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Enquest PLC (AIM:ENQ) shares were down some 6.8%, to 17.41p, in Wednesday morning's trade, after the oil producer posted weaker 2025 earnings and a rise in net debt, despite delivering production above the top end of guidance. Group production averaged 42,945 barrels of oil equivalent per day in 2025, up from 40,736 boepd a year earlier, while pro forma production reached 45,606 boepd.

North Sea oil ​producer EnQuest ‌maintained its 2026 ​production outlook ​on Wednesday and ⁠said ​the Middle East ​war had not caused material ​disruption ​to its operations ‌so ⁠far, after reporting a 98.3% ​slump ​in ⁠annual post-tax profit.

North Sea-focussed oil producer EnQuest forecast lower annual production on Monday after storm damage to a third‑party platform led to a five-week outage at its Magnus field.

Enquest PLC is “all-time” cheap on Cavendish's numbers, with the broker initiating coverage at 'Buy' and setting a 26p price target that implies 91% upside to the 13.6p share price. Cavendish argues the North Sea and South-East Asia producer “has never offered better value” in its 15-year history, pointing to low EV/EBITDA multiples and what it describes as sustainable free cash flow alongside a newly established…