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Serica Energy ( (GB:SQZ) ) just unveiled an update.
Serica Energy has released a trading and operations update indicating a promising outlook for 2025, with expectations of increased production and cash flow. The company is currently midway through a successful five-well drilling campaign at Triton, showing promising results. Production has been increasing following the resumption of operations at Triton FPSO, and new wells are expected to further enhance production. Despite a decline in production and revenue in 2024 due to unscheduled downtime, Serica is optimistic about future growth, supported by ongoing asset reliability improvements and strategic investments. The company is also actively exploring M&A opportunities to diversify and grow its business, while preparing for a potential move from AIM to the Main Market of the London Stock Exchange in 2025.
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 (UKCS) assets. The company is responsible for about 5% of the natural gas produced in the UK, which is significant for the UK’s energy transition. Serica’s operations are concentrated around two main hubs: the Bruce, Keith, and Rhum fields in the UK Northern North Sea, and fields tied back to the Triton FPSO. The company also has interests in other fields in the UK Central and Northern North Sea.
YTD Price Performance: 14.42%
Average Trading Volume: 1,373,107
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £604M
Learn more about SQZ stock on TipRanks’ Stock Analysis page.
