Presentation

North Sea and is listed in London and Stockholm. The company was formed in 2010 as a result of the combination of the UK North Sea assets of Petrofac and Lundin Petroleum. EnQuest’s asset portfolio has since remained highly levered to the UK North Sea but it also has operations in Malaysia. The company is listed on London Stock Exchange, with a seconday listing in Stockholm.

EnQuest’s strategy is centered around its expertise in maximizing value from mature assets, which in recent years has been combined by important new developments, most notably Kraken. At multiple fields in the UK North Sea, EnQuest has been able to come in and take over operatorship from typically larger predecesssors and demonstrated that there is more economic value to the assets than other may have believed, by optimizing operations, reducing costs, and adding infill wells.

For 2021, Enquest has a production guidance of 46,000-52,000 boe/day, with its main asset Kraken exhibiting strong production figures. Though performance from Magnus is currently below expectations, Enquest has activities planned for the rest of the year to optimise production, including signed agreements to acquire the Golden Eagle and Bentley assets, where the former will add immediate material production and the latter adds long-term opportunities.