EnQuest on track for FY oil production
EnQuest, the FTSE 250 exploration firm, said oil production was up 20% in the first half of the year and it was on track to hit full year estimates.
EnQuest, the FTSE 250 exploration firm, said oil production was up 20% in the first half of the year and it was on track to hit full year estimates.
Production to the end of October averaged 23,944 barrels of oil equivalent per day (boepd), up 20% on the 19,876 boepd for the equivalent 2010 period.
This put it on track to deliver the latest guidance for full year average 2011 production of between 23,000 boepd and 24,500 boepd, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
EnQuest was now concluding its active ten well drilling programme for 2011, with five new North Sea production wells having been brought onstream during the year.
However, it said an exploration well drilled on its Ivy prospect had been unsuccessful.
"In 2011, EnQuest has further consolidated its positions, with increased interests in the Broom field and the Crawford block helping to drive strong growth in our net reserves," said chief executive Amjad Bseisu.
"EnQuest continues to be active in assessing potential business development opportunities."
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Are you one of 15 million people at risk of retirement poverty?
Two-fifths of people in the UK aren’t on track for a minimum lifestyle in retirement, new data shows. Are there steps you can take to boost your pension?
-
150 banking hubs now open across UK – is there one near you?
As the 150th banking hub opens its doors, a Post Office deal that offers basic banking services has also been extended until 2030. We explain what this means for you