Serica Energy (SQZ)

Sector:

Energy Producers

Index:

FTSE AIM 100

132.80p
   
  • Change Today:
    -3.20p
  • 52 Week High: 268.00p
  • 52 Week Low: 132.19p
  • Currency: UK Pounds
  • Shares Issued: 390.46m
  • Volume: 882,843
  • Market Cap: £518.53m
  • RiskGrade: 160

Serica Energy gets final approval for Belinda field development

By Josh White

Date: Monday 20 May 2024

LONDON (ShareCast) - (Sharecast News) - Independent upstream oil and gas company Serica Energy announced the final approval from the North Sea Transition Authority (NSTA) to develop its wholly-owned Belinda field on Monday.
The AIM-traded firm said the field would be connected to the Triton floating production, storage and offloading (FPSO) vessel after drilling a development well, scheduled for the first half of 2025.

It said the Belinda well would be the fifth in its Triton area drilling campaign, which started in April 2023 using the COSLInnovator drilling rig.

The campaign was part of Serica's strategic efforts to enhance production through the Triton FPSO.

Proven and probable reserves in the Belinda field were estimated at around five million barrels of oil equivalent, with oil making up 80% of the reserves.

Production from the Belinda field was expected to start in the first quarter of 2026, following completion of the tie-back work to the Triton FPSO.

"We are delighted to have received approval to develop Belinda - this will build on our strong track record of delivering growth and adding value through investment in our assets," said chairman and interim chief executive officer David Latin.

"We have further potential projects in our portfolio which we continue to assess, including the possible re-development of the Kyle field, which could, like Belinda, be another low emissions tie-back candidate to the Triton FPSO.

"We look to the UK government to implement tax and licensing arrangements that support investments like Belinda, thereby creating UK jobs, earnings and tax receipts instead of increasing reliance on energy imports."

At 1003 BST, shares in Serica Energy were up 0.88% at 183.5p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Serica Energy Market Data

Currency UK Pounds
Share Price 132.80p
Change Today -3.20p
% Change -2.35 %
52 Week High 268.00p
52 Week Low 132.19p
Volume 882,843
Shares Issued 390.46m
Market Cap £518.53m
RiskGrade 160

Serica Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
100.00% above the market average100.00% above the market average100.00% above the market average100.00% above the market average100.00% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
78.22% below the market average78.22% below the market average78.22% below the market average78.22% below the market average78.22% below the market average
39.24% below the sector average39.24% below the sector average39.24% below the sector average39.24% below the sector average39.24% below the sector average
Income
98.73% above the market average98.73% above the market average98.73% above the market average98.73% above the market average98.73% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
37.25% above the market average37.25% above the market average37.25% above the market average37.25% above the market average37.25% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Serica Energy Dividends

  Latest Previous
  Final Interim
Ex-Div 27-Jun-24 26-Oct-23
Paid 24-Jul-24 23-Nov-23
Amount 14.00p 9.00p

Trades for 15-Jul-2024

Time Volume / Share Price
14:38 1,971 @ 132.64p
14:38 5 @ 132.80p
14:38 436 @ 132.80p
14:38 126 @ 132.80p
14:33 833 @ 132.60p

Serica Energy Key Personnel

CFO Martin Copeland
CEO Chris Cox

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