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Serica Energy
(LSE:SQZ)
Serica Energy (SQZ) vs. iShares MSCI United Kingdom ETF (EWC)
Serica Energy Business Overview & Revenue Model
Serica Energy Earnings Call Summary
Serica Energy Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 657.44M | 727.18M | 632.64M | 998.52M | 514.14M | 125.64M |
| Gross Profit | 290.19M | 223.20M | 306.57M | 730.40M | 386.82M | -2.92M |
| EBITDA | 389.90M | 380.03M | 538.44M | 684.98M | 172.68M | 51.55M |
| Net Income | -7.19M | 92.43M | 102.98M | 215.17M | 79.29M | 7.78M |
Balance Sheet | ||||||
| Total Assets | 1.26B | 1.46B | 1.58B | 862.38M | 686.67M | 447.46M |
| Cash, Cash Equivalents and Short-Term Investments | 362.20M | 118.58M | 263.12M | 414.43M | 80.08M | 89.33M |
| Total Debt | 173.14M | 224.32M | 213.03M | 213.00K | 0.00 | 516.00K |
| Total Liabilities | 602.79M | 668.29M | 582.80M | 453.66M | 414.14M | 247.62M |
| Stockholders Equity | 658.08M | 796.46M | 655.26M | 408.72M | 272.53M | 199.85M |
Cash Flow | ||||||
| Free Cash Flow | -3.20M | 21.39M | 23.67M | 569.11M | 105.44M | 17.43M |
| Operating Cash Flow | 150.53M | 281.56M | 98.01M | 688.45M | 157.60M | 44.07M |
| Investing Cash Flow | -141.73M | -253.91M | -108.77M | -229.19M | -134.35M | -47.94M |
| Financing Cash Flow | -167.16M | -213.28M | -154.37M | -56.08M | -9.25M | -7.99M |
Serica Energy Technical Analysis
Serica Energy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | £857.84M | -5.10 | -22.53% | 8.38% | 56.20% | -185.69% | |
63 Neutral | £375.85M | -1,070.00 | -0.09% | 8.81% | 38.03% | 94.56% | |
60 Neutral | £641.42M | -24.91 | -4.31% | 9.85% | -32.89% | -239.58% | |
58 Neutral | £189.02M | -2.17 | -26.37% | 4.52% | -18.05% | -634.88% | |
47 Neutral | £252.27M | -18.54 | ― | ― | -100.00% | -84.62% |
Serica Energy Corporate Events
Serica Energy reported a strong rebound in production in November, averaging over 50,000 boepd, which reflects the potential of its portfolio. The company anticipates further production increases with the acquisition of Prax Upstream and the resumption of regular liftings from Triton, supporting its growth strategy through portfolio investment and M&A. Despite missed opportunities in the recent UK Budget to stimulate North Sea investment, Serica has clarity on fiscal and regulatory regimes, allowing it to focus on maximizing shareholder value. The company expects to complete the acquisition of Prax Upstream by mid-December, adding Lancaster production to its portfolio, and is exploring multiple M&A opportunities in the UK North Sea while progressing organic growth options.
Serica Energy announced that NEO NEXT, a partner in the P111 and P2544 licences, has exercised its right of pre-emption, affecting Serica’s proposed acquisition of BP’s stake in these UK North Sea assets. Despite this setback, Serica remains committed to pursuing further M&A opportunities and organic growth to diversify its portfolio, increase production, and enhance shareholder value.
Serica Energy has agreed to acquire a 40% interest in the P2530 Licence in the UK North Sea from Finder Energy for approximately £500,000. This acquisition includes the Wagtail oil discovery and other exploration prospects, adding an estimated 8 million barrels of contingent resources to Serica’s portfolio. The move enhances Serica’s growth opportunities and positions it for potential integration with the Triton FPSO, subject to feasibility studies and regulatory approvals. The decision to proceed with further development will be made by August 2026, impacting Serica’s operational strategy and stakeholder interests.
Serica Energy has announced a delay in its planned move from the AIM to the Main Market of the London Stock Exchange, initially expected to be completed in the fourth quarter of 2025. The delay is attributed to recent mergers and acquisitions, which necessitate additional regulatory disclosures, including a Competent Person’s Report on acquired reserves and resources. The company now anticipates completing the move after publishing its audited FY 2025 accounts and consolidated year-end information, reflecting its commitment to advancing its market position despite the temporary setback.
Serica Energy announced the resumption of production at the Triton FPSO following a temporary suspension due to an issue with the flare system. Production has now ramped up to over 25,000 boepd net to Serica, aligning with the company’s operational expectations. This development is significant for Serica’s production capabilities and may positively impact its market positioning and stakeholder confidence.
Serica Energy has announced an agreement to acquire BP’s stake in the P111 and P2544 licences in the UK Central North Sea, which includes a significant interest in the Culzean gas condensate field. This acquisition, if completed, is expected to significantly enhance Serica’s production and cash flows, positioning it as a major player in the UK North Sea gas market. The transaction involves an upfront cash consideration of $232 million and potential contingent payments, with funding sourced from interim cashflows and existing financial resources. The acquisition is subject to a pre-emption period, allowing current partners the option to acquire BP’s stake on the same terms.
Serica Energy has announced a temporary suspension of production at the Triton FPSO due to an issue with the flare system, which is expected to result in production levels falling below the previously guided range of 29,000 to 32,000 boepd. The company is engaging with the operator to address the issue and improve performance, aiming to align production levels with the subsurface potential. This situation highlights operational challenges for Serica, impacting its production forecasts and potentially affecting stakeholder confidence.
Serica Energy has announced the acquisition of Prax Upstream Limited, which includes a 100% interest in the Lancaster field and various stakes in other North Sea assets. This acquisition, valued at $25.6 million, is expected to diversify Serica’s portfolio, increase reserves, and enhance cash flow. The deal positions Serica as a significant operator in the West of Shetland basin, with new opportunities for production and growth. The acquisition is anticipated to be completed by the end of 2025, with further financial benefits expected in 2026, including substantial free cash flow and low decommissioning liabilities.
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.