Performance highlights: EnQuest’s 2016 Full Year Results    
     
Summary production statistics and key financials    
   
Indicator 2016 2015
Production (Boepd) 39,751 36,567
Revenue and other operating income ($m)*** 849.6 906.6
Realised oil price $/bbl 63.8 72.0
Gross profit ($m) 196.1 173.2
Profit before tax & net finance costs ($m) 237.1 173.9
EBITDA ** ($m) 477.1 474.2
Cash generated from operations ($m) 408.3 221.7
Reported basic earnings per share (cents) 22.7 (98)
Cash capex ***** ($m) 609.2 751.1
End 2016 End 2015
Net (debt)/cash *** ($m) (1,796.5) (1,548.0)

**EBITDA is calculated on a business performance basis, and is calculated by taking profit/loss from operations before tax and finance income/(costs) and adding back depletion, depreciation,  foreign exchange movements and the realised gains/loss on foreign currency derivatives related to capital expenditure. The prior year EBITDA has been restated on a comparable basis by adding back realised losses on foreign currency derivatives related to capital expenditure of $9.4 million.   *** Including revenue of $255.8 million (2015: $261.2 million) associated with EnQuest’s oil price hedges. ****Cash capex is stated net of proceeds received from the disposal of tangible and intangible fixed assets of $1.5 million (2015: $75.5 million) ***** Net (debt)/cash represents cash and cash equivalents less borrowings, stated excluding accrued interest and the net-off of unamortised fees.

As at 21 March 2017