EnQuest Chips Away at Debt, Plans Drilling

September 5, 2019

(Photo: EnQuest)
(Photo: EnQuest)

North Sea focused oil firm EnQuest is chipping away at its debt pile, which was at around $1.6 billion at the end of June, it said on Thursday, reiterating its output guidance of between 63,000 and 70,000 barrels per day this year.

EnQuest's net debt stood at around $1.77 billion at the end of last year.

The group, which had a market cap of around $380 million on Wednesday, is planning to drill two wells in the Worcester part of its Western Flank area, where it sees a reservoir of around 100 million barrels.


(Reporting by Shadia Nasralla; editing by Jason Neely)



Current News

Orsted Inks Taichung Lease for OWF

Orsted Inks Taichung Lease for OWF

LQ Installed at Qatargas' North Field Bravo

LQ Installed at Qatargas' North Field Bravo

Global Offshore Charters Normand Clipper

Global Offshore Charters Normand Clipper

UTEC Wraps Survey Work for McDermott

UTEC Wraps Survey Work for McDermott

Subscribe for OE Digital E‑News

Offshore Engineer Magazine