Serica Energy (LSE:SQZ) has completed the first oil lifting from the Triton FPSO following the resumption of production. Operations are ramping up as planned, with multiple wells coming online, and Triton Hub production averaging 20,000 boepd net to Serica. The company maintains its full-year production guidance of 33,000–35,000 boepd, despite the scheduled maintenance period at the Bruce Hub.
Serica’s outlook benefits from a solid financial position and positive technical indicators, although valuation concerns and operational challenges temper the overall assessment. Strong financial management and strategic initiatives support a constructive outlook, yet political uncertainties and variable revenue growth remain potential risks.
About Serica Energy
Serica Energy is a UK-based independent oil and gas exploration and production company with assets on the UK Continental Shelf. The company accounts for approximately 5% of the UK’s natural gas production and is active in the country’s energy transition. Its operations are focused on two main hubs: the Bruce, Keith, and Rhum fields in the Northern North Sea, and a mix of operated and non-operated fields tied to the Triton FPSO.
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