Main take-aways: While production over FY16 will be marginally lower than expected, Alma Galia is now at plateau with no further Capex required in 2017. The early teething problems have been resolved which is encouraging. Decline rates are likely to be shallower. Scolty/Crathes is now expected to reach first oil at YE16 with 5 mbbl/d net production, six months earlier than we expected. Importantly, a significant proportion of the associated Capex profile will be paid for in 2017. Overall net
08 Sep 2016
NOTES FROM 1H16 PRESENTATION
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NOTES FROM 1H16 PRESENTATION
EnQuest PLC (ENQ:LON) | 15.8 0 (-0.3%) | Mkt Cap: 301.9m
- Published:
08 Sep 2016 -
Author:
Stephane Foucaud -
Pages:
5
Main take-aways: While production over FY16 will be marginally lower than expected, Alma Galia is now at plateau with no further Capex required in 2017. The early teething problems have been resolved which is encouraging. Decline rates are likely to be shallower. Scolty/Crathes is now expected to reach first oil at YE16 with 5 mbbl/d net production, six months earlier than we expected. Importantly, a significant proportion of the associated Capex profile will be paid for in 2017. Overall net