EnQuest H1 Revenue USD 518 Million; Sees Production at Lower End of Guidance
(PLX AI) – EnQuest half year revenue USD 518.3 million, up from USD 450 million last year.
• Half year EBITDA USD 345.4 million, up from USD 320.8 million
• 2021 average net Group production is expected to be at the lower end of the guidance range of 46,000 Boepd and 52,000 Boepd
• This reflects expected performances at Magnus, the Greater Kittiwake Area and PM8/Seligi over the course of the second half of the year
• Operating costs are expected to be approximately $300 million, reflecting lower lease charter credits driven by higher uptime at Kraken, additional production enhancement scopes and topside maintenance activities at Magnus, higher diesel costs and sterling strength