Serica Energy reported 2025 production of 27,600 barrels of oil equivalent per day, meeting guidance but falling from 34,600 boepd in 2024. The UK North Sea producer's current output has surged to around 50,000 boepd as multiple acquisitions come online, positioning the company for a portfolio that could double in size.

Full-year 2026 production is forecast to exceed 40,000 boepd, with potential to surpass 65,000 boepd. CEO Chris Cox stated the expansion delivers more organic growth options, allowing Serica to select projects with the best returns. The strategy follows a challenging 2025, where revenue fell to $601 million from $727 million due to lower output and oil prices.

The company plans capital expenditure of $125-145 million for 2026, focusing on the Bruce platform. It expects material free cash flow at current commodity prices, supporting both growth and shareholder returns. Serica maintained its dividend at $84 million for 2025, equivalent to 16p per share, while net debt stood at $200 million.