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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Enquest Plc | LSE:ENQ | London | Ordinary Share | GB00B635TG28 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 16.24 | 16.00 | 16.32 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 1.58B | -30.83M | -0.0167 | -9.71 | 299.02M |
From May 2019 to May 2024
By Oliver Griffin
EnQuest PLC (ENQ.LN) said on Wednesday that it has agreed with BP PLC (BP.LN) to undertake the management of physical decommissioning activities for Thistle and Deveron, two North Sea oil fields, for $50 million.
EnQuest first reported that it had the option to decommission the two fields on Jan. 24., when it announced the acquisition of a 25% stake from BP of the Magnus oil field.
The company said it would receive $30 million in cash for managing the fields' decommissioning and making payments by reference to 3.7% of the gross decommissioning costs, with an option to receive an additional $20 million in cash in exchange for making additional payments by reference to 2.4% of the gross decommissioning costs.
EnQuest said that the transaction aligns the interests of all the involved parties.
Shares at 0810 GMT were up 1.2%, or 0.45 pence, at 38.15 pence.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
January 31, 2018 03:37 ET (08:37 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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