EnQuest plc has agreed to acquire the proven North Sea Bentley heavy oil discovery from Whalsay Energy Holdings Ltd. OPPORTUNITIES The share purchase agreement (SPA) for 100% equity interest in licence P1078 is through the acquisition of Whalsay’s subsidiary, Whalsay Energy Limited (WEL) on a cash, liability and debt free basis. “This discovery is within […]
Tag: EnQuest plc
EnQuest revenues fall but recovery seen in Golden Eagle
EnQuest plc reported revenues and EBITDA* nearly halved by the end of last year, reflecting lower oil prices and the cessation of production at Heather, Thistle and Alma/Galia following the reorganisation in 2020. But the group, with operations in the UK North Sea and Malaysia, remains optimistic that its proposed acquisition of the Golden Eagle […]
EnQuest farms down 85% of Eagle to Hibiscus for $1
EnQuest plc today announced it had signed an agreement with Anasuria Hibiscus UK Ltd to farm down an 85% working interest in the Eagle discovery in the UK North Sea. EnQuest, which will retain a 15% non-operating working interest, will also transfer the operatorship. Consideration is in the form of a nominal $1 payment due […]
EnQuest to buy Suncor’s North Sea Golden Eagle interest
EnQuest plc said it had agreed to buy Suncor Energy UK’s 26.69% non-operated interest in the producing Golden Eagle area for an initial consideration of $325 million (£235m). The area, in the UK central North Sea, comprises the producing Golden Eagle, Peregrine and Solitaire fields. The company said that the deal, expected to conclude by […]
EnQuest reports losses and reorganises North Sea operations
EnQuest’s revenue nearly halved for the first six months of 2020 compared with the same period last year but production losses were minimised. Th group also decided not to restart production at the Heather/Broom and Thistle/Deveron fields, and to reorganise its UK North Sea business into three directorates of upstream, midstream and decommissioning leading to a […]