EnQuest Trading update and Deliver Golden Eagle acquisition De-lever Grow
Trading update and Golden Eagle acquisition Introduction Amjad Bseisu Chief Executive 2 EnQuest PLC Trading update and Golden Eagle Acquisition
Trading update 2020 performance in line with guidance - Production within guidance at 59,116 Boepd - Operating expenditure of c.330 million; unit opex of c.15/Boe Deliver - Cash capex of c.130 million - Free cash flow of c.210…
Trading update 2021 guidance - Group production1: 46,000 to 52,000 Boepd - Kraken production (gross): 30,000 to 35,000 Boepd Deliver - Operating expenditure of c.265 million - Cash capex and abex of c.120 million2 - c.4.0 MMbbls…
Golden Eagle acquisition An attractive acquisition in the UK North Sea Acquisition overview Transaction benefits - Acquire 26.69% non-operated equity interest in the Golden Eagle - Immediate incremental production of c.10 kboepd from…
Golden Eagle acquisition Golden Eagle area overview Martin Mentiply Business Development Director 6 EnQuest PLC Trading update and Golden Eagle Acquisition
Golden Eagle acquisition Mid-life asset with a well understood subsurface Golden Eagle Area Development comprises three fields; Golden Eagle, Solitaire and Peregrine - Gas lifted production with reservoir pressure support through…
Golden Eagle acquisition A proven high-performing asset Impressive HSE performance Golden Eagle 2P reserves (gross) (MMboe) - Zero lost time injuries since start-up in 2014 160 120 140 113 - Zero safety critical maintenance…
Golden Eagle acquisition Acquisition financing Jonathan Swinney Chief Financial Officer 9 EnQuest PLC Trading update and Golden Eagle Acquisition
Golden Eagle acquisition Acquisition enables refinancing of existing senior credit facility Debt Key milestones - Anticipate the new secured debt facility will incorporate the - Debt book building process refinancing of the existing…
Golden Eagle acquisition Summary Amjad Bseisu Chief Executive 11 EnQuest PLC Trading update and Golden Eagle Acquisition
Golden Eagle acquisition Acquiring a high-class, low-cost UK North Sea asset - Immediate incremental production of c.10 kboepd - Low unit opex: 2021 estimated at c.5/Boe1 Deliver - Low near-term capital commitments - Strong safety…
Q&A
Appendix A clear purpose and strategy with a focused business model Purpose - Providing creative solutions through the energy transition Strategic vision - To be the operator of choice for maturing and underdeveloped hydrocarbon assets…
Golden Eagle acquisition Golden Eagle area overview Highlights - Discovered in 2007, first oil in 2014 - Strong joint venture partnership - CNOOC: 36.54% (operator) - NEO Energy: 31.56% - Suncor Energy: 26.69% - ONE DYAS: 5.21%…
Golden Eagle acquisition Sub-sea facilities summary Overview - Two sub-sea drill centres connected via rigid production flowlines - 6 slot Northern Drill Centre (NDC) manifold: 6 km - 4 slot Southern Drill Centre (SDC) manifold: 5…
Golden Eagle acquisition Facilities summary Production, utilities and quarters (PUQ) platform with bridge linked wellhead platform (WP) - PUQ and WP are each supported by 4 steel leg substructures - PUQ topsides weight 16,400 t, WP…
Appendix Forward-looking statements This presentation may contain certain forward-looking statements with respect to EnQuests expectation and plans, strategy, managements objectives, future performance, production, costs, revenues,…
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