By BFN News | 09:00 AM | Thursday 04 February, 2021 Oil and gas company Enquest said it expected lower production in 2021 as it would cease production at the Dons field in the first quarter for planned maintenance.
The company said 2021 average net production was expected to be between 46,000 boepd and 52,000 boepd, well below the average production of 59,116 Boepd reported in 2020.
Operating expenditure for 2021 was expected to be approximately $265 million.
In a separate statement company also said it had agreed to acquire Suncor Energy UK s 26.69% stake in Golden Eagle area for an initial consideration of $325 million, with an additional consideration payment in H2 2023 of up to US$50 million.
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Production tipped to slip
Enquest pulled an average 59,116 barrels of oil equivalent out of the ground per day in 2020, it said. This was down from the 68,606 barrels of the black stuff it produced in the prior year.
Cheerily, its gigantic Kraken oilfield in the North Sea generated a daily average of 26,450 barrels of oil in 2020. This was at the top end of guidance thanks to the high operation of floating production storage and offloading (FPSO) units at the asset. Enquest’s share of Kraken output averaged 25,172 barrels a day in 2019.