Serica Energy to buy 40% interest in North Sea licence

UK-based Serica Energy has signed a farm-in agreement with Australia-based oil and gas explorer Finder Energy for the latter’s 40% operated interest in the P2530 licence in the UK North Sea. Under the terms of the deal, Serica will make an initial payment of approximately £500,000 (around $650,000). Currently, Finder Energy holds a 60% operated stake in the licence, while Serica Energy’s partner Dana Petroleum holds the remaining 40%. The P2530 licence area includes the Wagtail oil discovery, along with ...