EnQuest PLC (ENQUF,ENQ.L), a London-based independent petroleum exploration and production company, reported on Wednesday that its profit before tax decreased in the first half of 2025 compared with the same period in the previous year.
For the first half of the year, profit before tax fell to $65.58 million from $111.28 million in the prior year.
Loss per share was $0.093 versus earnings per share of $0.016 last year.
Adjusted loss attributable to the company's shareholders came in at $43.08 million compared with profit of $84.18 million in the same period last year.
Adjusted EBITDA declined to $234.61 million from $367.50 million in the previous year.
Profit from operations before tax decreased to $138.73 million from $179.88 million in the prior year.
Revenue declined circa 6 percent to $549.12 million from $586.02 million in the previous year.
Production for the period slid to 38.257 Boepd from 42.771 Boepd last year.
Further, the company said it remains on track to meet its 2025 production guidance of 40,000 to 45,000 barrels of oil equivalent per day, including around 5,000 Boepd from Vietnam.
The company also said that its full-year expectations remain unchanged, with operating expenditures around $450 million, cash capital spending about $190 million, and abandonment costs near $60 million, all on a pro forma basis, including Vietnam.
On Tuesday, EnQuest closed trading 3.53% higher at 11.74 pence on the London Stock Exchange.
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