EnQuest plc Company News

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EnQuest Profits Slide On Slower Kraken Oilfield Ramp-Up
Thursday, September 07, 2017 EnQuest reports a sharp drop in first-half profits on lower production and delays in ramping up its flagship Kraken oilfield.

Kraken 2Q Start-up 'On Track'
Friday, February 17, 2017 EnQuest plc reveals that the Kraken development is progressing and the delivery of first oil in 2Q is on track.

Unite Pledges to Protect BP Workers in EnQuest Transfer
Wednesday, January 25, 2017 The UK's Unite union pledges to make sure the rights of BP plc workers are protected in the wake of the company's decision to transfer operations at the Magnus oil field and SVT to EnQuest.

BP to Sell Stake in UKCS Magnus Field, Sullom Voe Terminal
Tuesday, January 24, 2017 BP plc agrees to sell part of its interests in the Magnus oil field and Sullom Voe Terminal (SVT) to EnQuest.

UK Government Support Package Needed for Scolty/Crathes Job Creation
Tuesday, November 22, 2016 A UK government support package is required to achieve the job generation potential from the start-up of the Scolty/Crathes development in the North Sea.

EnQuest Achieves First Oil from North Sea Scolty/Crathes Project
Monday, November 21, 2016 Independent energy firm EnQuest achieves first oil from the Scolty/Crathes development, located in the central North Sea.

EnQuest Launches Financial Restructuring
Thursday, October 13, 2016 The board of EnQuest plc launches a proposed financial restructuring, which it has agreed with key stakeholders following an extensive period of engagement and negotiation.

Bumi Armada to Pay $85M in Reimbursement, Liquidated Damages for FPSO
Friday, September 16, 2016 Malaysia's Bumi Armada to pay $85 million in reimbursement and liquidated damages for delay in delivery of FPSO (floating production storage and offloading) Kraken.

EnQuest, Delek Group End Kraken Oilfield Stake Sale Talks
Thursday, September 15, 2016 Oil producer EnQuest plc ends talks with Israeli conglomerate Delek Group Ltd regarding a potential stake sale in an oilfield in the North Sea.

EnQuest Cuts Production, CAPEX
Thursday, September 08, 2016 EnQuest has cut its average production guidance for 2016 to between 42,000 and 44,000 barrels of oil equivalent per day and expects its 2016 capital expenditure to be reduced by around $30 million.

Uzma Unfazed by Concerns Over Berantai, Balai RSC Cessations in Malaysia
Monday, August 08, 2016 Malaysia's Uzma does not see any impact arising from the recent cessations of Risk Service Contracts (RSC) in the country on the RSC for the Tanjung Baram oil field offshore Sarawak.

EnQuest in Talks to Sell 20% Stake in Kraken Oilfield to Israel's Delek
Monday, July 18, 2016 EnQuest is in talks to sell a 20-percent stake in the North Sea's Kraken oilfield to Israeli conglomerate Delek Group, according to the companies.

Dana Petroleum Raises Concerns Over EnQuest North Sea Discovery
Tuesday, July 05, 2016 Dana Petroleum Limited has raised concerns over EnQuest's recently drilled Eagle exploration well in the central North Sea.

EnQuest Hits Oil at North Sea Eagle Well
Friday, July 01, 2016 EnQuest discovers oil at its 100% owned Eagle exploration well, located in the North Sea.

Oil Explorers Embrace the Sharing Economy to Drill Cheaper Wells
Wednesday, June 22, 2016 The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible.

Cairn, EnQuest Acquire First Oil's Kraken Stake
Monday, February 22, 2016 Cairn Energy and EnQuest acquire First Oil's 15% interest in the Kraken development in the UK North Sea after the Aberdeen-based company enters administration.

North Sea: Indies, Juniors Driving Exploration, Development in 2016
Tuesday, January 12, 2016 Rigzone takes a look at the 2016 exploration and field development plans of junior and independent oil and gas firms focused on the North Sea region.

PETRONAS Says Oil Production Commences at Tanjong Baram Field Off Sarawak
Wednesday, January 06, 2016 PETRONAS says oil production has commenced at the Tanjong Baram field in Block SK307 offshore Sarawak, Malaysia.

Petrofac Secures Contract Extensions with Two Key UKCS Customers
Monday, December 14, 2015 Oilfield services firm Petrofac secures $400 million worth of contract extensions with two key customers on the UK Continental Shelf.

EnQuest Achieves Strong 2H Production, Lower Opex
Tuesday, December 08, 2015 North Sea-focused producer EnQuest achieves strong production during the second half of 2015 and expects to significant drop its unit operating cost to less than $28 per barrel.

EnQuest Produces 1st Oil from New North Sea Field
Wednesday, October 28, 2015 Oil company EnQuest says its new Alma/Galia field in the UK North Sea has produced its first oil.

Magma Signs Development Agreement with BP, Subsea 7
Monday, September 14, 2015 Magma Global signs a joint development agreement with BP and Subsea 7, which will target the company's 6 to 12 inch m-pipes for risers and jumper systems for deepwater environments.

Oil Industry Needs to Find Half a Trillion Dollars to Survive
Thursday, August 27, 2015 At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it.

EnQuest Reports 'Solid' First-Half Results
Wednesday, August 19, 2015 Analysts judge EnQuest's first-half results, which included a 20.2-percent decrease in EBITDA profit, as 'solid' amid the lower oil price.

OGA Names Final Winners from 28th Offshore Licensing Round
Monday, July 27, 2015 The UK's Oil and Gas Authority announces the remaining winners from the 28th Offshore Licensing Round, which covers 353 blocks on the UK Continental Shelf.

EnQuest Appoints New Non-Executive Director
Thursday, June 25, 2015 EnQuest announces the appointment of Phil Holland as a Non-Executive Director, effective August 1, 2015.

EnQuest Reports 'Strong Operational Performance'
Friday, May 15, 2015 EnQuest sees a 'strong operational performance' during the first quarter, with production up 20.2 percent at 30,768 barrels per day.

EnQuest Says To Increase North Sea Investments After Tax Cuts
Thursday, March 19, 2015 EnQuest says it will be able to invest more money in some of its North Sea oil fields after Britain announced cuts to oil and gas taxes.

Cheap Oil Threatens Debt Squeeze for Smaller UK North Sea Producers
Monday, March 02, 2015 Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves, following last year's oil price sell off.

EnQuest Cuts Capital Spending by 40%
Friday, January 23, 2015 EnQuest to spend only $600 million on capex in 2015 – representing a reduction of 40 percent on its prior spending plan.

EnQuest Production Rises on Ramped Up New Assets
Wednesday, November 12, 2014 EnQuest reports a 19-percent increase in oil production during the first 10 months of 2014.

Seven Winners at 'Biggest Ever' Oil & Gas UK Awards
Friday, November 07, 2014 Aberdeen sees 650 people from across the UK oil and gas industry gather to honor the country's most innovative and enterprising companies and professionals.

EnQuest Awards Technip Kraken Contract
Tuesday, October 28, 2014 Technip is selected for an EPCI contract for the Kraken development by EnQuest.

EnQuest to Buy ExxonMobil's Stakes in 2 Producing Assets Offshore Malaysia
Friday, June 13, 2014 EnQuest inks agreement to acquire ExxonMobil's interests in Seligi oil field and PM8 production sharing contract offshore Peninsular Malaysia for $67 million.

Petrofac Gets $630M Contract For EnQuest's North Sea Assets
Wednesday, May 28, 2014 Petrofac receives a contract worth $630 million to provide operations and maintenance services at EnQuest's North Sea assets.

Petronas Expects First Production from Tanjong Baram Field in March 2015
Monday, April 07, 2014 Petronas expects to commence production at the Tanjong Baram field offshore Sarawak, Malaysia in March 2015.

Uzma-Enquest JV Inks Contract to Develop Tanjong Bram Field Offshore Lutong
Wednesday, April 02, 2014 Uzma and Enquest ink a contract with Petronas Carigali to develop and produce hydrocarbon from Tanjong Bram field, offshore Lutong, Malaysia.