- Free cash flow up 31 per cent on higher production and prices
- Higher tax rate forces quicker debt repayment
Compared with other North Sea energy companies, EnQuest (ENQ) had slightly more reason to be worried by the 75 per cent tax and windfall levy rate, as it dropped the cap on how much it could borrow under its reserve-based lending (RBL) facility, bringing on a sharper repayment plan this year.