Serica Energy plc has secured a 40% farm-in on the Wagtail oil discovery and the March and Bancroft exploration prospects, within licence P2530, for an initial $650,000. EXTENSION The agreement is with Australian-listed Finder Energy which currently holds the central North Sea licence with a 60% operated interest. Dana Petroleum holds the 40% balance. Serica […]
Tag: Serica Energy plc
Serica’s move to main market delayed
Serica Energy plc said the effect of its recently proposed acquisitions made it unlikely to complete its planned 2025 move from AIM to the main market of the London Stock Exchange. PROSPECTUS The company plans to buy BP’s 32% non-operated working interest in UK central North Sea licences P111, containing the Culzean gas condensate field, […]
Serica resumes production from Triton
Serica Energy plc has resumed production from the Triton floating production storage and offloading vessel, following a suspension of operations at the end of last month. INCREASE An issue with the flare system temporarily halted production on 30 September until operator Dana Petroleum resolved the matter. “Production resumed in line with expectations at a limited […]
Serica plans to buy BP’s stake in Culzean field
Serica Energy plc plans to buy BP’s 32% non-operated working interest in UK central North Sea licences P111, containing the Culzean gas condensate field, and the adjacent P2544, for $232 million cash. WORLD-CLASS The purchase is subject to a 30-day pre-emption period during which Culzean partners – operator TotalEnergies holding 49.99%, and NEO NEXT (18.01%) […]
Serica further lowers guidance after new setback
Serica Energy plc has again lowered guidance after an “issue with the flare system” on the Triton FPSO temporarily suspended production from 30 September. ROBUST The company said that operator Dana Petroleum had advised that production was “likely to restart shortly”. Rates are expected to be “severely limited until the root cause of the problem […]
Serica to buy Lancaster field owner, Prax
Serica Energy plc has agreed a $25.6 million purchase of Prax Upstream Ltd and Prax Exploration & Production plc, owner of the Lancaster field, west of Shetland in the North Sea. BOOST The acquisition also includes Prax Upstream’s sale and purchase agreements with TotalEnergies and ONE-Dyas. On completion, Serica will own a 40% operated interest […]