Serica Energy eyes major 2026 output boost after acquisitions

Serica Energy is anticipating a important summation successful accumulation for 2026, driven by improved operational show and the completion of acquisitions that could much than treble its producing fields.

As per its latest trading and operations update, the UK North Sea relation has started the twelvemonth with accumulation levels notably higher than successful 2025. To date, the company’s accumulation successful 2026 has been 43,000 barrels of lipid equivalent per time (boepd), with existent rates of astir 50,000boepd.

For the twelvemonth 2025, the company’s accumulation averaged 27,600boepd, down from 34,600boepd successful 2024.

Serica Energy anticipates a important uplift successful mean yearly accumulation beyond 40,000boepd successful 2026, contingent connected the timely completion of acquisitions announced successful the second fractional of 2025.

If these acquisitions proceed arsenic scheduled, the AIM-listed upstream lipid and state institution forecasts that output could transcend 65,000boepd. Operational expenditure for the twelvemonth is projected astatine $380m (£283.09m)–400m.

Recent operational improvements are said to beryllium cardinal to Serica Energy’s strategy.

The Bruce Hub has been restored to astir 20,000boepd nett to the institution aft repairs aimed astatine enhancing reliability and extending plus life.

At the Triton Hub, infrastructure upgrades including pipeline enhancements and commissioning of a 2nd compressor are expected to stabilise and perchance summation production.

However, the Lancaster field, located westbound of Shetland, is expected to cease accumulation successful the 2nd 4th of 2026 arsenic the floating production, retention and offloading portion departs. Currently, this offshore oilfield produces astir 6,000boepd.

In 2025, Serica Energy faced a antagonistic escaped currency travel of $22m and reduced currency reserves of $31m owed to important superior expenditures.

Nonetheless, the institution expects a worldly betterment successful escaped currency travel for 2026 astatine existent commodity prices.

Serica Energy CEO Chris Cox said: “Serica enters 2026 arsenic a stronger, much resilient company, with progressively diversified accumulation and revenues that are acceptable to emergence materially from 2025 levels. Our precocious announced acquisitions, arsenic they implicit passim the year, volition much than treble the fig of producing fields successful our portfolio and materially adhd to currency generation, supporting our strategy of delivering worth to investors done some maturation and shareholder returns.

“The enlargement of our portfolio is delivering a greater fig of charismatic integrated maturation options, allowing america to cherry-pick those that connection the top instrumentality connected investment, increasing and sustaining worldly cash-generative accumulation for Serica into the adjacent decade.”