FY17 production was 37,405 boe/d (in line with company guidance, GMP FEe: 37,776 boe/d) with US$370 mm capex and YE17 net debt of US$2.0 bn (GMP FEe: US$2.0 bn). FY18 production guidance has been set at 50-58 mboe/d (GMP FEe: 62 mboe/d) with cash capex of US$250 mm (GMP FEe: US$285 mm). Kraken produced 35 mbbl/d on average in January and has already reached 50 mbbl/d. EnQuest agreed renegotiated terms for the drilling rig, saving US$60 mm of net cash payments for capex in 2019. Full cycle g
19 Feb 2018
FLASH: Operating update and FY18 outlook
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FLASH: Operating update and FY18 outlook
EnQuest PLC (ENQ:LON) | 14.2 0 0.8% | Mkt Cap: 271.4m
- Published:
19 Feb 2018 -
Author:
Stephane Foucaud -
Pages:
2
FY17 production was 37,405 boe/d (in line with company guidance, GMP FEe: 37,776 boe/d) with US$370 mm capex and YE17 net debt of US$2.0 bn (GMP FEe: US$2.0 bn). FY18 production guidance has been set at 50-58 mboe/d (GMP FEe: 62 mboe/d) with cash capex of US$250 mm (GMP FEe: US$285 mm). Kraken produced 35 mbbl/d on average in January and has already reached 50 mbbl/d. EnQuest agreed renegotiated terms for the drilling rig, saving US$60 mm of net cash payments for capex in 2019. Full cycle g