EnQuest shows free cash flrow more than doubled in first half as oil prices soared

Energy Written by: Jamie Ashcroft 07:37 Thu 03 Sep 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Enquest PLC ( AIM:ENQ ) View Price & Profile EnQuest shows free cash flrow more than doubled in first half as oil prices soared Published: 07:37 03 Sep 2026 BST EnQuest PLC (AIM:ENQ) announced adjusted free cash flow more than doubled in the first half of 2026 as higher production and oil prices outweighed disruption at its Magnus field, while the group tightened full-year production guidance. Adjusted free cash flow rose 118% to $71.3 million and cash generated from operations increased 31% to $281.4 million. Production averaged 41,544 barrels of oil equivalent per day, up 9% year on year, helped by new Vietnamese output and higher Malaysian gas production. Magnus suffered six weeks of downtime following a third-party infrastructure outage, reducing group production by around 4,100 Boepd and deferring a cargo worth approximately $60 million beyond the half year. EnQuest consequently narrowed 2026 production guidance to 41,000–43,000 Boepd, while keeping its $670 million full-year asset expenditure forecast unchanged. Adjusted EBITDA increased 13% to $273.0 million, although EnQuest recorded a statutory post-tax loss of $39.9 million after non-cash unrealised hedging losses. Net debt increased to $517 million from $433.9 million at the end of 2025 following refinancing, acquisition-related payments and the settlement of the Magnus contingent consideration. The company is meanwhile working towards completing its $833 million acquisition of interests in four Malaysian production-sharing contracts on 31 December. Based on 2025 figures, the enlarged group would produce around 100,000 Boepd, with roughly 300 million barrels of oil equivalent of 2P reserves. Continue reading