EnQuest plc has signed new six-year, senior secured reserves based lending facilities for an aggregate $800 million (£608m) with a syndicate of eight “leading international banks”. STRATEGY The syndicate financing the facilities includes “long-standing existing lenders and high-quality new relationships”. The sum comprises a $400m secured revolving loan, a $400m secured revolving letter of credit, […]
Tag: UK North Sea
Kistos issues 2m shares in options exercise
Kistos Holdings plc has applied for a block admission of two million ordinary shares, of £0.10 each, to trade on AIM. The ordinary shares relate to share option exercises under the company’s 2021 employee incentive plan and 2025 long-term incentive plan. Admission is expected on or around 24 October 2025. As at 2 September 2025, […]
Serica extends deadline for EnQuest’s offer
Serica Energy plc has secured an extension to EnQuest plc’s possible all-share offer by way of a reverse takeover for the UK North Sea-focused company. DISCUSSIONS EnQuest was due to state its firm intention to make an offer for Serica by 5pm on 4 April 2025 in accordance with the Panel on Takeovers and Mergers […]
EnQuest offers to merge with Serica
Serica Energy plc said it was in negotiations for a possible merger with EnQuest plc which has made an all-share offer by way of a reverse takeover. ASSETS Serica added that the proposed deal had “substantial potential benefits” including “increasing scale and diversification, unlocking significant synergies and providing a stronger platform for further growth”. The […]
Kistos grants 1.7m incentive share awards
Kistos Holdings plc has granted a total 1,691,639 ordinary shares, including 1,427,124 to executive directors, in accordance with its 2021 equity incentive plan. DIRECTORS Under the long term incentive plan, executive chairman Andrew Austin received awards over 543,666 shares. Chief executive officer Peter Mann received 475,708 awards and chief financial officer James Thompson 407,750. The […]
Serica suspends production from Triton FPSO
Serica Energy plc has suspended production until mid to late March from the Triton FPSO because of issues resulting from last month’s Storm Éowyn. IMPROVEMENT The company said that on 24 January, sea spray triggered the fire and gas detection system, causing an automatic production shutdown of operations. Production restarted on 28 January but “minor […]