Serica Closes North Sea Asset Acquisition from ONE-Dyas

(Credit: Serica Energy)

Serica Energy has completed the acquisition of a 10% interest in the Catcher field and a 5.21% interest in the Golden Eagle Area Development (GEAD) from ONE-Dyas.

The acquisition, first announced in September 2025, further diversifies Serica's producing portfolio and adds current net production of around 2,500 barrels of oil equivalent per day (boepd).

The acquired interests add combined net 2P reserves of 3.0 million barrels of oil equivalent and 2C resources of 0.5 million barrels of oil equivalent as of Dec. 31, 2025.

Serica said it has settled the acquisition consideration of $6.75 million and received a payment of $13 million, reflecting interim post-tax cash flows generated between the economic date of January 1, 2024, and the completion date.

In addition, the company said it will receive around 85,000 barrels of oil equivalent related to an underlift position, with associated cash proceeds of about $8 million expected in the third quarter.

The assets are located in the UK North Sea and form part of Serica's strategy to expand and diversify its producing portfolio.