UK-listed EnQuest said its priority remains debt reduction and strengthening its balance sheet as improving commodity prices boosted revenues in the first half of the year despite a 30% fall in daily production.
First-half production fell year-on-year to 46,187 barrels of oil equivalent per day from 66,055 boepd, EnQuest said on Thursday, prompting the company to say it expected annual output to come in at the lower end of guidance.
The shortfall included lower contributions from the Magnus field in the northern North Sea, from its flagship Kraken field and from the Greater Kittiwake Area.
