Enquest Plc,Grey Market
Advanced Chart
  • Thu, Sep. 8, 9:08 AM
    | Thu, Sep. 8, 9:08 AM
  • Mon, Jul. 18, 8:55 AM
    • Delek Group (OTCPK:DGRLY) agrees to acquire a 20% stake in the U.K.-based Kraken oil field from EnQuest (OTC:ENQUF) for $162M, as it seeks opportunities outside the Israeli natural gas market.
    • The purchase is part of Delek’s strategy to acquire industry know-how and grow into an international energy brand.
    • Production in the Kraken field, which holds 147M barrels of heavy oil, is expected to begin in 2017.
    | Mon, Jul. 18, 8:55 AM
  • Thu, Mar. 17, 8:33 AM
    • Enquest (OTC:ENQUF): FY'15 EPS of -$0.98.
    • Revenue of $906.6M (-10.2% Y/Y).
    | Thu, Mar. 17, 8:33 AM
  • Wed, Mar. 16, 11:31 AM
    • BP and Royal Dutch Shell (RDS.A, RDS.B) are each ~1.2% higher after the U.K. announces tax cuts for the North Sea oil and gas industry.
    • Chancellor of the Exchequer Osborne cuts the supplementary charge for the oil and gas industry to 10% from 20%, bringing the overall corporate tax rate to 40% from 50%, and scraps the 35% Petroleum Revenue Tax; the changes will be backdated, starting from January of this year.
    • The tax cuts come after Brent oil prices fell by more than 60% since mid-2014, making much of the production in the U.K. North Sea uneconomic as costs escalate at aging fields.
    • Shares of independent oil companies operating in the U.K. North Sea - including EnQuest (OTC:ENQUF), Cairn Energy (OTCPK:CRNCY) and Premier Oil (OTC:PMOIF) - surged on the news.
    | Wed, Mar. 16, 11:31 AM | 14 Comments
  • Oct. 5, 2015, 5:34 PM
    | Oct. 5, 2015, 5:34 PM | 8 Comments
  • Jan. 2, 2015, 2:55 PM
    • Europe largely missed out on last year's $383B in oil and gas sector M&A activity, but Europe likely will get a bigger piece of the action in 2015 if current oil prices persist, according to Reuters' Fiona Maharg-Bravo.
    • Net debt at smaller explorers such as Tullow Oil (OTCPK:TUWLF, OTCPK:TUWOY), Premier Oil (OTC:PMOIF), Afren (OTCPK:AFRNF) and EnQuest (OTC:ENQUF) could all reach 3x EBITDA if oil remains at $60/bbl through 2015, Barclays estimates.
    • BG Group (OTCPK:BRGXF, OTCQX:BRGYY) has long been a target, and the new CEO starts in March; BP faces big liabilities in the Gulf of Mexico and volatility in Russia, it’s not clear if Shell (RDS.A, RDS.B) will make a move, while Exxon (NYSE:XOM) and other U.S. majors could be tempted.
    | Jan. 2, 2015, 2:55 PM | 6 Comments
  • Jun. 13, 2014, 9:54 AM
    • Exxon Mobil (XOM +0.2%) agrees to sell its 50% stake in the Seligi oil field offshore Malaysia to U.K.-based EnQuest (ENQUF) for an undisclosed sum; Malaysia's Petronas will retain the other 50%.
    • Seligi is EnQuest's third Malaysian project and will boost the company's net production by ~5K boe/day and add 11M boe to its net reserves.
    • XOM, which considers Seligi a mature asset, says it remains a significant investor in Malaysia's oil and gas industry, as it continues to operate 32 platforms in 12 producing fields and retains a working interest in another 10 platforms in five fields in the South China Sea.
    | Jun. 13, 2014, 9:54 AM | 7 Comments