Chairman Buckee buys into Enquest weakness

James Buckee, chairman of the North Sea-focused oil and gas group Enquest, has taken advantage of weakness in the share price to up his stake.

He took 50,000 shares at 97.75p a time, spending a total of £48,875. He now has 481,617 shares in the company.

Shares in Enquest have taken a sharp dive since the start of the month, when Buckee took 50,000 shares at 110.2p a time. The shares fell after Enquest said that production from its Conrie field, which was discovered earlier this year, came on production at lower than expected rates.

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Buckee, who has a PhD in Astrophysics, worked for Shell from 1971 to 1977 and for Burma Oil from 1977 to 1987. He then worked at BP rising to chief operating officer of its Canadian operations, becoming chief executive of Talisman Energy (the former BP Canada) in 1993. He became chairman of Enquest in 2010.