EnQuest Production Rises on Ramped Up New Assets


Nov 12 (Reuters) – Britain's EnQuest Plc reported a 19.2 percent rise in oil production in the first 10 months of the year, helped by new assets in Malaysia and Tunisia – its first producing oil fields outside the North Sea.

Shares in the company rose as much as 7.7 percent to 75.30 pence in early trade on the London Stock Exchange.

Production during January-October rose to 27,567 barrels of oil equivalent per day (boepd).

EnQuest, which specialises in maximizing oil output from old fields, kept its production target for the year at between 25,000-30,000 boepd.

The company said it expected capital expenditure in the UK of $700 million to $800 million for 2015, weighted towards the second half of the year.

EnQuest shares were up 1.5 percent at 71 pence at 0916 GMT.

(Reporting by Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier)



Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Control Coordinator
Expertise: Production Engineering
Location: Houston, TX
Senior Engineer - Systems
Expertise: Subsea Engineering
Location: Wallingford, CT
United States Rock Springs: Field Engineer - Cased Hole
Expertise: Field Development|Field Service Tech
Location: Rock Springs, WY
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours