enquest north sea assets

EnQuest PLC was formed in 2010 through the combination of the UK North Sea assets of Petrofac and Lundin Petroleum. Magnus has significant potential, with only around half of the c.2 billion barrels of oil equivalent in place recovered at the end of 2018.The Sullom Voe Terminal is one of the largest oil terminals in Europe. Boepd produced in 2019 Following EnQuest’s acquisition of its interests in these fields in 2009, the team quickly began work on extending their useful lives. A spokeswoman for Petrofac said: “EnQuest decided at the end of 2018 to take these roles in-house and the process concluded yesterday following a safe and smooth transition.” It comes after EnQuest announced a review of rota patterns for several North Sea assets in February to help streamline the business. Upstream news The deal makes Chrysaor one of the largest producers in the U.K. North Sea.

Strong production supports full year 2020 guidance with forecast free cash flow breakeven unchanged at c.$33/Boe In 2014, the Group acquired its interests in Malaysia. Greater Kittiwake Area. EnQuest is focusing investment in the North Sea on assets which it reckons have long term potential, including the giant Kraken field off Shetland. EnQuest, listed on the LSE market (ENQ.L), is one of the largest independent production and development companies operating in the North Sea. 24% production growth; material debt reduction with net debt:EBITDA at 1.4x EnQuest is a production and development company, with operations in the UK North Sea and Malaysia. Shares in the Company trade on both the London Stock Exchange and the NASDAQ OMX Stockholm (ENQ.L and ENQ.ST).To be the operator of choice for maturing and underdeveloped hydrocarbon assets.Kraken, Magnus, The Dons, Greater Kittiwake Area and PM8/Seligi There are no further repayments of the Group’s senior credit facility due in 2020, with the facility maturing in October 2021. First oil was delivered in June 2017, with the field development … We continue to target additional value-adding short-cycle opportunities.In March, EnQuest announced it no longer expects to re-start production at the Heather field following production being shutdown in late 2019.EnQuest’s acquisition of an initial interest in Magnus in 2017 was welcomed by all stakeholders as having the “right assets in the right hands” and reflected our production improvement and life-extension successes at our other assets. StockMarketWire.com - Oil company Enquest swung to a loss as higher revenue and production was offset by a writedown in its North Sea assets amid …

EnQuest has announced that it will not re-start production at the Heather and Thistle/Deveron fields in the North Sea. Offshore news LONDON – EnQuest has agreed to acquire from Equinor a 40.81% interest in the undeveloped Bressay heavy oil field in the UK northern North Sea.

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