Serica Energy PLC

SQZ

Equity

ISIN GB00B0CY5V57 / Valor 2276336

LSE London Stock Exchange, SETS (2025-11-21)

GBP 1.99-5.65%

Serica Energy PLC
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About company

Serica Energy PLC is a British independent company focused on the exploration and production of oil and gas, primarily operating within the UK Continental Shelf (UKCS). The company manages a balanced portfolio of assets in the UK North Sea, producing oil and gas from 11 fields, with over 80% of its production operated directly by Serica. With 2P reserves exceeding 140 million barrels of oil equivalent (BOE), Serica Energy emphasizes innovation and investment to extend the life of its assets and optimize developments through the use of subsea infrastructure. The company is supported by a team of approximately 200 employees and generates robust cash flows that enable it to provide a material dividend to its shareholders.

Summarized from source with an LLMView SourceSector: Energy

Production Decline

Production decreased to 24,700 boepd in H1 2025 from 43,700 boepd in H1 2024, primarily due to the Triton FPSO being offline from January to June.

Revenue and Operating Costs

Revenue for H1 2025 was $305 million, down from $462 million in the same period last year. Operating costs remained relatively stable at $156 million.

Strong Cash Position

Cash reserves increased to $174 million as of June 2025, and adjusted net debt was reduced to $57 million, reflecting effective capital management despite ongoing expenditures.

Optimistic Growth Prospects

Serica Energy anticipates a significant increase in production in the second half of 2025, supported by enhanced uptime at Triton, new wells at Guillemot and Evelyn, and optimization efforts at the Bruce Hub.

Strategic M&A and Development

The company is actively exploring mergers and acquisitions to drive growth and is progressing with the Belinda field subsea tie-in, expected to commence production in early 2026.

Dividend Declaration

An interim dividend of 6p per share has been declared, reflecting the company's ongoing commitment to shareholder returns amidst its growth initiatives.

Summarized from source with an LLMView Source

Key figures

42.3%1Y

-30.9%3Y

78.9%5Y

Performance

52.4%1Y

46.6%3Y

48.6%5Y

Volatility