,000 bopd by 2018 (August 2014)

EnQuest - Pipeline shut-down a small blip (October 2012)

Enquest (July 2012)

Enquest - North sea oil group eyes doubling in production and reserves (June 2012)

Enquest - Eyes 40,000 bopd in 2014 (March 2012)

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