Enquest, the FTSE 250 oil and gas company, said average 2012 production would be around the middle of previous full year guidance.
The firm also said that its co-founder and chief operating officer, Nigel Hares, was stepping down from the board.
However, he will remain at the firm four days a week, advising on future strategy and development.
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 said production from 1st January to 31st October averaged 21,569 barrels of oil per day, in line with its expectations and reflecting the second half weighted phasing of its 2012 drilling programme.
The company added it was moving outside of the UK North Sea, having established a presence in two new oil basins in Norway and Malaysia.
Amjad Bseisu, Chief Executive, said financial performance, production and cash generation were on track for another strong year.
MM
-
Where are ISA savers and investors putting their money?With less than three months until the end of the tax year, where are ISA savers and investors putting their money? We look at the latest ISA trends.
-
More than £53 billion held in fixed-rate cash ISAs will mature by April - where should savers move their money?If your fixed-rate cash ISA is maturing soon, we look at the options available to you
