Announcement • Nov 20
EnQuest PLC Revises Production Guidance for 2024 EnQuest PLC revised production guidance for 2024. For the period, due to the impact of the Ninian outage, the company now expects its full year production to be slightly below its 41,000 to 45,000 boepd guidance range. Announcement • Sep 05
Enquest plc Reaffirms Production Guidance for 2024 EnQuest PLC reaffirmed production guidance for 2024. For the period the company announced that it remains on track to deliver net production within the guidance range of 41,000 to 45,000 Boepd set at the start of the year. Announcement • Aug 29
EnQuest PLC to Report Q2, 2024 Results on Sep 05, 2024 EnQuest PLC announced that they will report Q2, 2024 results on Sep 05, 2024 Announcement • May 01
EnQuest PLC (LSE:ENQ) announces an Equity Buyback for $15 million worth of its shares. EnQuest PLC (LSE:ENQ) announces a share repurchase program. Under the program, the company will repurchase up to $15 million worth of its shares. The initial 25,000,000 repurchased shares will be held in treasury for issue in due course to the Company's Employee Benefit Trust to satisfy the anticipated future exercise of options and awards made to employees and Executive Directors of the company pursuant to certain of the Company's existing share plans and shares repurchased after initial 25,000,000 shares, will be cancelled. The plan will be valid till June 30, 2024. Announcement • Feb 15
EnQuest plc Provides Production Guidance for the Year 2024 EnQuest PLC provided production guidance for the year 2024. For the year, the company expects production guidance of 41,000 Boepd to 45,000 Boepd. Announcement • Dec 22
EnQuest PLC(OM:ENQ) dropped from OMX Nordic All-Share Index EnQuest PLC has been dropped from OMX Nordic All-Share Index. Announcement • Dec 18
EnQuest PLC Announces Director Change EnQuest PLC ('EnQuest') announced that Karina Litvack, Non-Executive Director, has informed the Board of her intention to resign as Non-Executive Director of the Company with immediate effect, due to an unexpected conflict arising through the EU Unbundling Directive which prohibits any director of a European power transmission company from also serving on the board of an upstream operator. Ms. Litvack is a director of Terna S.p.A, an Italian company. As part of its ongoing Board renewal process, the EnQuest PLC Board will seek to allocate the positions of Senior Independent Director and Chair of Remuneration and Social Responsibility Committee, which are vacated by Ms. Litvack. Announcement • Dec 08
EnQuest PLC Announces Appointment of Salman Malik as CEO of Its Subsidiary ,Veri Energy EnQuest PLC announced the appointment of that Salman Malik, Chief Financial Officer ('CFO') and Managing Director, Infrastructure and New Energy, will assume the role of Chief Executive Officer ('CEO') of Veri Energy ('Veri'), a wholly owned subsidiary of EnQuest. Veri will be responsible for managing the Company's existing infrastructure and new energy business with a focused management structure. This is a logical next step in the strategic evolution of EnQuest's ambitions to build an infrastructure and new energy business in a capital-light manner, while providing Veri the opportunity to leverage support from financial and strategic partnerships. Salman will remain an Executive Director of the Board of EnQuest, ensuring ongoing alignment with EnQuest's corporate strategy and net zero commitment. Announcement • Dec 05
EnQuest PLC Announces Submission of Application to Delist its Shares from Nasdaq Stockholm In line with the previous announcements on 5 September 2023 and 30 October 2023, EnQuest PLC ('EnQuest' or the 'Company') has on 5 December 2023, applied for the delisting of EnQuest's shares, short name ENQ, ISIN code GB00B635TG28, from Nasdaq Stockholm. The Company's shares will remain listed on the London Stock Exchange. Based on previous communication held with Nasdaq Stockholm, upon review of EnQuest's application, Nasdaq Stockholm will determine the last day of trading in EnQuest's shares. The last day of trading in the shares will be announced as soon as the Company has been informed thereof by Nasdaq Stockholm. Announcement • Nov 29
EnQuest PLC Provides Group Production Guidance for the Year 2023 EnQuest PLC provided group production guidance for the year 2023. For the year, the group expects average net production to be around the mid-point of the existing guidance range of 42,000 Boepd to 46,000 Boepd. Announcement • Oct 31
EnQuest Announces Update on Application to Delist its Shares from Nasdaq Stockholm EnQuest PLC ('EnQuest' or the 'Company') announced that as notified in a previous announcement on 5 September 2023, EnQuest plans to apply for a delisting of the company's shares from Nasdaq Stockholm. The formal request to delist is therefore expected to be submitted to Nasdaq Stockholm on 5 December with the last day of trading likely to be around two weeks after the application date (the "Delisting Date"). The Company's shares will remain listed on the London Stock Exchange. In order to continue trading in EnQuest shares, EnQuest shareholders holding their shares through Euroclear Sweden AB must arrange for a cross-border transfer of their shares into the book-entry system maintained by Euroclear UK & Ireland Limited (also known as CREST). DNB Markets, a part of DNB Bank ASA, Sweden Branch ('DNB Markets') acts as EnQuest's Issuing Agent and will coordinate the conversion process. Shareholders should in the first instance, however, discuss the cross-border transfer of shares with their respective nominee bank. Cross-border transfer applications should be made within the period of action, defined as being 31 October to 13 December 2023, and transfers made through DNB will be completed free of any charges to individual shareholders and nominees. Shareholders that do not apply for the cross-border transfer within the period of action will not be able to trade in the Company's shares following the Delisting Date: A letter with cross-border instructions will be distributed to all directly registered shareholders and to all custodians by 1 November 2023. The instruction letter explains the cross-border process and any actions to be taken by shareholders. Cross-border settlement will be done on a weekly basis starting from 8 November until 13 December. Shareholders should contact their respective nominee banks or EnQuest's Issuing Agent, DNB Markets. Announcement • Sep 14
EnQuest PLC Appoints Karina Litvack as Non-Executive Director and Senior Independent Director EnQuest PLC announced the appointment of Karina Litvack as a Non-Executive Director and Senior Independent Director with effect from 15 September 2023. Karina will also chair the Remuneration and Social Responsibility Committee. Karina has enjoyed a varied and extensive career focusing on climate transition and business resilience. As Founding Chairman of the Climate Governance Initiative, a project launched in collaboration with the World Economic Forum, and co-founder and former steering committee member of Chapter Zero UK and Chapter Zero Italy, she has supported boards in the transition to net zero. Karina is a non-executive director of Terna SpA, which is listed on the Italian Stock Exchange, having been appointed to that board on 9 May 2023. Previously she was a non-executive director of Eni SpA from 2014 to May 2023. Karina was also a member of the Board of the Extractive Industries Transparency Initiative until 2009, the London Stock Exchange Primary Markets Group until 2012 and the Board of Governors of the CFA Institute until 2022. Announcement • Sep 06
EnQuest Plans to Apply for Delisting of Its Shares from Nasdaq Stockholm EnQuest PLC ('EnQuest' or the 'Company') plans to apply for delisting of the Company's shares from Nasdaq Stockholm. The formal application for delisting will, however, be submitted to Nasdaq Stockholm no earlier than three months after the market has been informed of the delisting plans through this press release. The Company's shares will remain listed on the London Stock Exchange. EnQuest's listing on Nasdaq Stockholm originated from the issue of shares as consideration to Swedish resident shareholders in the former Lundin entity acquired in the early years of the Company. Whilst the UK was a member state of the European Union ('EU'), the London Stock Exchange was the Company's primary listing for EU purposes and, therefore, the additional compliance requirements relating to the Company's listing on Nasdaq Stockholm were minimal. However, following the departure of the UK from the EU, the UK is no longer considered to be EnQuest's primary EU listing, and has been replaced as such by Nasdaq Stockholm. This therefore imposes significant additional compliance requirements. EnQuest has no legal or physical presence in Sweden and is therefore reliant on external support to ensure compliance with Nasdaq Stockholm listing requirements. This has created a source of additional unexpected compliance cost for the Company. The ownership of the shares will not be affected by a delisting, and shareholders will maintain their shareholders' rights under applicable corporate law and the Company's constitutional documents. Following the delisting, EnQuest's shareholders holding their shares through Euroclear Sweden AB can continue trading in EnQuest's shares on the London Stock Exchange by first arranging for a cross-border transfer of their shares into the book-entry system maintained by Euroclear UK & Ireland Limited (also known as CREST). Further details of such cross-border transfers will be provided in due course. Announcement • Aug 26
EnQuest PLC to Report First Half, 2023 Results on Sep 05, 2023 EnQuest PLC announced that they will report first half, 2023 results on Sep 05, 2023 Board Change • Jul 07
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Chief Executive & Executive Director Amjad Bseisu is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 25
EnQuest PLC Reaffirms Production Guidance for the Full year 2023 EnQuest PLC reaffirmed production guidance for the full year 2023. For the period, average net Group production is expected to be between 42,000 Boepd and 46,000 Boepd, noting shutdowns and periods of single train operations planned at Magnus and Kraken, respectively, in the third quarter. Announcement • May 19
Enquest Announces Securing the Offer of Carbon Storage Licences by the North Sea Transition Authority EnQuest announced that it has successfully secured the offer of carbon storage licences as part of the first round of UK carbon sequestration licences issued by the North Sea Transition Authority ('NSTA'). The successful licence offers are within application areas known as Northern North Sea 1 and Northern North Sea 2. These are some 99 miles northeast of Shetland and include fields currently operated by EnQuest, the Magnus and Thistle fields, as well as the non-operated Tern and Eider fields. These sites are large, well characterised deep storage formations connected by significant existing infrastructure to the Sullom Voe Terminal ('SVT') in Shetland. EnQuest plans to have carbon dioxide ('CO2') shipped to SVT in liquid form and then utilise the existing jetties at the terminal before being transported via the existing East of Shetland pipeline for injection and permanent storage offshore. The flexibility afforded by a shipped solution for carbon storage is expected to enable a service to be provided to isolated emitter clusters in the UK, Europe and further afield who may not otherwise be able to access storage infrastructure. Reported Earnings • Apr 06
Full year 2022 earnings released Full year 2022 results: Revenue: US$1.85b (up 46% from FY 2021). Net loss: US$41.2m (down 111% from profit in FY 2021). Revenue is expected to fall by 19% p.a. on average during the next 3 years compared to a 3.0% decline forecast for the Oil and Gas industry in the United Kingdom. Board Change • Mar 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Chairman Gareth Penny was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 17
EnQuest PLC Provides Production Guidance for the Year 2023 EnQuest PLC provided production guidance for the year 2023. For the year, the company expects net production to be between 42,000 and 46,000 Boepd. Announcement • Dec 06
EnQuest PLC Announces Management Changes EnQuest PLC announced that it has appointed Gareth Penny as Non-Executive Chairman of the Group with effect from 6 December 2022, replacing Martin Houston who will step down from the Board on the same day. On joining the Board, Gareth will also become Chair of the Governance and Nomination Committee. Gareth brings a wealth of board level experience to EnQuest, having chaired both public and private boards. He is currently chairman of Ninety One Plc and Ltd, having previously been chairman of Norilsk Nickel, Russia's larger diversified mining and metals company. Gareth also served on the board of Julius Baer Group for 12 years. Gareth has extensive experience in extractive industries, having spent 22 years with De Beers and Anglo American, the last five of which he was group chief executive officer of De Beers. Announcement • Nov 24
EnQuest PLC Provides Production Guidance for the Year 2022 EnQuest PLC provided production guidance for the year 2022. 2022 average net Group production is expected to be around the mid-point of the existing guidance range of 44,000 Boepd to 51,000 Boepd. Kraken production is expected to be around the upper end of guidance of 22,000 Boepd to 26,000 Boepd gross (15,500 Boepd to 18,500 Boepd, net). Announcement • Nov 04
EnQuest PLC to Report Fiscal Year 2022 Results on Mar 23, 2023 EnQuest PLC announced that they will report fiscal year 2022 results on Mar 23, 2023 Reported Earnings • Sep 07
First half 2022 earnings released: EPS: US$0.11 (vs US$0.034 loss in 1H 2021) First half 2022 results: EPS: US$0.11 (up from US$0.034 loss in 1H 2021). Revenue: US$838.8m (up 74% from 1H 2021). Net income: US$203.5m (up US$259.9m from 1H 2021). Profit margin: 24% (up from net loss in 1H 2021). Revenue is expected to fall by 9.3% p.a. on average during the next 3 years compared to a 5.7% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Sep 07
EnQuest PLC Provides Production Guidance for the Year 2022 EnQuest PLC provided production guidance for the year 2022. The company expects 2022 average net Group production is expected to be within the guidance range of 44,000 Boepd and 51,000 Boepd reflecting strong first half performances across the portfolio and the impacts of the planned well programme and maintenance shutdowns in the second half of the year. Board Change • Sep 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Executive Director Salman Malik was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 02
Enquest plc Announces Production Guidance for 2022 EnQuest PLC announced the production guidance for 2022. The company announced the 2022 net production guidance of between 44,000 and 51,000 Boepd. 
