UK's EnQuest 2025 production exceeds guidance, expands in Asia

Enquest

23/02/2026 07:09

Overview

UK energy firm's 2025 production exceeded guidance, maintaining strong cost management

Company expanded operations in South East Asia, acquiring Vietnam business

Severe weather impacted early 2026 UK North Sea operations, but stable production expected

Outlook

EnQuest expects 2026 production between 41,000 Boepd and 45,000 Boepd

Company plans 2026 capital expenditure of c.$160 mln

EnQuest advancing six-well drilling campaign at Magnus in 2026

Result Drivers

HIGH ASSET UPTIME - EnQuest achieved an asset uptime of 89%, contributing to production exceeding guidance

SOUTH EAST ASIA EXPANSION - Expansion in South East Asia, including Vietnam acquisition and Seligi 1b project, boosted production

COST MANAGEMENT - Strong cost management kept expenditures below guidance despite currency challenges

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Debt
$435 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for EnQuest PLC is GBp23.00, about 52.7% above its February 20 closing price of GBp15.06

Press Release: ID:nRSW9917Ta

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)