24th May 2018 11:29
LONDON (Alliance News) - EnQuest PLC said Thursday its group production, for the four months to April end, increased 48% year-on-year on the back of the drilling of two new wells in the North Sea.
The oil production company increased production to an average of 56,077 barrels of oil equivalent per day in the first four months of 2018, reaffirming its full-year expectations between 50,000 and 58,000 boepd.
"Our programme of improving the performance of mature hydrocarbon assets continues to deliver notable successes, with additional production following the drilling of two new wells at Heather and Magnus," Chief Executive Officer Amjad Bseisu said.
EnQuest shares were trading down 5.4% at 39.80 pence.
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