EnQuest PLC
F:3EQ

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EnQuest PLC Logo
EnQuest PLC
F:3EQ
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Price: 0.0954 EUR -0.83% Market Closed
Market Cap: 182m EUR

EnQuest PLC
Investor Relations

EnQuest Plc engages in the extraction and production of hydrocarbons. The firm's principal activities are the exploration for, and extraction and production of, hydrocarbons in the United Kingdom Continental Shelf and Malaysia. The firm focuses on maturing assets and undeveloped oil fields. The Company’s geographical segments include the North Sea and Malaysia. The Company’s upstream operations include its Magnus, Kraken, Golden Eagle, Greater Kittiwake Area, Scolty/Crathes and Alba assets. The Malaysian operations include its PM8 Extension Production Sharing Contract, consisting of the PM8 and Seligi Fields and the Block PM409 Production Sharing Contract. The Company’s infrastructure and new energy business division is providing creative solutions through the energy transition.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Sep 24, 2025
AI Summary
Q2 2025

Revenue: EnQuest reported first-half 2025 revenue of $549 million, supported by strong operational performance and gains on commodity hedges.

Cost Control: Operating costs were held flat year-on-year at $389 million, despite significant inflation and an 11% weaker US dollar.

Net Debt: Net debt reduced further to $377 million by June 30, continuing a significant deleveraging trend.

Liquidity: Liquidity improved to $578 million at the end of June, up from $475 million at year-end 2024.

Guidance Reiterated: Management reaffirmed full-year guidance for production (40,000–45,000 BOE/d), operating expenditure ($450 million), capex ($190 million), and decommissioning spend ($60 million).

Southeast Asia Expansion: EnQuest completed five growth transactions in the region, with Vietnam acquisition contributing 5,000 BOE/d and Malaysian gas sales agreement set to add 6,000 BOE/d in 2026.

Dividend Initiated: Paid a maiden dividend of $15 million in June.

Decommissioning Leadership: Completed 81 wells since 2022, at costs 35% below basin average, strengthening sector-leading decommissioning capability.

Key Financials
Revenue
$549 million
Operating Costs
$389 million
Production Efficiency
89% (would have been 94% excluding third-party outage)
Unit OpEx
$26.4 per BOE
Adjusted EBITDA
$235 million
Tax Charge
$239 million
Free Cash Flow
$33 million
Dividend
$15 million
Net Debt
$377 million
Liquidity (Cash and Available Facilities)
$578 million
Capital Expenditure
$83 million (first half), $190 million (guidance for full year)
Decommissioning Spend
$31 million (first half), $60 million (guidance for full year)
Production
40,000–45,000 BOE per day (guidance)
2P Reserves Under Operatorship
96%
Southeast Asia Production (Vietnam)
5,000 BOE per day
PM8/Seligi Gas Production (future)
70 million scf per day starting Q1 2026 (equivalent to 6,000 BOE/d)
Decommissioning (Wells Plugged and Abandoned)
81 wells since 2022
Decommissioning Cost Performance
35% below basin average
Recognized U.K. Tax Asset
$2 billion (recognized), $1.2 billion (unrecognized)
Earnings Call Recording
Other Earnings Calls
2025

Management

Mr. Amjad Adnan Bseisu
Chief Executive & Executive Director
No Bio Available
Dr. Jonathan Michael Copus
CFO & Executive Director
No Bio Available
Mr. Jason Ewles
Technical Director
No Bio Available
Craig Baxter
Head of Investor Relations
No Bio Available
Mr. Christopher John Sawyer
General Counsel & Secretary
No Bio Available
Ian Wood
Head of Communications & Reporting
No Bio Available
Mr. Steve Bowyer
General Manager of North Sea & Head of Business Development
No Bio Available

Contacts

Address
London
5th Fl, Cunard HSE, 15 Regent Street
Contacts
+442079254900.0
www.enquest.com