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Serica completes Catcher-GEAD acquisition

Serica Energy plc has completed its purchase of a 10% interest in the Catcher field and 5.21% in the Golden Eagle Area Development in the UK central North Sea.

Expects: additional 85,000 boe and associated $8m cash in Q3 2026 (Pixabay)

RESOURCE

The acquisition from ONE-Dyas adds combined net 2P reserves of three million barrels of oil equivalent and 2C resources of 0.5 Mmboe, as at 31 December 2025.

Serica said it had paid $6.75 million and received $13m, reflecting interim post-tax cashflows between the economic date of 1 January 2024 and the date of completion.

The company will additionally receive some 85,000 barrels of oil equivalent in respect of an underlift position, with associated cash of $8m due during the third quarter of 2026.

Harbour Energy plc operates Catcher while CNOOC International operates the Golden Eagle Area Development, which contains the Golden Eagle, Peregrine and Solitaire fields.