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An update from Serica Energy ( (GB:SQZ) ) is now available.
Serica Energy announced a temporary reduction in production at the Triton FPSO due to maintenance and subsea intervention work. The production guidance for 2025 has been adjusted from 33,000-35,000 boepd to 29,000-32,000 boepd. The maintenance includes addressing a vibration issue in the compression trains, with normal operations expected to resume by the end of September. Additionally, subsea work on the Bittern field scheduled for November will temporarily halt production from the Evelyn and Gannet fields, reducing output by over 20,000 boepd. These developments are crucial for stakeholders as they impact Serica’s production targets and operational efficiency.
The most recent analyst rating on (GB:SQZ) stock is a Hold with a £184.00 price target. To see the full list of analyst forecasts on Serica Energy stock, see the GB:SQZ Stock Forecast page.
Spark’s Take on GB:SQZ Stock
According to Spark, TipRanks’ AI Analyst, GB:SQZ is a Neutral.
Serica Energy’s overall stock score reflects a stable financial base and positive technical indicators. The strong balance sheet and bullish momentum are significant strengths. However, challenges in profit margins, inconsistent revenue growth, and a negative P/E ratio weigh on the score. The earnings call provides a positive outlook, but operational and regulatory challenges remain.
To see Spark’s full report on GB:SQZ stock, click here.
More about Serica Energy
Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UK Continental Shelf (UKCS) assets. The company is responsible for about 5% of the natural gas produced in the UK, playing a significant role in the country’s energy transition. Serica’s operations are centered around the Bruce, Keith, and Rhum fields in the UK Northern North Sea, as well as various fields connected to the Triton FPSO. The company also has interests in the Columbus and Orlando fields in the UK North Sea and the Erskine field in the UK Central North Sea.
Average Trading Volume: 1,553,477
Technical Sentiment Signal: Strong Buy
Current Market Cap: £690.2M
See more data about SQZ stock on TipRanks’ Stock Analysis page.