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Serica Energy plc confirmed on 2 October 2024 that its Bittern B6 well (64.6% interest), which commenced flowback on 11 September, is now producing stably at approximately 8,000 boepd gross, or 5,200 boepd net to Serica. Drilling and completion activities on the Gannet GE-05 well (100% interest) have concluded, with production expected around early November, and the COSL Innovator rig is moving to drill on the Guillemot NW field (10% interest), while Serica's total portfolio production is currently over 50,000 boepd.
| Date | 2 Oct 2024 |
| Time | 07:00:03 |
| Category | Corporate updates |
| ID | 5379G |
2 October 2024
Serica Energy plc
("Serica" or "the Company")
Update on Bittern B6 well production
Serica Energy plc (AIM: SQZ) today confirms that the B6 well on the Bittern field (SQZ: 64.6%), which commenced initial flowback to the Triton FPSO on 11 September, is now producing at a stable rate.
The well is producing oil and gas at a combined gross rate of around 8,000 boepd, a total of around 5,200 boepd net to Serica.
Drilling and completion activities on the Gannet GE-05 well (SQZ: 100%) have now concluded. Data collected during drilling have shown encouraging results, and production is expected to commence around the start of November. The COSL Innovator rig is now moving to drill the next well in the campaign, on the Guillemot NW field (SQZ: 10%).
Total Serica portfolio production is currently over 50,000 boepd, a level that if retained would result in the Company finishing 2024 in line with the updated guidance given at our half-year results on 10 September.
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Enquiries:
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Serica Energy plc |
+44 (0)20 7487 7300 |
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Martin Copeland (CFO) / Andrew Benbow (Group Investor Relations Manager) |
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Peel Hunt (Nomad & Joint Broker) |
+44 (0)20 7418 8900 |
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Richard Crichton / David McKeown / Emily Bhasin |
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Jefferies (Joint Broker) |
+44 (0)20 7029 8000 |
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Sam Barnett / Will Soutar |
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Vigo Consulting (PR Advisor) |
+44 (0)20 7390 0230 |
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Patrick d'Ancona / Finlay Thomson |
NOTES TO EDITORS
Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets. Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.
Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.
Serica has a two-pronged strategy for growth comprising investment in its existing portfolio and M&A. Further information on the Company can be found at www.serica-energy.com. The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ and the Company is a designated foreign issuer on the TSX. To receive Company news releases via email, please subscribe via the Company website.