Market Reaction: Slightly positive. While the divestment of the property was expected and had been highlighted by EnQuest, the difficult market conditions in Aberdeen could have cast some doubt around the price EnQuest could achieve. As a result, we view the positive impact on the firm's net debt as welcome news. We continue viewing the firm's valuation as very geared to oil price.
01 Sep 2015
DIVEST ABERDEEN PROPERTY
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DIVEST ABERDEEN PROPERTY
EnQuest PLC (ENQ:LON) | 15.7 -0.1 (-3.0%) | Mkt Cap: 300.2m
- Published:
01 Sep 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Slightly positive. While the divestment of the property was expected and had been highlighted by EnQuest, the difficult market conditions in Aberdeen could have cast some doubt around the price EnQuest could achieve. As a result, we view the positive impact on the firm's net debt as welcome news. We continue viewing the firm's valuation as very geared to oil price.