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.
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
-
Michelin Key Hotels 2025: the top destinations in the worldThe Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz
