EnQuest has completed its acquisition of Suncor’s stake in the Golden Eagle field in the UK North Sea.
The company announced the deal to buy the 26.69% stake in the CNOOC-operated asset in February.
EnQuest was re-admitted to the London Stock Exchange on Monday morning.
The company previously said the purchase would give it additional production of 10,000 barrels of oil equivalent per day and reserves of 18 million barrels.
Golden Eagle, which lies 70miles north-east of Aberdeen, produced first oil in 2014.
EnQuest chief executive Amjad Bseisu said: “We are delighted to have completed the acquisition of a material interest in the high-quality, low-cost Golden Eagle development. As a highly cash generative asset, delivering material incremental production, reserves and resources, Golden Eagle is a great addition to our portfolio, further strengthening the Company.
“We look forward to a productive partnership with the operator, CNOOC and our joint venture partners, NEO Energy and ONE DYAS.”
Earlier this year, EnQuest secured a new £530m sebior secured borrowing base debt facility to help fund the purchase, and carried out a £36m equity raise to bolster the balance sheet.
The firm has been on something of an acquisition spree to replenish its depleted North Sea portfolio.
EnQuest has recently called time on its Thistle, Heather, Alma-Galia and Dons fields.
In June, the company completed a deal to acquire the Bentley field from Whalsay Petroleum, which followed a £2m acquisition of the nearby Bressay field from Equinor.
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