February 5, 2021

Independent oil and gas production and development company EnQuest has signed an agreement with Suncor Energy UK Limited to purchase Suncor’s entire 26.69% non-operated equity interest in the Golden Eagle area, for an initial consideration of US$325 million.

The area comprises the producing Golden Eagle, Peregrine and Solitaire fields, and will see the company add immediate incremental production of around 10,000 boepd, 18 million barrels to net 2P reserves and 5 million bbls to net 2C resources.

A four-well infill drilling programme is currently ongoing, with two of the four wells onstream. The programme is scheduled to conclude prior to completion of the transaction, which is expected to take place no later than the end of the third quarter. Read more…