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Serica Energy
(LSE:SQZ)
Serica Energy (SQZ) vs. S&P 500 (SPY)
Serica Energy Business Overview & Revenue Model
Serica Energy Financial Statement Overview
| Breakdown | ||||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 632.64M | 998.52M | 514.14M | 125.64M | 250.53M | Gross Profit |
| 306.57M | 730.40M | 386.82M | -2.92M | 85.08M | EBIT |
| 321.16M | 585.30M | 246.08M | -18.70M | 77.65M | EBITDA |
| 432.17M | 695.66M | 172.68M | 51.55M | 162.84M | Net Income Common Stockholders |
| 102.98M | 218.52M | 79.29M | 7.78M | 64.02M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 245.19M | 509.36M | 80.08M | 77.23M | 79.32M | Total Assets |
| 1.24B | 1.06B | 686.67M | 447.46M | 372.60M | Total Debt |
| 213.03M | ― | 0.00 | 516.00K | 0.00 | Net Debt |
| -32.16M | -509.36M | -80.08M | -77.23M | -79.32M | Total Liabilities |
| 582.80M | 557.58M | 414.14M | 247.62M | 218.36M | Stockholders Equity |
| 655.26M | 502.35M | 272.53M | 199.85M | 154.24M |
| Cash Flow | Free Cash Flow | |||
| 19.75M | 569.11M | 105.44M | 17.43M | 102.64M | Operating Cash Flow |
| 98.01M | 688.45M | 157.60M | 44.07M | 106.76M | Investing Cash Flow |
| -108.77M | -229.19M | -134.35M | -47.94M | -47.50M | Financing Cash Flow |
| -154.37M | -56.08M | -9.25M | -7.99M | -12.25M |
Serica Energy Technical Analysis
Serica Energy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £241.12M | 3.40 | 18.48% | ― | -21.23% | ― | |
64 Neutral | £499.14M | 6.83 | 11.29% | 18.17% | -9.79% | -46.17% | |
61 Neutral | £193.13M | 4.21 | ― | -11.70% | ― | ||
61 Neutral | £2.71B | 21.62 | -2.87% | 13.18% | 29.33% | ― | |
56 Neutral | $6.99B | 3.72 | -4.39% | 5.96% | -0.24% | -48.44% |
Serica Energy Corporate Events
Serica Energy has published its 2024 Annual Report and Environmental, Social, and Governance (ESG) Report following the release of its financial results for the year ended 31 December 2024. The company also announced the Notice of its 2025 Annual General Meeting, scheduled for 22 May 2025. These publications are part of Serica’s ongoing commitment to transparency and stakeholder engagement, reflecting its strategic focus on sustainable operations and growth in the UK energy sector.
Serica Energy has announced an extension of the PUSU Deadline for its ongoing discussions with EnQuest regarding a potential reverse takeover. This extension allows EnQuest until May 2, 2025, to declare its intentions, impacting Serica’s strategic positioning and potentially affecting stakeholders depending on the outcome of these negotiations.
Serica Energy plc has transferred 1,500,000 Ordinary Shares from its treasury to the Company’s Employee Benefit Trust to satisfy LTIP and SIP Awards. Following this transaction, the company holds 541,985 Ordinary Shares in treasury, with a total of 393,568,408 shares in issue, impacting the total voting rights available to shareholders.
Serica Energy announced its audited financial results for 2024, highlighting challenges and strategic adjustments. Despite positive drilling results at the Triton field, production and cash flow have been impacted by issues at the Triton FPSO. The company is addressing these by advancing maintenance work, which should enhance uptime and production reliability. Serica’s subsurface analysis has led to a decrease in 2P reserves but a significant increase in 2C resources, indicating strong potential for future resource conversion. The company is rebalancing its capital allocation to focus on high-value projects and maintain competitive shareholder returns. Financially, Serica remains profitable and cash-generative, despite a decrease in profit before tax due to lower volumes and prices. The company maintains a robust balance sheet, with significant tax loss shelters supporting ongoing investment and growth strategies.
Serica Energy PLC has announced its total voting rights as of March 31, 2025, in compliance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. The company reports a total of 391,526,423 voting rights, with 2,041,985 ordinary shares held in treasury. This information is crucial for shareholders to determine their interest or changes in interest in the company.
Serica Energy PLC announced that Jérôme Schmitt, an Independent Non-Executive Director, transferred 9,100 ordinary shares into a nominee account without any change in beneficial ownership. This transaction, conducted on the AIM market of the London Stock Exchange, reflects internal share management practices and does not impact the company’s operational or market positioning.
Serica Energy has announced a delay in the resumption of production from the Triton FPSO, now expected to restart in May instead of March, due to ongoing maintenance issues and the aftermath of Storm Éowyn. The company is working with Dana Petroleum to improve the operating performance of the FPSO, as the current situation is unsatisfactory for both Serica and its shareholders. This delay impacts Serica’s ability to convert successful drilling results into sustained production and cash flow, highlighting the need for a more predictable production performance.
Serica Energy plc has transferred 500,000 Ordinary Shares from its treasury to the Company’s Employee Benefit Trust to satisfy LTIP and SIP Awards. Following this transaction, Serica holds 2,041,985 Ordinary Shares in treasury with a total of 393,568,408 shares in issue, resulting in 391,526,423 total voting rights. This adjustment in voting rights is significant for shareholders and stakeholders who monitor their interests under the Financial Conduct Authority’s rules.
Serica Energy plc has transferred 500,000 Ordinary Shares from its Treasury to the Company’s Employee Benefit Trust to satisfy LTIP Awards. As of 28 February 2025, the company reports a total of 391,026,423 voting rights, which shareholders can use to determine their notification obligations under the Financial Conduct Authority’s rules.
Serica Energy has announced the renewal of its OFAC License and secondary sanctions assurance for the Rhum field, extending the license for two years until February 2027. This renewal allows U.S. and non-U.S. entities to continue providing goods, services, and support to the Rhum field, ensuring continued operations and stability for Serica’s production activities in the region.
Serica Energy announced a temporary suspension of production from the Triton FPSO due to damage caused by Storm Éowyn. The storm triggered a shutdown of the fire and gas detection system, and repairs are underway to address minor damage to a cargo tank and an issue with the inert gas line. Production is expected to resume in mid-to-late March. The company is reviewing its 2025 production guidance and maintenance schedules as a result. A third-party engineering study suggests that, with continued maintenance, the Triton FPSO could operate into the next decade, which could have long-term benefits for Serica’s production capabilities.
Serica Energy announced a two-month extension of the OFAC License and secondary sanctions assurance for the Rhum field, allowing continuation of certain operations by U.S. and non-U.S. entities. This extension is crucial for completing the application process for a new long-term license following the transition in U.S. Administrations, thereby ensuring uninterrupted operations and supporting Serica’s strategic growth and stability in the North Sea oil and gas sector.