Serica Energy Closes Acquisition of North Sea Asset from Spirit Energy

03:12 AM EDT, 10/01/2026 (MT Newswires) -- Serica Energy (SQZ.L) completed its purchase of a portfolio of Southern North Sea assets from Spirit Energy, adding 10,000 barrels of oil equivalent per day to its production. The British oil and gas company made a net payment of 33 million pounds sterling, reflecting the 57 million-pound upfront consideration less post-tax cash flows generated between the economic effective date of Jan. 1, 2025, and completion on Thursday, according to a same-day filing. Serica expects the acquired assets to generate more than $200 million in free cash flow through the end of 2028. The portfolio includes a 15% non-operated working interest in the Cygnus field and a 25% interest in the Clipper South gas field.