Full Year Results 

EnQuest output on the up

EnQuest output on the up

A sigh of investor relief – and a 6 per cent surge in the group’s shares – greeted EnQuest's (ENQ) publication of full-year numbers this week. After a shaky start to life for the Kraken field, no news – in the shape of unchanged production guidance – was clearly good news. In 2018, total daily oil and gas output should average between 50,000 and 58,000 barrels of oil-equivalent per day (boepd), as the field replaces declining production from reservoirs elsewhere; the faster Kraken can hit its 50,000 barrels of oil per day (bopd) plateau, the greater the chance EnQuest will hit the top end of the range.

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