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Serica Energy ( (GB:SQZ) ) has shared an announcement.
Serica Energy has announced a slower-than-expected ramp-up to steady-state production at the Triton FPSO, following its restart in July. The delay is attributed to issues with the gas lift system and additional minor repairs, but production is expected to stabilize in August. The company anticipates production from the Bittern, Evelyn, and Gannet fields, with new wells in the Guillemot North West and Evelyn fields expected to increase output. Despite the delay, Serica maintains robust production from other assets and expects to achieve a potential output of over 55,000 boepd once all Triton fields are operational. The company’s 2025 production guidance has been slightly adjusted to 33,000-35,000 boepd.
The most recent analyst rating on (GB:SQZ) stock is a Buy with a £185.00 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 Outperform.
Serica Energy presents a solid investment opportunity due to a strong balance sheet, attractive valuation metrics, and positive corporate developments. However, challenges in revenue consistency and profit margins slightly temper the outlook. The technical analysis suggests a stable price trend, supporting a favorable investment stance.
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, contributing significantly to the UK’s energy transition. Serica’s operations are centered around two main hubs: the Bruce, Keith, and Rhum fields in the UK Northern North Sea, and various fields tied back to the Triton FPSO. The company also has interests in the Columbus and Orlando fields in the UK Central and Northern North Sea, respectively, and a non-operated interest in the Erskine field.
Average Trading Volume: 1,621,666
Technical Sentiment Signal: Strong Buy
Current Market Cap: £676.8M
For detailed information about SQZ stock, go to TipRanks’ Stock Analysis page.