EnQuest (ENQ)

Sector:

Energy Producers

Index:

FTSE Small Cap

12.32p
   
  • Change Today:
      0.30p
  • 52 Week High: 17.02p
  • 52 Week Low: 10.34p
  • Currency: UK Pounds
  • Shares Issued: 1,872.10m
  • Volume: 2,551,385
  • Market Cap: £230.64m

Enquest on course to meet full-year targets

By Abigail Townsend

Date: Thursday 24 Nov 2022

LONDON (ShareCast) - (Sharecast News) - EnQuest said on Thursday it remained on track to deliver annual targets, following a strong production performance in the year to date.
The oil and gas production company said it expected full-year production to come in around the mid-point of its forecast range, of between 44,000 and 51,000 barrels of oil equivalent per day (boepd).

Chief executive Amjad Bseisu added: "Building on our excellent operational performance and deleveraging during the first half of the year, we are on track to deliver on our 2022 targets.

"We continue to progress towards our net debt to earnings before interest, tax, depreciation and amortisation of 0.5x, which will enable us to consider our broader capital allocation priorities, including potential returns to shareholders in the longer term."

Average net group production in the 10 months to 31 October was 46,593 boepd, up 5.2% on the same period a year previously.

Inflationary pressures, meanwhile, were offset by "disciplined" cost management and the weaker pound. Around 80% of EnQuest's cost base is in sterling. Although it also operates in Malaysia, the vast majority of EnQuest's assets are in the North Sea.

As at 30 September, net debt was $750m, down from $880m at 30 June.

Shares in EnQuest were down 2% as at 0915 GMT, at 23.95p.

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EnQuest Market Data

Currency UK Pounds
Share Price 12.32p
Change Today 0.30p
% Change 2.50 %
52 Week High 17.02p
52 Week Low 10.34p
Volume 2,551,385
Shares Issued 1,872.10m
Market Cap £230.64m

EnQuest Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.31% above the market average99.31% above the market average99.31% above the market average99.31% above the market average99.31% above the market average
94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average
Price Trend
69.2% below the market average69.2% below the market average69.2% below the market average69.2% below the market average69.2% below the market average
17.95% below the sector average17.95% below the sector average17.95% below the sector average17.95% below the sector average17.95% below the sector average
Income
63.59% above the market average63.59% above the market average63.59% above the market average63.59% above the market average63.59% above the market average
12.5% below the sector average12.5% below the sector average12.5% below the sector average12.5% below the sector average12.5% below the sector average
Growth
85.48% below the market average85.48% below the market average85.48% below the market average85.48% below the market average85.48% below the market average
95.92% below the sector average95.92% below the sector average95.92% below the sector average95.92% below the sector average95.92% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

EnQuest Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 164,268 @ 12.32p
16:35 79 @ 12.32p
16:35 20,246 @ 12.32p
16:35 2,048 @ 12.32p
16:35 1,192 @ 12.32p

EnQuest Key Personnel

CEO Amjad Bseisu
CFO Jonathan Copus

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