EnQuest plc plans to delist from Nasdaq Stockholm because of additional compliance costs when it no longer had a legal or physical presence in Sweden. EUROPEAN UNION The company depends on external support to ensure compliance with Nasdaq Stockholm, which had created the additional unexpected expense. The formal application for delisting will be submitted to […]
Tag: EnQuest plc
EnQuest appoints Michael Borrell as NED
EnQuest plc has appointed Michael Borrell as a non-executive director with effect from 5 September 2023. He will also the sustainability committee and governance & nomination committee. Mr Borrell is an operator of large-scale exploration and production assets with more than 35 years’ experience at TotalEnergies, including managing the integration of the Maersk Oil business. […]
EnQuest agrees second lien loan of up to $150m
EnQuest plc has agreed a loan of up to $150 million, including $9m from its chief executive officer’s family, as a secured second lien instrument. DOUBLE A Mature in July 2027, the loan ranks junior to the group’s existing $500m reserve based lending facility (RBL) of which the company had drawn $240m as at 31 […]
EnQuest pays total £163.8 million to governments
EnQuest plc paid an aggregate £163.8 million to governments for the year ended 31 December 2022. JURISDICTIONS The group paid £39.2 million in the UK and £124.6m in Malaysia. Payments include production entitlements, taxes, royalties and fees for its oil and gas assets in both jurisdictions.
EnQuest production at top end of guidance
EnQuest plc reported strong operational performance for the first quarter of the year with production at the top end of guidance range for 2023. INTEGRITY Average group production was 47,725 boepd, based upon strong “uptime” across the company’s portfolio. Magnus well work programme for 2023 has started, with three wells returned to service following P […]
EnQuest to increase Seligi gas field production
EnQuest plc has agreed to increase gas production from the Seligi field until the end of 2025 to support Peninsular Malaysia’s gas demand. SELIGI The group became operator of Seligi in 2014 and brought its first horizontal well on stream in June 2022. ASSESSMENT The agreement, on behalf of the PM8 (extension) production sharing contract […]