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British oil firm EnQuest cuts full-year production forecast
August 23, 2017 / 6:34 AM / 3 months ago

British oil firm EnQuest cuts full-year production forecast

Aug 23 (Reuters) - North Sea-focused oil producer EnQuest cut its full-year production forecast on Wednesday as prolonged commissioning of its Kraken production storage unit led to lower-than-expected efficiencies.

The company said it expected overall average daily production for the full-year to be similar to the first half 2017 production rate of 37,015 barrels of oil equivalent per day (boepd), plus or minus 10 percent.

This works out to a range of 33313.5 boedpd to 40716 boepd, well below its previous guidance of 45,000 boepd to 51,000 boepd. (Reporting by Arathy S Nair in Bengaluru; Editing by Edmund Blair)

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