Strong showing from Kraken boosts Bumi Armada profits
Profits at Bumi Armada jumped last year thanks to a strong showing from its Armada Kraken FPSO in the North Sea.
Kraken
EnQuest wraps up deal for stake in Bressay field
London-listed EnQuest said today it had completed the £13 million acquisition of a stake in the Bressay field from Equinor.
Cairn says Kraken and Catcher reaching ‘natural decline phase’, targets ‘Jaws’ prospect with Shell
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.
Debt creeps up at EnQuest but Kraken impresses
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.
Updated: EnQuest bosses says recent footprint shrinkage part of ‘natural cycle’
EnQuest bosses said today that the recent shrinking of the firm’s UK North Sea footprint was just part of the “natural cycle”.
Cairn Energy ‘won’t change’ North Sea exploration plan despite oil price meltdown, chief says
This week’s oil price meltdown “won’t change” any short-term plans for Cairn Energy but could offer an opportunity, the Scottish oil firm’s boss said yesterday.
Updated: North Sea shares climb despite forecast for lower output
Shares in EnQuest climbed today despite the company indicating production would drop slightly this year in light of North Sea platform shutdowns.
EnQuest predicts production jump despite North Sea shutdowns
Oil firm EnQuest said today that production should grow by about a fifth this year despite having to shut down two of its North Sea fields.
Half year profit up for EnQuest as chairman steps down
North Sea oil firm EnQuest has announced a significant surge in half year profits as its chairman steps down to be replaced by Martin Houston.
EnQuest hails 25% boost to production thanks to North Sea operations
EnQuest has seen a 25% yearly boost to its oil and gas production thanks to strong performance from its North Sea operations.
Cairn ‘knows what needs to be done’ with North Sea Kraken field
Scottish oil firm Cairn Energy has said it has lived up to its production guidance for the first part of 2019 and hailed the performance of the North Sea Catcher field.
Bumi Armada eyes vessel sales after refinancing
Malaysia’s Bumi Armada has announced plans to sell certain “idle” floating production vessels after a major debt restructuring programme.
North Sea could hold further discoveries to extend lifespan, says EnQuest boss
The boss of North Sea oil producer EnQuest said yesterday he believed the region could yield further discoveries to extend its lifespan.
Kraken woes won’t deter Cairn on North Sea investment
Cairn Energy’s chief executive has said costs around the Kraken project will not deter the firm from further investment in the North Sea.
Cairn posts losses of almost £1bn amid India, Kraken troubles
Scottish oil firm Cairn Energy vowed to go after "material" exploration targets this year despite suffering losses of almost £1 billion in 2018.
EnQuest denies Kraken reserves downgrade
EnQuest today denied that the reserves estimate for its Kraken field had been downgraded.
Bumi Armada blames loss on Kraken ‘difficulties’, announces new CEO
Malaysia’s Bumi Armada has sunk to a £426million pre-tax loss which it largely blamed on impairment charges for the Kraken FPSO in the North Sea.
EnQuest forecasts 20% production jump in 2019 despite Kraken glitches
EnQuest today reported a near-50% increase in production across the group last year, and predicted a 20% jump in 2019.
North Sea cash flow to bolster Cairn’s big growth plans
Bosses at Cairn Energy said today that cash flow from its North Sea interests would help the firm take advantage of "significant growth opportunities".
EnQuest targets 20% production boost in 2019
UK oil firm EnQuest said today that it expected to increase production by 20% next year.
UPDATED: EnQuest aborted Kraken sale talks over debt deadline
EnQuest reportedly called off plans to sell stakes in its Kraken field and instead borrowed money against it as a debt deadline approached.
Kraken sinks Armada’s results
Malaysia’s Bumi Armada fell to a second quarter loss due to charges relating to the Kraken FPSO.
Strong production helps EnQuest wipe out debt chunk early
Oil firm EnQuest said strong production performance had helped it wipe out £37 million worth of debt early.
Enquest waiting on the ‘right offer’ for Kraken sale
Enquest says it is waiting on the “right offer” for the sale of a 20% stake in its Kraken field in the North Sea.
Enquest announces production boost in full year results
Enquest has announced it is set for a boost in production in 2018, bolstered by its North Sea Kraken development.