Serica Energy plc has bought Spirit Energy Ltd’s remaining 15% non-operated interest in the Cygnus gas field, and producing assets in the Greater Markham Area and Southern North Sea, for £98 million. DRILLING The transaction, comprising a headline consideration of £57m and £41m of decommissioning liabilities, has an effective economic date of 1 January 2025. The […]
Tag: Centrica plc
Spirit sells 46.25% stake in Cygnus to Ithaca
Spirit Energy Ltd has agreed a £215 million sale of a 46.25% interest in the Cygnus gas field, 150km east of the Lincolnshire coast in the Southern North Sea. VALUE The company will retain a 15% stake while Israeli purchaser and operator Ithaca Energy plc will hold 85%. Spirit’s 2P reserves will reduce by 19.4 million […]