Bosses at EnQuest said yesterday they were confident of addressing natural production decline at the firm’s core oilfields, adding they have plenty of “ammo” left.
Exploration and production firm EnQuest managed to reduce its debt pile to its lowest level since 2014 and narrow its losses in 2020 despite the oil price slump.
BP is fielding final bids from a handful of junior energy companies for its North Sea assets, according to people familiar with the matter.
EnQuest said today that work to halt production from the Dons fields in the UK North Sea had begun.
Transparency in reporting is producing results, with most operators showing year on year improvements towards gender balance. We encourage all employers to publish their data without delay, and use it to drive their action plans. With metrics like the median pay gap (-3% to 46%), percentage of women at the top (5% to 35%) and percentage of women overall (11% to 41%) varying massively between organisations, it’s clear balance is attainable within our industry but it takes sustained determination at all levels of leadership.
Profits at Bumi Armada jumped last year thanks to a strong showing from its Armada Kraken FPSO in the North Sea.
EnQuest has agreed to farm-down an 85% stake in its Eagle discovery in the North Sea to Anasuria Hibiscus for a “nominal” $1 fee.
Petronas MPM hopes to lure investors to Malaysia’s shallow-water and late-life assets after revealing new fiscal terms as part of an ongoing effort to revive its domestic upstream sector. The move could help Malaysia steal a march on neighboring countries.
North Sea operators including Shell, BP, EnQuest and Premier Oil have all seen their shares jump in light of the oil price rally.
EnQuest has struck a deal to buy Canadian firm Suncor's 26.69% stake in the Golden Eagle area of the UK North Sea for £240 million.
The former boss of Malaysian national oil company (NOC) Petronas, Tan Sri Wan Zulkiflee, has joined ExxonMobil’s board of directors, in a move that has surprised some industry watchers.
A Greenpeace investigation has named the five worst firms for flaring and venting in the UK North Sea, emitting nearly 20million tonnes of CO2 equivalent between 2015-2019.
West of Shetland operators are working with “serious intent” to get huge new oil projects “to a net zero outcome”, according to the head of a major clean energy scheme on the islands.
London-listed EnQuest said today it had completed the £13 million acquisition of a stake in the Bressay field from Equinor.
Scottish oil and gas firm Cairn Energy said today that its partners’ North Sea Catcher and Kraken fields were expected to “enter their natural decline phase” this year.
EnQuest has launched a legal claim against BP worth nearly £26 million for allegedly failing to pay invoices relating to Sullom Voe Terminal in Shetland.
North Sea firms ranging from BP to Hurricane Energy have enjoyed share price hikes after a deal was reached by OPEC to curb oil production.
The chief operating officer of Maersk Drilling has said its deal with fledgling explorer Seapulse, targeting four billion barrels worldwide, is “still alive”, despite news going quiet over the last year.
EnQuest is targeting a sailaway date “early” in the second quarter of next year for its Northern Producer vessel.
An EnQuest boss said today that treating some of its platforms like "Airbnbs" was helping the firm prepare a northern North Sea neighbour for up-manning.
The North Sea boss of EnQuest has said the firm is “very interested” in a joint-operator decommissioning approach, but “someone needs to take the lead”.
EnQuest said today its debt had risen and full-year production would be in the lower half of its guidance range of 57-63,000 barrels per day.
The number of public listed North Sea operators that could be a suitable fit for a reverse takeover have “diminished significantly”, according to an industry experty.
The reverse takeover model could become more of a permanent fixture in the North Sea in the coming years as more private-equity (PE) backed operators look to go public.
Workers have been flown off a platform in the Central North Sea over fears about an outbreak of Covid-19 on board.