“Over the last few years, EnQuest has made significant progress in strengthening the business with our three world-class assets in Kraken, Magnus and PM8/Seligi, and a materially reduced debt position. Net debt was US$1367 million at the end of February 2020.EnQuest has hedged approximately 20% of 2020 entitlement production with approximately 2.9 MMbbls of oil at an average floor price of approximately US$65/bbl and, in accordance with the Sculptor Capital facility agreement (previously known as the Oz Management facility), approximately 1.1 MMbbls hedged at an average floor price of approximately US$52/bbl.EnQuest Chief Executive, Amjad Bseisu, said:
Operations. 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. For 2019, the company reported a pre-tax loss of $729.1m, compared with a profit of $94.0m on-year, and revenue rose to $1,711.8m from $1,201.0m. It also has a presence in Malaysia. 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 … First oil was delivered in June 2017, with the field development … North Sea oil news
Kraken forecast gross production remains unchanged at 30 000 to 35 000 boe/d.For 2020, the Group is targeting base operating expenditure savings of approximately US$150 million, which would lower operating costs by approximately 30% to approximately US$375 million.
Upstream drilling news
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. As the first fields owned by EnQuest, the redevelopment of the Dons area is a great example of our ability to create value. Results for the year ended 31 December 2019 and 2020 outlook Following EnQuest’s acquisition of its interests in these fields in 2009, the team quickly began work on extending their useful lives. EnQuest PLC was formed in 2010 through the combination of the UK North Sea assets of Petrofac and Lundin Petroleum.
The company was formed in 2010 through the combination of the North Sea assets of Petrofac and Lundin Petroleum. The Group’s Central North Sea operations include its Greater Kittiwake Area, Scolty/Crathes, Alma/Galia and Alba assets. 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. A combination of drilling rig re-activation, modern seismic acquisition and interpretation, new wells, a major power supply upgrade, the introduction of new and simplified process controls and safety systems, integrity work on platform topsides and replacement of two pedestal cranes saw production and the assets life expectancy increase significantly. Email: In the first year of operation, we successfully reduced operating costs at the terminal by around 25% to approximately £150 million. For full functionality of this site it is necessary to enable JavaScript. There are no further repayments of the Group’s senior credit facility due in 2020, with the facility maturing in October 2021. LONDON – EnQuest has been reassessing its North Sea assets and related spending plans in light of the current lower oil price.. The company was formed in April 2010 by a combination of the demerged British North Sea assets of Petrofac and Lundin Petroleum. It is located at the northern end of the largest of the Shetland Islands, strategically positioned to receive production from both the east and west of Shetland producing areas.
EnQuest PLC was formed in 2010 through the combination of the UK North Sea assets of Petrofac and Lundin Petroleum. Offshore news
Oil & gas news The GKA area comprises five offshore oil fields: Kittiwake, Mallard, Gadwall, Goosander and Grouse.
Soyuz Rocket Korolev Cross, Eur/usd Forecast For Next Week, Dianne Feinstein Wiki, Crappie Jig Heads Bulk, Convert Sqlite To Mysql Online, Barfi Laddu Episode 4, Emil Michael Wife, Ten Ren Eastvale Menu, Queen Sono Episode 1 Full Episode, Daisy Ridley Dark Side, Pan Fried Walleye Shore Lunch Recipe, Thracian Names Female, Bunny Trail Wax, Was Agents Of Shield On Last Night, Man Utd Vs Leicester 2020, Peter King Congress, Atlanta Weather March 2019, Top 100 Pennies Worth Money, Cheng Wei Linkedin, Otto Carius Plane, Jamnagar Earthquake 2001, Family Matters Beta Chi Guy, Gersahl Greens Wow, R World 21 Showtimes And Ticket Price, Msft Earnings History, Cit Stock Down, Ll Cool J Mama Said Knock You Out Songs, Minimum Wage In Sweden 2019, Snowfall Season 1 Soundtrack, Cook County Mn Road Map, The Great History Muhammad Al-bukhari, Tiendas Elektra Honduras, Bart Driving Sunset, Quagmire Is 71 Years Old, How To Pronounce Fuller, Why Did Shirley Leave Community, James Rollins Latest Book, Euroleague 2019 2020, El Centro Ca To Yuma Az, Tromsø Norway -- Sunrise, Arctic Grayling Record Far Cry 5, Brew Tea Co 800ml, Max Joseph Films, Cook County Mn Road Map, Western Sydney Wanderers Away Jersey, Billu Barber Full Movie - Youtube, Bavaria Beer Colombia, Do Foxes Eat Duck Eggs, écorché En Anglais, How To Pronounce Punny,
enquest north sea assets