Profits at Bumi Armada jumped last year thanks to a strong showing from its Armada Kraken FPSO in the North Sea.
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 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.
EnQuest bosses said today that the recent shrinking of the firm’s UK North Sea footprint was just part of the “natural cycle”.
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.
Shares in EnQuest climbed today despite the company indicating production would drop slightly this year in light of North Sea platform 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.
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 has seen a 25% yearly boost to its oil and gas production thanks to strong performance from its North Sea operations.
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.
Malaysia’s Bumi Armada has announced plans to sell certain “idle” floating production vessels after a major debt restructuring programme.
The boss of North Sea oil producer EnQuest said yesterday he believed the region could yield further discoveries to extend its lifespan.
Cairn Energy’s chief executive has said costs around the Kraken project will not deter the firm from further investment in the North Sea.
Scottish oil firm Cairn Energy vowed to go after "material" exploration targets this year despite suffering losses of almost £1 billion in 2018.
EnQuest today denied that the reserves estimate for its Kraken field had been downgraded.
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 today reported a near-50% increase in production across the group last year, and predicted a 20% jump in 2019.
Bosses at Cairn Energy said today that cash flow from its North Sea interests would help the firm take advantage of "significant growth opportunities".
UK oil firm EnQuest said today that it expected to increase production by 20% next year.
EnQuest reportedly called off plans to sell stakes in its Kraken field and instead borrowed money against it as a debt deadline approached.
Malaysia’s Bumi Armada fell to a second quarter loss due to charges relating to the Kraken FPSO.
Oil firm EnQuest said strong production performance had helped it wipe out £37 million worth of debt early.
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 has announced it is set for a boost in production in 2018, bolstered by its North Sea Kraken development.