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EnQuest posted a $173.5M half-year loss due to lower production and UK windfall tax charges, but kept its full-year outlook.
EnQuest reported a first-half 2025 post-tax loss of $173.5 million, down from a $30.3 million profit, due to lower production and a $123.9 million non-cash tax charge linked to UK windfall taxes.
Production averaged 38,257 barrels of oil equivalent per day, down from 42,771, mainly due to a five-week outage at the Magnus field.
Despite the loss, the company maintained its full-year production and financial outlook, citing strong operational performance and investments in North Sea and Southeast Asian assets.
It emphasized growing frustration with UK fiscal policy, warning it undermines competitiveness and energy security, while advancing gas exploration in Asia.
EnQuest registró una pérdida de $ 173.5 millones en el semestre debido a la menor producción y los cargos fiscales por ganancias inesperadas del Reino Unido, pero mantuvo su perspectiva para todo el año.