Oil producer EnQuest said yesterday it had struck an agreement with Dana Petroleum on the Eagle discovery in the central North Sea.
EnQuest said today that operational issues with the FPSO for the Kraken field had forced the North Sea operator to lower its short-term production forecasts.
Scottish oil firm Cairn Energy said production start-up from the North Sea Kraken field had steered the firm to a strong first half.
It’s very good news that Enquest has manage to successfully bring the UKCS Quadrant 9 Kraken heavy oilfield onstream, 22 years after oil was first encountered in 1985.
EnQuest Plc climbed the most in three months in London trading on speculation borrowings will fall following the start of production at its Kraken oil field in the U.K. North Sea.
Industry body Oil and Gas UK has welcomed the announcement of first oil from the North Sea's Kraken development.
EnQuest is determined to keep its “growth story” going after overcoming a period of uncertainty to achieve first oil from the Kraken field.
Enquest this morning confirmed first oil from its flagship Kraken development.
EnQuest chief executive Amjad Bseisu said yesterday he expected North Sea mergers and acquisitions (M&A) activity to increase in 2017.
EnQuest made a marginal profit last year after streamlining its operations by reducing overheads and increasing production.
Cairn Energy's chief executive today said the firm was well-positioned to deliver on behalf of its shareholders.
Two major new milestones for the beleaguered UK North Sea oil and gas industry have highlighted resilience in the face of a downturn.
EnQuest confirmed today that the vessel for its flagship North Sea Kraken field had arrived on site.
Bosses at Ithaca Energy said it would be “business as usual” for the North Sea oil producer following its anticipated takeover by Israeli firm Delek Group.
The production and storage vessel for EnQuest’s Kraken field is expected to set sail for the North Sea “in the coming days”, the company said today.
EnQuest’s creditors overwhelmingly backed the firm’s restructuring plans today.
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.
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.
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 said yesterday it was at an advanced stage of talks over a deal to acquire a 20% stake in one of the UK’s biggest oil prospects.