•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Serica Energy PLC (AIM:SQZ) shares rose on Friday, climbing 4.2% to 282.8p, after the North Sea producer said it is preparing fixed income investor meetings for a possible five-year senior unsecured bond. The company is looking to refinance drawn bank debt while preserving balance-sheet flexibility.
Serica said any bond issue would be subject to market conditions and suitable terms. If launched, net proceeds would be used to repay in full the outstanding drawn debt under its Reserve Based Lending (RBL) facility. The RBL would remain in place to support potential portfolio investment and M&A.
The company added that the move would not affect its net indebtedness.
As of 23 April, Serica reported cash of US$153 million and net debt of US$78 million, down from US$200 million at the end of December 2025. The reduction was supported by a US$56 million payment from TotalEnergies following completion of Serica’s acquisition of a 40% stake in the Greater Laggan Area on 26 March.
Serica also reported that current trading has strengthened. Production averaged 39,100 barrels of oil equivalent per day in the first quarter, increasing to 49,100 boepd so far in the second quarter. The company attributed the improvement to better Triton performance and the addition of Greater Laggan output.
Guidance for 2026 remains unchanged, with production expected to be significantly above 40,000 boepd.
Chief executive Chris Cox said Serica is seeking to “optimise our capital structure” after scaling up its portfolio, adding that diversified funding would enhance capital allocation optionality.
Serica will hold a Capital Markets Day on 2 June, where it plans to outline organic growth projects, including short-cycle infill drilling and tieback opportunities.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
