Serica Energy plc said the merger offer from smaller rival Kistos plc would “negatively impact” the combined entity’s balance sheet and growth potential. OPPORTUNISTIC In a detailed statement issued today, the company listed reasons why it had rejected the Kistos offer. Serica said it would be “materially undervalued” and that the proposed merger would not […]
Tag: Serica Energy plc
Serica rejects £1bn merger offer from Kistos
Serica Energy plc said it had rejected a proposed £1bn merger comprising cash and shares of its North Sea oil and gas assets with smaller rival Kistos plc. OFFERS “The proposed terms are the same as the terms outlined in a possible non-binding offer made by Kistos on 24 May 2022 that was rejected by […]
Serica Energy spuds North Eigg gas exploration well
Serica Energy plc today began drilling the North Eigg exploration well 3/24c-NE1 in the North Sea. SPUDDING Transocean ‘sPaul B. Loyd Jr. harsh environment semi-submersible drilling rig spud the well at 4.30am. Operator Serica said that the high pressure, high temperature (HPHT) exploration well targeting Upper Jurassic turbidite sands, was similar to those encountered in […]
Serica Energy NED Richard Rose leaves for full-time executive role
Serica Energy plc said that non-executive director Richard Rose has stepped down with immediate effect. The company said that Mr Rose, who joined Serica in September 2021, had accepted a full-time executive position within the sector.
Serica Energy appoints Jérôme Schmitt as NED
Serica Energy plc has appointed Jérôme Schmitt to the board as a non-executive director with effect from 1 July 2022. Mr Schmitt worked for what is now TotalEnergies from 1992 to 2021 where his roles included group treasurer (2009-2011) and senior vice-president environment and sustainable development (2013-2016). More recently he was senior vice-president carbon neutral […]
Serica urges fiscal stability for oil & gas industry as it looks to tax savings
Serica Energy plc today urged policy makers to encourage fiscal stability for the oil and gas industry as the company looks to tax savings for its North Sea operations. TAX SAVING The company made the comments today in its financial and production report for May 2022, following the Government’s Energy Profits Levy announced last month. […]