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)

Categories: Finance Drilling Europe


Current News

Australia Reviewing Equinor Environmental Plan

Australia Reviewing Equinor Environmental Plan

Equinor, SSE Win Contract for Largest Offshore Wind Project

Equinor, SSE Win Contract for Largest Offshore Wind Project

Liberator Pilot Well Plugged and Abandoned

Liberator Pilot Well Plugged and Abandoned

Petrofac Sells Mexico Assets to Perenco

Petrofac Sells Mexico Assets to Perenco

Petronas Q2 Profit Rises 8%

Petronas Q2 Profit Rises 8%

Allseas Scores Gyda Platform Removal Job

Allseas Scores Gyda Platform Removal Job

Monitoring, and Addressing, Crude Quality in Real-time

Monitoring, and Addressing, Crude Quality in Real-time

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week