Serica remains circumspect on UKCS M&A

The North Sea independent is still determined not to overpay for assets

UK producer Serica Energy “continue[s] to actively pursue M&A opportunities that can broaden our asset base and add further value for our stakeholders”, the firm’s CEO, Mitch Flegg, said on Thursday. But it remains determined not to do deals at any price. “While we see significant benefits and potential in our existing portfolio, we continue to look at new opportunities to expand our operations to diversify risk, provide new growth prospects and achieve economies of scale,” Flegg adds. The firm continues to “seek, via a rigorous screening process, new acquisition opportunities to add further value by building on operating efficiencies, reducing cost, exploiting synergies, improving envir