Production drives 88-fold profit surge at Serica Energy
Serica Energy (LON: SQZ) has seen its profits surge 88-times over year-on-year amid a boost to new production.
Mitch Flegg
Serica, Kistos call off £1bn merger after rival takeover bids
North Sea producers Serica Energy (LON: SQZ) and Kistos (LON: KIST) have confirmed neither party will make a final offer on the other, drawing a line under a series of takeover bids.
Serica Energy rejects updated £1.15bn bid from North Sea rival Kistos
Serica Energy (LON: SQZ) has knocked back a new cash and share-for-share bid from rival Kistos (LON: KIST) worth £1.15 billion, which may replace Mitch Flegg as CEO.
Serica Energy boosts production from 24-year-old BP well
Serica Energy (LON: SQZ) has quadrupled production from a 24-year-old BP well in the North Sea.
Serica Energy looking outside the UK for M&A deal
North Sea operator Serica Energy (LON: SQZ) has said it is “increasingly” exploring M&A opportunities outside of the UK.
Serica responds to ‘significant fall’ in share price following windfall tax
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.
‘A bigger chance of failure than success’: Serica CEO downplays odds at North Eigg
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 enjoys £390 million profits surge on higher commodity prices
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 restarts Rhum after subsea module fault
Serica Energy confirmed Thursday that production had resumed from its Rhum field, following an outage reported last month.
Frustration for Serica as Rhum field hit with production shutdown
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.
‘Push on and do more’: Serica Energy looks to next level of North Sea investment
“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, less emissions’: TotalEnergies, Harbour and Serica Energy bosses on North Sea future
“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 CEO toasts strategy after gas spike means key projects ‘bore fruit’
Serica Energy’s chief executive has reaffirmed the company’s commitment to pursuing an “investment-led strategy” this year.
Serica Energy achieves first production from long-awaited Columbus development
UK oil and gas firm Serica Energy (LON: SQZ) has announced first production from its 14 million barrel Columbus field.
Hedging losses and production outages dent Serica Energy profits
Serica Energy profits tumbled 90% in the first half of the year as its gas hedging position and planned outages took a toll.
Columbus ‘difficulties’ cost Serica £3million
Serica Energy has outlined “difficulties” in drilling the Columbus development in the North Sea, costing the operator £3million.
Serica on track to spud North Eigg in summer 2022, targeting more than 60m boe
Serica Energy is on track to drill the North Eigg exploration well in summer next year, its CEO has said.
Serica Energy extends life of Bruce field to 2030
Serica Energy has extended the life of its flagship Bruce field in the North Sea through to 2030.
Serica boss praises North Sea licensing decision, says ban wouldn’t have ‘floored’ firm
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”.
Preparations to drill North Eigg underway as Serica posts ‘strong balance sheet’ for 2020
Serica Energy has confirmed preparations are underway to drill the North Eigg gas prospect after strengthening its “financial and operational foundations” in 2020.
Serica kicks off drilling on Covid-delayed Columbus project
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 kicks off work at Rhum R3 well, pushes Columbus back to late 2021
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 hunts for deals as majors look to rationalise portfolios
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 announces maiden dividend despite Covid-19
Serica Energy has announced its maiden dividend to “reward shareholders” despite the challenges of Covid-19.
Serica ‘resilient’ as it brings in Awilco rig to drill North Sea well
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.