The Group’s Northern North Sea operations include its Thistle/Deveron, the Dons, Heather/Broom and Magnus assets, as well as the onshore Sullom Voe Oil Terminal (‘SVT’). It now looks as if production will not re-start at the mature Heather and Thistle/Deveron fields in the UK northern North Sea, which collectively generated around 6,000 boe/d last year.
Oil & gas news Here are the A material operating cost and CAPEX reduction programme will aim to lower EnQuest’s cost base, with Group free cash flow breakeven targeted at approximately US$38/boe in 2020 and US$35/boe in 2021.Production this year to 17 March has averaged approximately 65 500 boe/d, with Kraken in particular performing ahead of expectations at approximately 39 000 bpd (gross). Email:
In the BP/Enquest transaction, given that BP has retained decommissioning liabilities associated with the assets the issue of Enquest providing security appears to have been moot. EnQuest is a production and development company, with operations in the UK North Sea and Malaysia. The firm has a "target-rich environment in its existing assets with very high payback and a low cost of development", says Bseisu. Copyright © 2020 Palladian Publications Ltd. All rights reserved | Tel: +44 (0)1252 718 999 |
In 2014, the Group acquired its interests in Malaysia. The company was formed in April 2010 by a combination of the demerged British North Sea assets of Petrofac and Lundin Petroleum. For 2020, it is targeting a 30% cut in opex to $375 million, and in 2021, unit operating expenditures of $15/boe and cashflow breakeven of c.$35/boe in 2021.So far this year the overall production performance has been solid, the company added, averaging around 65,500 boe/d, with the Kraken field ahead of expectations at roughly 39,000 b/d.Much of this year’s program relates to the recently concluded drilling at Magnus in the East Shetland basin and two wells at Kraken. LONDON – EnQuest has agreed to acquire from Equinor a 40.81% interest in the undeveloped Bressay heavy oil field in the UK northern North Sea. Boepd produced in 2019 The Group’s Central North Sea operations include its Greater Kittiwake Area, Scolty/Crathes, Alma/Galia and Alba assets.
It now looks as if production will not re-start at the mature Heather and Thistle/Deveron fields in the UK northern North Sea, which collectively generated around 6,000 boe/d last year. EnQuest has been reassessing its North Sea assets and related spending plans in light of the current lower oil price.. First oil was delivered in June 2017, with the field development … Kraken forecast gross production remains unchanged at 30 000 to 35 000 boe/d.For 2020, the Group is targeting base operating expenditure savings of approximately US$150 million, which would lower operating costs by approximately 30% to approximately US$375 million.
A combination of drilling rig re-activation, modern seismic acquisition and interpretation, new wells, a major power supply upgrade, the introduction of new and simplified process controls and safety systems, integrity work on platform topsides and replacement of two pedestal cranes saw production and the assets life expectancy increase significantly.
The Dons fields were the first to be owned by EnQuest following its formation in 2010 from the demerged UK North Sea assets of Petrofac and Lundin. The GKA area comprises five offshore oil fields: Kittiwake, Mallard, Gadwall, Goosander and Grouse. The deal makes Chrysaor one of the largest producers in the U.K. North Sea.
EnQuest, listed on the LSE market (ENQ.L), is one of the largest independent production and development companies operating in the North Sea. For 2019, the company reported a pre-tax loss of $729.1m, compared with a profit of $94.0m on-year, and revenue rose to $1,711.8m from $1,201.0m.
Offshore staff. For full functionality of this site it is necessary to enable JavaScript. EnQuest has announced that it will not re-start production at the Heather and Thistle/Deveron fields in the North Sea.
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enquest north sea assets