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(Sharecast News) - Exploration and production firm Enquest said on Wednesday that it remained on track to meet all of its 2025 guidance targets, with production set to come in at the upper end of forecasts.
Enquest said yeartodate output averaged 45,487 barrels of oil equivalent per day, with fullyear production expected at or above the top of its 40,000 to 45,000 barrels of oil per day range.
The London-listed group also highlighted the early completion of its Seligi 1b gas project in Malaysia, delivered nine months ahead of schedule, with first full production due in January 2026 and expected to add around 6,000 boepd.
Group expenditure was projected to be broadly in line with guidance at about $700m, despite the weaker US dollar.
Enquest also revealed it had secured a new $800m reservesbased lending facility, which it said would strengthen liquidity, provide transactional capacity and underpin decommissioning security.
Looking ahead, Enquest noted it had hedged roughly 3.3m barrels of oil production for 2026 at an average price of $69 per barrel.
As of 0940 GMT, Enquest shares were up 4.16% at 10.31p.
Reporting by Iain Gilbert at Sharecast.com
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