Latest news for EnQuest (OTC:ENQUF) Stock

EnQuest PLC is a UK independent producer of oil and gas. The principal activities of the company and its subsidiaries are the exploration for, and extraction and production of, hydrocarbons in the UK Continental Shelf and Malaysia. It focuses on maturing assets and undeveloped oil fields. Its geographical segments include the North Sea and Malaysia. The company generates maximum revenue from the North Sea.

EnQuest PLC

Enquest (GB:ENQ) has released an update. EnQuest PLC has repurchased over 51 million of its own shares since April, with 703,219 shares bought back...

EnQuest PLC Enhances Share Management Strategy

Enquest (GB:ENQ) has released an update. EnQuest PLC has acquired 185,031 of its own ordinary shares on December 4, 2024, as part of a repurchase p...

EnQuest PLC Enhances Value with Share Buyback

Enquest (GB:ENQ) has released an update. EnQuest PLC has repurchased over 51 million of its own shares, with a significant portion allocated for ca...

EnQuest Executes Major Share Buyback Program

Enquest (GB:ENQ) has released an update. EnQuest PLC has repurchased 392,169 of its ordinary shares as part of a share buyback program, leading to ...

EnQuest Enhances Shareholder Value with Buyback Program

Enquest ( ($GB:ENQ) ) has shared an update. EnQuest PLC has announced a new agreement to develop additional gas resources at the Seligi field in Ma...

EnQuest Expands Seligi Gas Agreement in Malaysia

Enquest ( ($GB:ENQ) ) has shared an announcement. EnQuest PLC, an oil and gas company, has been engaging in share buyback activities as part of its...

EnQuest Executes Strategic Share Buyback

An update from Enquest ( ($GB:ENQ) ) is now available. EnQuest PLC announced the repurchase of its own shares, purchasing 276,967 shares at an aver...

EnQuest PLC Advances Share Repurchase Program

Enquest ( ($GB:ENQ) ) just unveiled an announcement. EnQuest PLC recently executed a share buyback program, purchasing 242,361 ordinary shares thro...

EnQuest PLC Executes Strategic Share Buyback

Enquest ( ($GB:ENQ) ) just unveiled an update. EnQuest PLC, a company involved in the energy sector, has announced a recent transaction involving t...

EnQuest Announces Share Repurchase and Capital Management Strategy

Enquest ( ($GB:ENQ) ) has shared an update. EnQuest PLC, a company engaged in the oil and gas industry, announced the repurchase of 639,986 of its ...

EnQuest PLC Executes Share Repurchase to Optimize Capital Structure

ENQUF

EnQuest

EnQuest PLC (OTC:<a class="ticker" href="/stock/ENQUF#OTC">ENQUF</a>), is pleased to announce an agreement to acquire from BP (NYSE:<a class="ticker" href="/stock/BP#NYSE">BP</a>) an initial 25% interest in the Magnus oil field (&quot;Magnus&quot;) representing c.15.9 MMboe of additional net 2P reserves (gross reserves of 63.4 MMboe) with net production of 4.2 Mboe/d in 2016 (gross production 16.6 Mboe/d) as well as a 3.0% interest in the Sullom Voe oil terminal and supply facility (&quot;SVT&quot;), 9.0% of Northern Leg Gas Pipeline (&quot;NLGP&quot;), and 3.8% of Ninian Pipeline System (&quot;NPS&quot;) (collectively the &quot;Transaction Assets&quot;). EnQuest currently has existing interests of 3.0% in SVT, 5.9% in NLGP and 2.7% in NPS.

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	EnQuest will become the operator of the Transaction Assets; the transaction is subject to certain regulatory, government authority, counterparty and partner consents. The transition for the change in operatorship is anticipated to take between 6 and 12 months.

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	The consideration for these interests is $85 million (subject to working capital and other adjustments), which will be funded by deferred consideration payable from the cash flow of the Transaction Assets. There are no requirements for cash from EnQuest other than as generated from the Transaction Assets. In addition, EnQuest has an option to acquire the remaining 75% of Magnus and BP&#39;s interest in the associated infrastructure. EnQuest also has the option to receive $50 million from BP in exchange for undertaking the management of the physical decommissioning activities for Thistle and Deveron and making payments by reference to 6% of the gross decommissioning costs of Thistle and Deveron fields.

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Latest news for EnQuest (OTC:ENQUF) Stock

Tuesday, January 24, 2017

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