EnQuest Secures $800 Million in New Lending Facilities

An update from Enquest ( (GB:ENQ) ) is now available.

EnQuest PLC has secured new six-year, senior secured Reserve Based Lending facilities totaling $800 million. This includes a $400 million revolving loan facility and a $400 million revolving letter of credit facility, with an option to extend both by up to $400 million each. The new facilities will refinance the existing $500 million RBL facility and enhance EnQuest’s liquidity profile, providing long-term coverage for decommissioning security obligations. Supported by a syndicate of eight international banks, these facilities align with EnQuest’s growth ambitions and offer a more flexible capital structure.

The most recent analyst rating on (GB:ENQ) stock is a Hold with a £12.50 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.

EnQuest’s overall stock score is driven by strong operational performance and financial discipline, particularly in Southeast Asia, as highlighted in the earnings call. However, the company’s financial performance is mixed, with declining revenues and high leverage. Technical indicators suggest bearish momentum, and valuation concerns persist due to a negative P/E ratio, despite a decent dividend yield.

To see Spark’s full report on GB:ENQ stock, click here.

More about Enquest

EnQuest PLC is an independent energy company operating primarily in the UK North Sea and South East Asia. The company focuses on the responsible management of existing energy assets and aims to be a partner of choice in the energy transition, leveraging its core capabilities to create value. EnQuest PLC is listed on the London Stock Exchange.

Average Trading Volume: 3,365,649

Technical Sentiment Signal: Sell

Current Market Cap: £209.6M

For detailed information about ENQ stock, go to TipRanks’ Stock Analysis page.