Serica is taking a prudent approach to M&A
Serica builds its war chest
The UK producer is benefitting from high prices and all the revenues from its BKR asset. But it continues to preach M&A caution
UK continental shelf (UKCS) independent Serica Energy’s increasingly healthy bank balance has attracted analyst attention. But, while the firm is upping its dividend, taking the first steps towards share buybacks and continuing to look at potential acquisitions, it remains keen to stress its prudent approach towards the M&A market. “Serica has reported FY21 results, with the significant news we think being the mid-April cash position of £363mn [$473mn], substantially higher than £218mn at end-December,” says Chris Wheaton, managing director at US bank Stifel. And he expects the firm’s balance sheet to improve further, foreseeing £492mn of net cash at the end of 2022 at price forecasts of
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
