7th Feb 2023 10:19
Serica Energy PLC - London-based independent oil & gas exploration and production company - Says net production in 2022 averages 26,182 barrels of oil equivalent per day, compared to 23,727 boepd in 2021. Serica Energy says net output continues to benefit from the investment programmes that it has undertaken since the acquisition of interests in Bruce, Keith and Rhum in 2018. The three producing fields are in the UK northern North Sea.
Chief Executive Mitch Flegg says: "The production performance of both the Serica and Tailwind portfolios has remained strong despite some extremely challenging weather conditions during January."
Looking ahead, the company says net production from the Tailwind portfolio of assets has averaged 19,600 boepd last month, which gives a combined net production rate of over 43,300 boepd in January. It expects 2023 average net production to be in the range of 40,000 boepd to 47,000 boepd from the combined Serica and Tailwind portfolios.
Serica bought Tailwind Energy Investments Ltd last month for a total of GBP367 million.
Current stock price: 241.50 pence, up 0.6% on Tuesday morning in London
12-month change: down 7.7%
By Xindi Wei, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Serica Energy