Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Serica Energy ( (GB:SQZ) ) has shared an update.
Serica Energy has announced its acquisition of 100% shares in Parkmead (E&P) Limited from Parkmead Group Plc, which includes significant interests in the Skerryvore and Fynn Beauly licences. This strategic move, valued at an initial £5 million with deferred and contingent payments, enhances Serica’s position in these assets, consolidating its interests and providing strategic flexibility, particularly in the Skerryvore licence where it will now hold a 70% stake. The acquisition also comes with tax advantages due to Parkmead’s carried forward tax losses, and is expected to close in the first half of 2025, pending customary approvals.
More about Serica Energy
Serica Energy is a British independent oil and gas exploration and production company with a diverse portfolio of UK Continental Shelf assets. The company is a significant contributor to the UK’s natural gas production, accounting for approximately 5% of the country’s output, and is actively involved in the energy transition. Serica’s operations are concentrated in the Northern North Sea and the Central North Sea, with key assets including the Bruce, Keith, and Rhum fields, as well as interests in several other producing and early-stage fields.
YTD Price Performance: -34.03%
Average Trading Volume: 1,615,978
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £503.3M
For a thorough assessment of SQZ stock, go to TipRanks’ Stock Analysis page.
