Enquest Plc 46.4% potential upside indicated by Barclays

Enquest Plc with ticker (LON:ENQ) now has a potential upside of 46.4% according to Barclays.



Barclays set a target price of 22 GBX for the company, which when compared to the Enquest Plc share price of 15 GBX at opening today (19/09/2023) indicates a potential upside of 46.4%. Trading has ranged between 14 (52 week low) and 31 (52 week high) with an average of 4,841,066 shares exchanging hands daily. The market capitalisation at the time of writing is £278,622,485.

EnQuest PLC is a United Kingdom-based independent production and development company. The Company’s operations are focused on maturing and underdeveloped assets in the United Kingdom and Malaysia which offer organic growth opportunities. The Company’s segments include the North Sea and Malaysia. The North Sea’s activities include Upstream operations, Decommissioning and Infrastructure & New Energy. Malaysia’s activities include Upstream operations. Its production operations include its Magnus, Kraken, Golden Eagle, Greater Kittiwake Area, Scolty/Crathes and Alba assets. Its Malaysian operations include its PM8 Extension Production Sharing Contract, consisting of the PM8 and Seligi Fields and the Block PM409 Production Sharing Contract. Its decommissioning operations include the fields; Thistle/Deveron, Heather/Broom, Alma/Galia and The Dons. Block PM409 measures approximately 1,700 square kilometers and is located offshore Peninsular Malaysia in water depths of 70 to 100 meters.