EnQuest (LSE:ENQ) confirmed production guidance pitched at 41,000 to 45,000 barrels oil equivalent per day, after year-to-date output averaged 41.5 kboed and following a strong recovery from a five‑week third‑party outage at Ninian Central Platform in Q1.
The independent energy company said its operated portfolio delivered 89% production efficiency in 2025, it operates 97% of its 2P reserves, and 78% of its 2P base is classified as 1P, providing tight control over asset performance and capital allocation.
"This is a really exciting time for EnQuest, and I am energised by the opportunities, both organic and transactional, which are ahead of us," Amjad Bseisu, Chief Executive, said.
In South East Asia, the group added Vietnam to its production portfolio in 2025, secured a PSC extension after six months of operatorship, delivered first gas from Seligi 1b nine months ahead of schedule and expects the region to deliver 35,000 Boepd net to EnQuest by 2030.
In the UK, the company says it has over 200 MMboe of contingent resources excluding Bressay and Bentley, more than 60 MMboe attributable to Magnus and Kraken, has started a six‑well drilling programme at Magnus and is progressing Kraken EOR and Lower Kimmeridge Clay projects.
EnQuest said it has refinanced its RBL and Bonds at lower costs in the last six months, completed the Magnus contingent consideration settlement and created a five‑year maturity fairway that strengthens its balance sheet.
The board is proposing an upsized $20 million dividend, subject to shareholder approval at the Annual General Meeting.
