EnQuest PLC·Energy

Enquest PLC (AIM:ENQ) shares were down some 6.8%, to 17.41p, in Wednesday morning's trade, after the oil producer posted weaker 2025 earnings and a rise in net debt, despite delivering production above the top end of guidance. Group production averaged 42,945 barrels of oil equivalent per day in 2025, up from 40,736 boepd a year earlier, while pro forma production reached 45,606 boepd.

North Sea oil producer EnQuest maintained its 2026 production outlook on Wednesday and said the Middle East war had not caused material disruption to its operations so far, after reporting a 98.3% slump in annual post-tax profit.

North Sea-focussed oil producer EnQuest forecast lower annual production on Monday after storm damage to a third‑party platform led to a five-week outage at its Magnus field.

Enquest PLC is “all-time” cheap on Cavendish's numbers, with the broker initiating coverage at 'Buy' and setting a 26p price target that implies 91% upside to the 13.6p share price. Cavendish argues the North Sea and South-East Asia producer “has never offered better value” in its 15-year history, pointing to low EV/EBITDA multiples and what it describes as sustainable free cash flow alongside a newly established dividend.
EnQuest PLC operates as an oil and gas production and development company. The company explores for, extracts, and produces hydrocarbons in the United Kingdom, North Sea, and Malaysia. It primarily holds interests in the Magnus, Kraken, Scolty/Crathes, Greater Kittiwake Area, Alba, Dons area, and Alma/Galia. The company also has interests in the PM8/Seligi and PM409 production sharing contracts in Malaysia. In addition, it has five production hubs. As of December 31, 2021, the company had proved and probable reserves of 194 million barrels of oil equivalents. Further, it is involved in the construction, ownership, and operation of an oil pipeline; and marketing and trading of crude oil, as well as in leasing activities. EnQuest PLC was incorporated in 2010 and is based in London, the United Kingdom.
Energy
Oil & Gas Exploration & Production
732
2010-10-15
0.01