StockMarketWire.com - Serica Energy said it notched higher output form its interests in the Bruce, Keith, Rhum and Erskine assets in the North Sea during 2019.

Output from the assets was 30,000 barrels of oil equivalent per day, which was around 13% higher than the production from the same assets in 2018, on a like-for-like basis.

The production volumes were also towards the higher end of the company's guidance for the year.

Operating costs before non-cash depletion charges fell to about $13/boe, down from around $18/boe.

'We have established our position as a leading UK independent producer and we entered 2020 with no borrowings, low decommissioning liabilities and in a strong cash position,' chief executive Mitch Flegg said.


At 8:32am: [LON:SQZ] Serica Energy PLC share price was +4.2p at 126.8p



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