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Enquest ( (GB:ENQ) ) has issued an announcement.
EnQuest PLC has signed Production Sharing Contracts (PSCs) for the Gaea and Gaea II exploration blocks in Papua Barat, Indonesia, marking its entry into the Indonesian market. With a 40% participating interest, EnQuest is the PSC operator alongside its partners, including the Tangguh Joint Venture and PT Agra Energi Indonesia. The blocks have significant resource potential, estimated to be over 100 Tscf, and are located near the bp-operated Tangguh LNG facility. This development is expected to enhance EnQuest’s South East Asia portfolio, contributing to its goal of delivering over 35,000 Boepd of production by 2030.
The most recent analyst rating on (GB:ENQ) stock is a Hold with a £13.50 price target. To see the full list of analyst forecasts on Enquest stock, see the GB:ENQ Stock Forecast page.
Spark’s Take on GB:ENQ Stock
According to Spark, TipRanks’ AI Analyst, GB:ENQ is a Neutral.
The overall stock score is primarily influenced by the company’s mixed financial performance, characterized by declining revenues and high leverage, balanced by strong cash flow generation. The technical analysis suggests bearish momentum, while the valuation indicates the stock may be undervalued with an attractive dividend yield.
To see Spark’s full report on GB:ENQ stock, click here.
More about Enquest
EnQuest PLC is an independent energy company with operations in the UK North Sea and South East Asia. The company focuses on providing creative solutions through the energy transition and aims to be the partner of choice for the responsible management of existing energy assets. EnQuest trades on the London Stock Exchange.
Average Trading Volume: 3,002,570
Technical Sentiment Signal: Hold
Current Market Cap: £233.8M
Learn more about ENQ stock on TipRanks’ Stock Analysis page.