First oil from two UK North Sea fields is on track to arrive sooner than expected.
EnQuest said today that the production and storage vessel for its flagship North Sea Kraken development has left a yard in Singapore.
EnQuest’s boss hailed the firm as the “future of the North Sea” yesterday after revealing financial restructuring plans that include a share placing worth £82million.
EnQuest has stripped another $100million (£82million) off the cost of Kraken, one of the UK North Sea’s biggest oil prospects.
EnQuest said it plans to launch a proposed issuance of equity through a placing and open offer deal which could raise £82million.
A potential farm-out deal for one of the UK North Sea’s biggest oil prospects has collapsed.
Enquest today confirmed its discussions with Delek regarding a possible North Sea farm-out have officially "terminated".
Bosses at EnQuest said yesterday that avoiding “North Sea premiums” had helped the firm bring down its operating costs to $23 per barrel in the first half of 2016.
Enquest today confirmed it whittled its operating costs down to $23 per barrel for the first half of the year.
Enquest’s chairman has stepped down after six years leading the company.
Investors in EnQuest expect the North Sea explorer to provide a timeline for the development of the Kraken field later this week, an analyst was quoted as saying in a news report.
Israel’s Delek Group is looking to bolster its UK oil and gas assets after starting discussions aimed at giving it a large stake in one of the North Sea’s biggest prospects.
North Sea operator EnQuest has been hit with an improvement notice by the Health and Safety Executive (HSE) after a gas leak.
Dana Petroleum today hit out after Enquest drilled an exploration well at the centre of the North Sea's latest oil find without its consent to do so, according a statement posted on its website.
EnQuest has confirmed an oil discovery at its Eagle exploration well in the North Sea.
Enquest was today forced to make a statement denying it was in debt talks with the Oil and Gas Authority (OGA).
Scottish ministers will travel to Aberdeen tomorrow to meet with key oil and gas figures to hear how the industry is coping to the oil price crash.
EnQuest expects to deliver its full year production guidance this year citing improved performance from its North Sea assets as a major factor in the increase.
A group of North Sea operators have come together to improve efficiency with the launch of a trial scheme to share 200,000 inventory items.
EnQuest saw its shares rise almost 25% yesterday after it confirmed it had sufficient funding to complete its major North Sea Kraken development and it has successfully shaved costs from operations.
A change in UK legislation which gives oilfield operators tax relief on decommissioning costs when selling an assets could help speed up North Sea deal, according to EnQuest.
EnQuest has reportedly drafted in help to manage its debt portfolio as it battles a depressed oil price environment.
EnQuest non-executive director Jock Lennox has been appointed as a director of house builder Barratt Developments. He will take up the role in July.
The head of the NSRI (National Subsea Research Initiative) has warned that more than a billion barrels of oil could remain locked in the North Sea unless a new approach is taken to develop small pools in the region.
Administrators have begun the task of securing what they can following the demise of Aberdeen oil company First Oil.