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Serica poised to become major North Sea producer
Small cap oil and gas firm Serica Energy (SQZ:AIM) is set to announce its 2017 results on 10 April.
The focus is likely to be less on the numbers themselves and more on the performance of the collection of fields it is acquiring from BP (BP.).
Look for an update that the £300m transaction is on schedule to complete in the third quarter as planned.
Once it has gone through, Serica’s production is projected to increase seven-fold to 21,000 barrels of oil equivalent per day, 85% of which will be natural gas.