Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

This Ebony Nectar Outfit May be One of the Better Ways to Oil Your Portfolio.

By Malcolm Stacey

21 March 2016 01:38

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Hello Share Rattlers. It takes a bit of courage to go anywhere near oil shares these days. But we have to be thankful that the price of the ebony nectar seems to have stabilised a bit at around 40 dollars a barrel.

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Comments

Jason

21 March 2016, 02:07

Massive debt + oil sector = avoid for me.
alcira16247

22 March 2016, 03:18

Malcolm

As a contrarian speculative punt, Enquest is a good call.

While Enquest has certainly had to reign in on its ambitious development projects due to the industry woes, it is still poised to experience significant revenue uplift where its prized Kraken field remains on track to produce its first oil early next year. Additionally, it cited this year’s numbers as in the range of 44,000 to 48,000 of boe/d as benefits from its Alma/Galia North Sea assets flow through.

The company has strenuously attempted to reduce and control costs and has bought down its operating outlay to $39 per barrel.

Potentially, given its attractive and sizeable assets, production uplift next year, plus the companies commitment to continued cost controls and reduction of debt, Enquest could well deliver favourable returns in the near future, if and when oil prices strengthen.