EnQuest, who's share price was hit by the UK governments tax hike on North Sea oil operators, has indicated that it remains on track to deliver full year average production guidance in line expectations, at 24,000 barrels of oil equivalent per day.
EnQuest is currently in the process of concluding its ten well drilling programme for 2011. The firm indicated that while its Ivy prospect has proved unsuccessful, five new production wells in the North Sea have now come onstream.
Production at end of October was up 20% at 23,944 boepd from 19,876 boepd last year as the firm added that EnQuest had consolidated positions in 2011.
'Increased interests in the Broom field and the Crawford block helped to drive strong growth in our net reserves' said Chief Executive Amjad Bseisu.
In other oil and gas news Aminex reported that it expects to spud its Tanzanian Ntorya-1 exploration well next month. Aminex says it continues to make significant progress in its position within the Rufiji Delta and Ruvuma Basin regions of Tanzania.
European shale-gas firm 3Legs Resources has completed a hydraulic fracture programme at its Warblino LE1H2 Baltic Basin well. The horizontal well flowed at an initial rate of 60-90 million standard cubic feet per day of natural gas.