Updates

Enquest

June 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.

North Sea oil & gas producer Enquest is nicely trading its way out of difficulties caused by low oil prices with final results showing virtually unchanged EBITDA of US$477m (2015: US$474m) even though average realised prices excluding hedging were just US$44.3 / barrel (2015: US$50.9). That reflected successful hedging, which increased average prices to US$63.8 / barrel, 9% higher average production to 39,751 barrels per day and unit operating costs that fell from US$29.7 / barrel to US$24.6.With cash capital expenditure clipped from US$751m to US$610, net debt rose by US$248m to US$1.8bn even though it made significant investment to bring its Kraken field closer to first oil, which should now be Q2 ’17. Helped by its res ...

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Smart Metering Systems

Curtis Banks

Enquest (June 2020)

Enquest (May 2020)

Enquest (January 2020)

Enquest - Debt being paid down quickly (October 2019)

Enquest (July 2019)

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 - Giant Kraken field achieves first oil (August 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)

Enquest (February 2012)

Enquest (October 2011)

Enquest - Large director share purchases make for the strongest buy signal (June 2011)

Enquest (October 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Enquest

June 2017

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