Enwell Energy Faces Production Challenges in Ukraine

Enwell Energy Plc (GB:ENW) has released an update.

Enwell Energy Plc has reported a decline in Q1 2024 production from its Ukrainian gas and condensate fields due to the ongoing conflict and regulatory challenges, with operations at VAS and SC fields suspended. Despite the difficult operating conditions, the company maintains production at other sites and holds substantial cash resources of approximately $86.2 million. Board and management changes have also occurred, with interim leadership focusing on navigating the current challenges and protecting the company’s assets.

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