EnQuest has announced a major acquisition of a suite of assets in Malaysia, taking net production through the 100kboepd for a headline cash consideration of up to US$833m. The assets constitute three separate farm-ins, and given the materiality of the transaction, are considered a reverse takeover under the UK Listing Rules. In total, the new assets will contribute around 57kboepd (+134%), 138mmboe of 2P reserves (+56%) and 208mmboe of 2C resources. The production is relatively low-cost (cUS$10/ ....
