Serica Energy Shares Rise on Deal to Buy BHP Billiton Assets in North Sea

Fecha : 05/11/2018 @ 02:47
Fuente : Noticias Dow Jones
Emisora : Bhp Group Fpo (BHP)
Cotización : 37.55  0.57 (1.54%) @ 23:59
Bhp Billiton Cotización de acciones Gráfica

Serica Energy Shares Rise on Deal to Buy BHP Billiton Assets in North Sea

Serica Energy (LSE:SQZ)
Gráfica de Acción Histórica

6 Meses : De Sep 2018 a Mar 2019

Haga Click aquí para más Gráficas Serica Energy.

By Oliver Griffin

 

Shares in Serica Energy PLC (SQZ.LN) rose on Monday after it said it has signed a sale and purchase agreement with BHP Billiton PLC (BLT.LN) to increase its interests in the North Sea.

The oil-and-gas company said it will acquire a 16% interest in the Bruce field and a 32% interest in the Keith field from BHP subsidiary BHP Billiton Petroleum Great Britain Ltd. for an initial cash consideration of 1 million pounds ($1.3 million), adjusted for working capital and 40% of post-tax cashflows from Jan. 1.

Serica Energy said that following the deal, it will hold interests of 94% and 92% in the Bruce and Keith fields, respectively, following its previously announced purchases from BP PLC (BP.LN) and Total SA (FP.FR).

Serica said proven and probable reserves--also known as 2P reserves--at the fields are expected to increase by around 4 million barrels of oil equivalent to approximately 62.7 million barrels when the transaction is completed.

The company said conditions of the license for the Rhum field, issued by the U.S. Department of the Treasury's Office of Foreign Asset Control to Serica and BP, have been met in full.

Serica acquired a 50% stake in the Rhum field last November as part of its deal with BP. However, the co-owner of the Rhum field is Iranian Oil Company (U.K.) Ltd, a subsidiary of the Iranian state oil company, which could have opened up the possibility of companies working on the field being hit by U.S. sanctions.

The company said all benefits accruing from and relating to Iranian Oil Company's interest in the Rhum field will be held in escrow as long as U.S. sanctions apply. These arrangements enable third-party service providers to continue to provide services unhindered and production from the Rhum field to continue uninterrupted, Serica said.

Shares at 0808 GMT were up 9.2% at 130 pence.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

November 05, 2018 03:32 ET (08:32 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Su Consulta Reciente
BMV
FIBRAPL14
Fibra Prol..
BMV
AMXL
América Mó..
BMV
ME
IPC México
BMV
ALSEA*
Alsea
FX
USDMXN
United Sta..
Las acciones que ha visto aparecerán en este recuadro, lo que le permite volver fácilmente a las cotizaciones que ha consultado previamente
Registrarse ahora para crear su lista personalizada de acciones en streaming.

Cotizaciones PLUS están en tiempo real. Cotizaciones NYSE y AMEX están con retraso de por lo menos 20 minutos.
El resto de las cotizaciones están con retraso de por lo menos 15 minutos al menos que se indique lo contrario.

Al acceder a los servicios disponibles de ADVFN usted acepta quedar sujerto a los Términos y Condiciones

P: V:mx D:20190319 16:51:34