Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSerica Share News (SQZ)

Share Price Information for Serica (SQZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 390.50
Bid: 388.50
Ask: 391.50
Change: 13.50 (3.58%)
Spread: 3.00 (0.77%)
Open: 387.00
High: 394.50
Low: 380.00
Prev. Close: 390.50
SQZ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Harbour, EnQuest and Serica shares slump on UK windfall tax

Fri, 27th May 2022 10:34

LONDON, May 27 (Reuters) - Shares in British North Sea oil and gas producers Harbour, EnQuest and Serica slumped on Friday, a day after the British government announced a windfall tax on domestic hydrocarbon companies.

Harbour, the basin's largest producer, fell 7.5% by 0905 GMT to lows last hit in mid-March, erasing a large chunk of gains made since oil prices rallied on the back of Russia's invasion of Ukraine.

That decline underperformed the 0.5% decline for a broader index of European oil and gas companies.

Analysts at Jefferies said they expect the new levy to add $107 million to Harbour's tax bill in 2022 and $268 million next year, including tax relief for its investment budget.

EnQuest, which ended Thursday's session 7% down, dropped a further 9% on Friday morning to lows last seen in late March. It is expected to pay an extra $14 million this year and $73 million next year, Jefferies said.

While all producers will have to pay more under the new tax regime, those with smaller oil and gas investment budgets as a percentage of profit will be harder hit by the levy.

"EnQuest is aware of the need for action to address the cost of living crisis, but is disappointed with the implementation mechanics of the new Energy Profits Levy," the company said in an emailed statement late on Thursday.

Serica, having suffered a 14% slump on Thursday, continued to slide and was down 5.6% in early trading on Friday. Serica's net outflows resulting from the new levy could reach as much $64 million this year and $99 million next year, Jefferies said.

More News
10 Aug 22 15:39

Kistos, Serica Energy abandon attempts to combine

(Sharecast News) - Kistos and Serica both walked away from their various attempts to combine late on Tuesday, after negotiations to reach a deal collapsed....

Read more
9 Aug 22 17:34

Serica and Kistos rule out takeover offers after rebuffed approaches

(Alliance News) - Serica Energy PLC and Kistos PLC on Tuesday said they do not intend to make offers for each other after both rejected approaches from the other....

Read more
25 Jul 22 17:13

Banks, commodities lift UK's FTSE 100

July 25 (Reuters) - Britain's FTSE 100 rose on Monday, supported by banks and commodity stocks in a choppy session, with data showing Britain's industrial output slowed but tentative signs of price...

Read more
25 Jul 22 10:29

Serica Energy rejects revised takeover proposal by Kistos

(Alliance News) - Serica Energy PLC and Kistos PLC on Monday both confirmed that Kistos had sent Serica a revised non-binding proposal regarding a potential takeover that was unanimously rejected by S...

Read more
25 Jul 22 08:49

Serica board rejects revised offer from Kistos

(Sharecast News) - Kistos announced a revised proposal for Serica Energy on Monday, after its first offer was rejected by the Serica board on 1 June....

Read more
20 Jul 22 12:33

IN BRIEF: Serica Energy boosted by "exceptionally strong" commodities

Serica Energy PLC - London-based oil & gas company - Says commodity prices have been "exceptionally strong" since the start of 2022 with a resulting positive impact on income. July gas price to date s...

Read more
20 Jul 22 09:53

Serica Energy upbeat on 2022 progress to date

(Sharecast News) - Upstream oil and gas company Serica Energy said in an update on Wednesday that production performance in 2022 was benefitting from its "significant investment" in the Rhum R3 well r...

Read more
15 Jul 22 15:51

UK dividends calendar - next 7 days

Monday 18 July no events scheduled Tuesday 19 July Dr Martens PLCdividend payment dateWednesday 20 July no events scheduled Thursday 21 July  Avast PLCex-dividend pa...

Read more
13 Jul 22 19:32

TRADING UPDATES: Eqtec seeks raise; Black Sea Property buys

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:...

Read more
12 Jul 22 12:19

LONDON MARKET MIDDAY: Stocks fall; euro drops to parity against dollar

(Alliance News) - Stock prices in London were lower at midday on Tuesday on fears that central bank moves to fight inflation will spark a recession, while the euro hit parity against the dollar for th...

Read more
12 Jul 22 11:29

AIM WINNERS & LOSERS: Serica, Kistos trade offers; tinyBuild upbeat

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday....

Read more
12 Jul 22 10:42

Kistos, Serica reject each other's takeover bids but see merger merits

(Alliance News) - Kistos PLC and Serica Energy PLC on Tuesday revealed they have traded takeover offers, with each rejecting the other as they mull combining to create a company that could rank within...

Read more
12 Jul 22 07:47

Serica Energy rebuffs £1bn approach from Kistos

(Sharecast News) - North Sea specialist Serica Energy has rejected a £1bn takeover approach from smaller rival Kistos, it was confirmed on Tuesday....

Read more
11 Jul 22 14:38

IN BRIEF: Serica Energy spuds North Eigg well in North Sea

Serica Energy PLC - London-based oil & gas company - Says the North Eigg exploration well in the Northern North Sea spudded on Monday. If successful, Serica says the reservoir will be gas filled and p...

Read more
11 Jul 22 14:03

Serica Energy announces spudding of North Eigg well

(Sharecast News) - North Sea-focussed upstream oil and gas company Serica Energy announced the spudding of the North Eigg exploration well on Monday....

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.