Serica Energy: Operations Update
Monday 29 January 2018
Serica Energy plc, an independent oil and gas company with production, development and exploration licence interests in the UK North Sea and exploration interests in Ireland and Namibia, is pleased to provide an operations update.
- Significant expansion and diversification of portfolio with planned acquisition of BP’s interests in the Bruce, Keith and Rhum North Sea fields.
- Average production of approximately 1,975 boe/d net to Serica from Erskine in 2017.
- Tender process underway for drilling rig to commence Rowallan exploration well in H2 2018.
- Rig contracted to perform Rhum #3 well intervention.
- Robust financial position, with cash balance at year-end standing at US$34 million while remaining virtually debt-free.