EnQuest Shares Dip as 2026 Production Forecast Tightened

Britain’s North Sea oil producer EnQuest saw its shares slide after the company announced a tighter outlook for 2026, trimming the upper end of its production forecast to 41,000–43,000 barrels of oil equivalent per day (boepd). The cut comes after a five‑week outage at the Magnus field, caused by a third‑party infrastructure failure, which disrupted output during a critical period.

Despite the setback, EnQuest reported a strong first‑half performance, with an adjusted pre‑tax profit of $54.6 million. The company credited robust growth in its South East Asia operations and a quick operational recovery to help offset the impact of the outage.

The announcement triggered a 1.5% decline in EnQuest’s shares on Thursday, reflecting investor concern over the lower production ceiling and the potential for continued operational disruptions.

EnQuest remains focused on stabilising its North Sea assets while exploring opportunities to strengthen its offshore portfolio and maintain profitability in a volatile market environment.