Key highlights from EnQuest’s operational update include Kraken - On track to achieve first oil from Kraken before the end of June. All drilling is now complete on DC1 and DC2 and the rig has moved to DC3 where good progress had been made on the drilling programme. Drilling performance to date has derisked the project beyond first oil. At start up, 12 wells will be available comprising 7 producers and 6 injectors. The wells will be brought onstream in a phased manner. The project contin
25 May 2017
Operational update confirms Kraken is on track. FY production guidance re-affirmed. No change to our numbers at this point, but reassuring that Kraken remains on schedule. We remain with our HOLD given medium term oil price concerns, but short term given OPEC and Kraken believe EnQuest’s share price could have a little rally.
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Operational update confirms Kraken is on track. FY production guidance re-affirmed. No change to our numbers at this point, but reassuring that Kraken remains on schedule. We remain with our HOLD given medium term oil price concerns, but short term given OPEC and Kraken believe EnQuest’s share price could have a little rally.
EnQuest PLC (ENQ:LON) | 14.2 0 0.8% | Mkt Cap: 271.4m
- Published:
25 May 2017 -
Author:
Jessica Saadat -
Pages:
3
Key highlights from EnQuest’s operational update include Kraken - On track to achieve first oil from Kraken before the end of June. All drilling is now complete on DC1 and DC2 and the rig has moved to DC3 where good progress had been made on the drilling programme. Drilling performance to date has derisked the project beyond first oil. At start up, 12 wells will be available comprising 7 producers and 6 injectors. The wells will be brought onstream in a phased manner. The project contin