EnQuest PLC
SWB:3EQ
EnQuest PLC
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.
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.
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.
