EnQuest Says It’s On Track To Meet 2022 Goals; back guide
By Anthony O. Goriainoff
EnQuest PLC said on Monday it was on track to meet its 2022 targets and backed its guidance for the year.
The UK and Malaysia-focused oil and gas company said its group average net production in the four months to April 30 was 50,361 barrels of oil equivalent per day. The company said this was due to positive production efficiency across its portfolio.
The company said it expects the group’s average net production for the year to be between 44,000 and 51,000 boe/d, with gross production at the Kraken well around 22,000 to 26,000. boe/d.
The company said it has an extensive well program planned at several of its assets through 2022, and that will be offset by planned major maintenance shutdowns at two of its wells in the third quarter, as well as declines. natural.
EnQuest reiterated that it expects operating expenses for the year of approximately $430 million and cash capital expenditures of approximately $165 million, with abandonment expenses expected to be approximately $75 million. of dollars.
“The group continues to explore options to refinance its high yield bond before maturity in October 2023,” the company said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com