EnQuest hits output targets

Producer EnQuest hit its production targets for 2012, it said yesterday, producing an average 22,802 barrels a day. The FTSE 250 explorer, which last month became the first oil company to launch a retail bond, had given guidance of between 20,000 and 24,000 barrels of oil equivalent a day. EnQuest added that the first oil was expected from its Alma/Galia project in the North Sea in the fourth quarter of this year. Separately, the London-listed explorer said its bond offer period would close this Friday, and the offer would be at least £100m.