Yesterday’s conference call was actually relatively upbeat, and it does seem they are confident around resolving the FPSO issues at Kraken and might be on the conservative side with their updated FY production guidance. Adjusting our model for slightly faster ramp up than we had assumed post the operational update, but higher opex, leaves our RENAV broadly unchanged at 22p. Given the oil price gearing, and large debt position, we remain with our HOLD recommendation. Assuming Kraken does
08 Sep 2017
upbeat conference call
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upbeat conference call
EnQuest PLC (ENQ:LON) | 14.1 0 0.0% | Mkt Cap: 269.7m
- Published:
08 Sep 2017 -
Author:
Jessica Saadat -
Pages:
4
Yesterday’s conference call was actually relatively upbeat, and it does seem they are confident around resolving the FPSO issues at Kraken and might be on the conservative side with their updated FY production guidance. Adjusting our model for slightly faster ramp up than we had assumed post the operational update, but higher opex, leaves our RENAV broadly unchanged at 22p. Given the oil price gearing, and large debt position, we remain with our HOLD recommendation. Assuming Kraken does