Trade Enquest - ENQs CFD

About Enquest Plc

EnQuest PLC is a United Kingdom-based production and development company. The Company's principal activities are the exploration for, and extraction and production of, hydrocarbons in the United Kingdom Continental Shelf and Malaysia. The Company focuses on maturing assets and undeveloped oil fields. The Company’s geographical segments include the North Sea and Malaysia. The Company’s upstream operations include its Magnus, Kraken, Golden Eagle, Greater Kittiwake Area, Scolty/Crathes and Alba assets. The Malaysian operations include its PM8 Extension Production Sharing Contract, consisting of the PM8 and Seligi Fields and the Block PM409 Production Sharing Contract. The Company’s infrastructure and new energy business division is providing creative solutions through the energy transition.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Enquest Plc revenues increased 47% to $1.27B. Net income totaled $377M vs. loss of $469.9M. Revenues reflect Revenue from crude oil sales increase of 46% to $1.14B, Revenue from gas and condensate sales increase from $60.5M to $244.1M, Other operating revenue increase of 86% to $3.3M. Net Income reflects Impairment of Oil & Gas Assets decrease from $422.5M (expense) to $39.7M (income).