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 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: US$0.022 loss per share (vs US$0.22 profit in FY 2021) Full year 2022 results: US$0.022 loss per share (down from US$0.22 profit in FY 2021). 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 6.4% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. 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. Board Change • Jan 01
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 • 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 5.2% decline forecast for the Oil and Gas industry in Europe. 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 14% per year, which means it is significantly lagging earnings growth. 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 • Jun 17
EnQuest PLC Announces Board Changes EnQuest PLC announced that Martin Houston has notified the Board of his intention to step down as Non-Executive Chairman to focus on his other business interests. Martin has been Chair of the Board since 1 October 2019. The timing of his departure will be confirmed once a successor has been recruited. The Board will now begin the search process for a new Non-Executive Chair, led by Senior Independent Director Howard Paver. An announcement confirming Martin's successor will be made in due course. Under Martin's leadership, EnQuest has made good progress against its strategic objectives. In particular, year-end net debt has been reduced to $1,222.0 million, its lowest level since 2014. EnQuest has made three acquisitions and is well positioned to play a growing role in the energy transition. In addition, Martin has overseen significant improvements in governance, including recruiting several new non-executive directors, bringing greater diversity of gender, background and skills to the Board. Announcement • May 23
EnQuest PLC Provides Production Guidance for the Year 2022 EnQuest PLC provided production guidance for the year 2022. For the year, average net Group production is expected to be between 44,000 Boepd and 51,000 Boepd. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Rani Koya 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 03
EnQuest PLC Provides Production Guidance for the Year 2022 EnQuest PLC provided production guidance for the year 2022. For the year, the company expects net production to be between 44,000 and 51,000 Boepd. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Rani Koya 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. Recent Insider Transactions • Jan 08
Independent Non-Executive Director recently bought kr500k worth of stock On the 6th of January, John Winterman bought around 200k shares on-market at roughly kr2.50 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Sep 07
First half 2021 earnings released: US$0.034 loss per share (vs US$0.28 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: US$481.3m (up 9.7% from 1H 2020). Net loss: US$56.4m (loss narrowed 88% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Announcement • Jul 07
EnQuest PLC (LSE:ENQ) completed the acquisition of Whalsay Energy Limited from Whalsay Energy Holdings Limited. EnQuest PLC (LSE:ENQ) signed a share purchase agreement to acquire Whalsay Energy Limited from Whalsay Energy Holdings Limited for $42 million on April 26, 2021. As per the transaction, EnQuest PLC will fund certain accrued costs and obligations expected to amount to less than $2 million and will make deferred payments based on future revenues generated by Whalsay Energy which are capped at $40 million. The transaction is subject to UK Oil and Gas Authority granting an extension of the existing licence term, which is currently due to expire 30 June 2021, and the receipt of other third party approvals. Gneiss Energy Limited acted as commercial advisor to Whalsay Energy Limited.
EnQuest PLC (LSE:ENQ) completed the acquisition of Whalsay Energy Limited from Whalsay Energy Holdings Limited on July 6, 2021. Announcement • May 12
EnQuest PLC Provides Production Guidance for the Year 2021 EnQuest PLC provided production guidance for the year 2021. For the year, average net Group production is expected to be between 46,000 Boepd and 52,000 Boepd; Kraken gross production is expected to be between 30,000 Bopd and 35,000 Bopd (21,150 Bopd to 24,675 Bopd net). Announcement • Apr 27
EnQuest PLC (LSE:ENQ) agreed to acquire Whalsay Energy Limited from Whalsay Energy Holdings Limited for $42 million. EnQuest PLC (LSE:ENQ) signed a share purchase agreement to acquire Whalsay Energy Limited from Whalsay Energy Holdings Limited for $42 million on April 26, 2021. As per the transaction, EnQuest PLC will fund certain accrued costs and obligations expected to amount to less than $2 million and will make deferred payments based on future revenues generated by Whalsay Energy which are capped at $40 million. The transaction is subject to UK Oil and Gas Authority granting an extension of the existing licence term, which is currently due to expire 30 June 2021, and the receipt of other third party approvals. Gneiss Energy Limited acted as commercial advisor to Whalsay Energy Limited. Reported Earnings • Mar 26
Full year 2020 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$865.6m (down 47% from FY 2019). Net loss: US$625.8m (loss widened 39% from FY 2019). Announcement • Mar 25
EnQuest PLC Provides Production Guidance for the Year Ended December 31, 2021 EnQuest PLC provided production guidance for the year ended December 31, 2021. For the year, the company expected average production to be between 46,000 to 52,000 Boepd, excluding Golden Eagle which will add c.10,000 Boepd on a pro forma basis. Announcement • Feb 26
EnQuest PLC Signs Agreement with Anasuria Hibiscus UK Limited EnQuest PLC announced that it has signed an agreement with Anasuria Hibiscus UK Limited to farm-down an 85% working interest in, and transfer operatorship of, the Eagle discovery located in the UK North Sea. EnQuest will retain a 15% non-operating working interest. Consideration is in the form of a nominal $1 (one dollar) payment due to EnQuest on completion plus a full carry of all costs from completion of the transaction through to first oil in relation to the 15% interest. Completion is expected during the second quarter of 2021, subject to customary regulatory and third-party approvals. Is New 90 Day High Low • Feb 15
New 90-day high: kr1.76 The company is up 39% from its price of kr1.27 on 17 November 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr26.06 per share. Announcement • Feb 04
EnQuest PLC Appoints Liv Monica as Non-Executive Director, Member of the Audit Committee and the Safety,Climate and Risk Committee, Effective 15 February 2021 EnQuest PLC announced its intention to appoint Liv Monica Stubholt as a Non-Executive Director of the company with effect from 15 February 2021. On joining the Board, Liv Monica will become a member of the Audit Committee and the Safety,Climate and Risk Committee. Liv Monica is a highly respected professional in the Norwegian energy industry and legal community, she also works with academic communities within her fields and is currently a council member of the Department for Petroleum and Energy Law at the Faculty of Law in Oslo. Liv Monica Stubholt has 20 years' experience as a corporate lawyer and holds an MA in Law from University of Oslo, Norway. She started her career as an attorney with a Norwegian law firm before becoming political advisor to the Centre Party Finance Parliamentary Group. From 1997, she spent two years as a legal advisor to an industry alliance for private ownership before becoming Partner at her original law firm. In 2005, Liv Monica moved back into politics and was Norway's Deputy Minister of Foreign Affairs for two years, followed by two years as Deputy Minister of Petroleum and Energy. Liv Monica re-joined the private sector in 2009 and held four top executive industry positions within the Aker Group in Norway including as EVP in the listed EPC contractor Kværner before moving back into law. Liv Monica is currently Partner at the Oslo-based law firm Selmer and sits on a number of private company boards, industrial boards and academic committees including as chairperson of Fortum Oslo Varme and Silex Gas Norway. She is a member of the board of OKEA ASA. Announcement • Jan 23
EnQuest PLC (LSE:ENQ) completed the acquisition of 40.81% stake in Bressay oil field from Equinor ASA (OB:EQNR). EnQuest PLC (LSE:ENQ) signed a purchase agreement to acquire 40.81% stake in Bressay oil field from Equinor ASA (OB:EQNR) for £13.7 million on July 31, 2020. The consideration includes an initial payment of £2.2 million and contingent payment of £11.52 million. Upon completion, Equinor ASA will hold 40.81% in Bressay oil field. The transaction is subject to customary condition and regulatory approval. The transaction is expected to be completed by fourth quarter of 2020.
EnQuest PLC (LSE:ENQ) completed the acquisition of 40.81% stake in Bressay oil field from Equinor ASA (OB:EQNR) on January 21, 2021. Post completion, EnQuest has a 40.81% interest in Bressay and operatorship and Equinor has a 40.81% non-operated interest, with Chrysaor retaining an 18.38% interest. Announcement • Jan 22
Prosafe SE and EnQuest Agrees on a Settlement of the Cancelled Contract for the Safe Zephyrus in 2020 Prosafe and EnQuest agreed on a settlement of the cancelled contract for the Safe Zephyrus in 2020 with EnQuest paying Prosafe an adequate compensation. The Safe Zephyrus is currently conducting her five-yearly special periodic survey at Averøy yard in Norway and preparing for the upcoming contract at the Shearwater platform for Shell in the UK. The contract is scheduled to commence in February 2021. In addition, Shell retains the option to extend the contract after the firm duration by up to 30 days. Safe Caledonia is currently laid up in the UK. The vessel is scheduled to commence a 162-day contract with a 30-day option for Total at the Elgin platform in the UK from March 2021. Safe Eurus has been providing safety and maintenance support to Petrobras during a three-year contract since November 2019 and was in full operation throughout the quarter. The original three-year and 222-day firm contract for the Safe Notos that was due to complete in July 2020 was suspended for 120 days at zero rate from April 2020. The vessel was back on standby rate in early August 2020 and resumed operations in early October 2020. The Safe Notos was off-hire for the most part of January 2021 conducting her five-yearly special periodic survey and will resume operations from February 2021 continuing through until mid-November 2021. Is New 90 Day High Low • Jan 13
New 90-day high: kr1.63 The company is up 38% from its price of kr1.18 on 14 October 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr28.09 per share. Announcement • Dec 11
Laurie Fitch Step Downs as Non-Executive Director of EnQuest PLC, Effective 8 January 2021 EnQuest PLC announced that Laurie Fitch, Non-Executive Director, has decided to step down upon expiry of her service agreement on 8 January 2021. Announcement • Nov 27
EnQuest PLC to Report First Half, 2021 Results on Sep 02, 2021 EnQuest PLC announced that they will report first half, 2021 results on Sep 02, 2021 Announcement • Nov 25
EnQuest PLC Appoints Farina Khan as Non-Executive Director and Member of the Audit Committee and the Safety and Risk Committee Farina Khan was appointed as a Non-Executive Director of the EnQuest Board with effect from 1 November 2020. She also became a member of the Audit Committee and the Safety and Risk Committee. Farina has over 20 years' experience in the oil and gas industry and was previously chief financial officer Of PETRONAS. Is New 90 Day High Low • Oct 16
New 90-day low: kr1.14 The company is down 29% from its price of kr1.60 on 17 July 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr5.30 per share. Is New 90 Day High Low • Sep 22
New 90-day low: kr1.27 The company is down 25% from its price of kr1.70 on 24 June 2020. The Swedish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr5.36 per share. Announcement • Aug 01
EnQuest PLC (LSE:ENQ) signed a purchase agreement to acquire 41% stake in Bressay oil field from Equinor ASA (OB:EQNR) for £13.7 million. EnQuest PLC (LSE:ENQ) signed a purchase agreement to acquire 41% stake in Bressay oil field from Equinor ASA (OB:EQNR) for £13.7 million on July 31, 2020. The consideration includes £2.2 million and £11.52 million as contingent payment on regulatory approval of a Bressay field development plan. 
