Serica Energy (LON: SQZ) has seen its profits surge 88-times over year-on-year amid a boost to new production.
Serica Energy (LON: SQZ) has quadrupled production from a 24-year-old BP well in the North Sea.
North Sea operator Serica Energy (LON: SQZ) has said it is “increasingly” exploring M&A opportunities outside of the UK.
Serica Energy has pressed the importance of stable fiscal policy after news of the UK Government’s windfall tax knocked around 20% off the company’s share price.
The head of Serica Energy has downplayed the chances of success at its North Eigg exploration well due to be spudded later this summer, but maintains the prospect is a good one.
Serica Energy enjoyed an “outstanding year” in 2021 as gross profits surged to £386.8 million, reversing £2.9m losses the prior year, amid a huge bump to commodity prices.
Serica Energy confirmed Thursday that production had resumed from its Rhum field, following an outage reported last month.
Serica Energy (LON: SQZ) has said production at its Rhum field is not expected to restart for “at least two weeks” after a fault was identified with a subsea module.
“A really opportune moment” beckons for Serica Energy, according to chief executive Mitch Flegg, with gas prices strong, new production online and, since the turn of the year, reaching a major milestone for its North Sea business.
“More energy and less emissions” is how TotalEnergies’ North Sea boss summarises the company’s strategy for the coming years. And that, broadly speaking, is reflected across the plans of others too.
Serica Energy’s chief executive has reaffirmed the company’s commitment to pursuing an “investment-led strategy” this year.
UK oil and gas firm Serica Energy (LON: SQZ) has announced first production from its 14 million barrel Columbus field.
Serica Energy profits tumbled 90% in the first half of the year as its gas hedging position and planned outages took a toll.
Serica Energy has outlined “difficulties” in drilling the Columbus development in the North Sea, costing the operator £3million.
Serica Energy is on track to drill the North Eigg exploration well in summer next year, its CEO has said.
Serica Energy has extended the life of its flagship Bruce field in the North Sea through to 2030.
Serica Energy’s chief executive says the decision not to outlaw new North Sea exploration licences was “very important” in helping the industry “step back from the cliff edge”.
Serica Energy has confirmed preparations are underway to drill the North Eigg gas prospect after strengthening its “financial and operational foundations” in 2020.
Serica energy has started drilling the development well for its 14million-barrel Columbus project in the North Sea, which was delayed by Covid.
Serica Energy has started work to boost production at its Rhum field, while the 13million barrel Columbus project has been delayed to the second half of 2021.
Serica Energy chief executive Mitch Flegg has said the North Sea oil and gas firm is on the hunt for acquisitions as majors look to “rationalise” their portfolios.
Serica Energy has announced its maiden dividend to “reward shareholders” despite the challenges of Covid-19.
Serica Energy's boss has said his firm will "weather the downturn" as it executed a deal to bring in an Awilco rig to drill a North Sea field.