The North Sea producers are seeking other potential M&A opportunities
Little love lost as Serica and Kistos walk away
Neither firm will pursue their offer for the other, but they may look elsewhere
North Sea producers Serica Energy and Kistos have both declined to make firm their proposed takeover bids of each other, with few signs that the negotiations have been particularly amicable. The firms will instead look at other potential M&A opportunities within their wider growth ambitions. “It has not been possible to reach agreement with Kistos on the terms or structure of a revised possible offer,” says Serica of its decision not to proceed with its July 483p/share cash and stock offer for Kistos that the latter rejected a week later. Kistos is also withdrawing its 425p/share bid for Serica, which it upped from an initial 382p/share, without either offer appealing to Serica’s managem
Also in this section
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
