EnQuest Appoints New Chairman

EnQuest Appoints New Chairman
EnQuest appoints Martin Houston as chairman of the group.

EnQuest plc revealed Thursday that it has appointed Martin Houston as chairman of the group, with effect from October 1.

Houston will replace Jock Lennox, who will step down from the board on September 30. On joining the board, the new chairman will also become chair of the nomination committee.

Houston was previously the chief operating officer and executive director of BG Group plc. He is currently the co-founder and vice-chairman of Tellurian Inc and a non-executive director of Bupa and CC Energy.

“I am delighted to be joining EnQuest at this exciting time in the company’s development,” incoming EnQuest chairman, Martin Houston, said in a company statement.

“I look forward to working with my board colleagues and the management team as we implement EnQuest’s very clear strategy,” he added.

Outgoing EnQuest chairman, Jock Lennox, said, “I am delighted that Martin Houston has been appointed to the board as my successor”.

“His industry and board experience will be valuable as EnQuest enters its next phase of development. I have thoroughly enjoyed my time working with my colleagues on the EnQuest board and much has been achieved, with EnQuest well placed to deliver on its strategy,” he added.

EnQuest is a production and development company with operations in the UK North Sea and Malaysia. The company was formed in 2010 through the combination of the UK North Sea assets of Petrofac and Lundin Petroleum. In 2014, the group acquired its interests in Malaysia.

In its 2019 half year results, which were also announced on Thursday, EnQuest reported a gross profit of $269.9 million in 1H, which marked an increase of 167.8 percent from 1H 2018. Group net production averaged 68,548 barrels of oil equivalent per day in 1H, which was a 27 percent increase from the same period last year.

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