British oil company EnQuest is set to sell a 15% working interest as part of a deal with Viaro Energy's subsidiary, RockRose. This latest collaboration underscores EnQuest's strategic efforts to optimize their asset portfolio, navigating through a competitive industry landscape. The specifics of the agreement remain undisclosed but it marks another significant step for EnQuest in the industry.
1. British oil company, EnQuest, plans to sell a 15% working interest as part of a deal with Viaro Energy's subsidiary, RockRose.
2. This deal is a part of EnQuest's strategic efforts to optimize their asset portfolio within a competitive industry.
3. The specifics about the agreement have not been made public yet, but it is considered a significant step for EnQuest in the industry.
4. The deal implies that RockRose will bolster its portfolio in the UK oil sector by purchasing a 15% working interest in EnQuest.
5. This acquisition shows RockRose's strategy to expand its footprint in the UK's oil production industry and its commitment to advance the UK's energy market.
EnQuest produced an average 59,116 barrels of oil equivalent per day (boe/d) in 2020, down from the 68,606 boe/d it produced in 2019.
The deal indicates that RockRose will purchase a 15% working interest in the oil firm. Under the terms of the agreement, Viaro Energy's subsidiary is set to acquire this stake from EnQuest. This strategic move points toward RockRose's expanding footprint in the UK oil sector, bolstering its portfolio within the industry. With this acquisition, the company not only deepens its participation in oil production, but also reaffirms its commitment to advancing the UK's energy market.