IN BRIEF: Enwell Energy annual profit soars on higher gas prices
29th Jun 2022 12:22
Enwell Energy PLC - London-based oil and gas company - Pretax profit surges to USD66.6 million in 2021 from just USD6.5 million the previous year. Revenue multiplies to USD121.4 million from USD47.3 million. Average daily production in the year increases by 4.2% to 4,730 barrels of oil equivalent per day from 4,541 boepd. Cites significantly higher gas prices for revenue rise. Says Russia's invasion of Ukraine has had a currently unknown impact on the group business and operations, with field operations suspended from late February to mid-March. Adds the scale and duration of disruption remains uncertain. Notes that the 77% of its cash is outside Ukraine, however. Read More