EnQuest CEO Says Company Has Cut Capex Significantly

The video discusses the company's hedging strategy, production growth, and capital expenditure reduction. It highlights the impact of tax changes on the oil industry and explores the potential for shale oil production. The company has focused on reinvesting cash flow for growth rather than paying dividends. The discussion also covers the competitive advantage in operating late-life assets and the importance of maintaining infrastructure in the North Sea.

What was the hedged price per barrel for 10 million barrels this year?

• $70

• $75

• $68

• $72

How much did the company increase its production guidance by last year?

• 26%

• 20%

• 31%

• 15%

Why has the company not declared a dividend since 2010?

• Lack of profitability

• Due to low oil prices

• Focus on reinvesting in growth

• High debt levels

What impact did the government's tax changes have on the oil industry?

• Reduced global demand

• Decreased oil prices

• Encouraged investment in the North Sea

• Increased production costs

At what price range is shale oil production expected to resume?

• 30s or 40s

• 50s or 60s

• 70s or 80s

• 90s or 100s