Serica Energy Boosts UK North Sea Footprint With BHP Acquisition

Serica Energy Plc said Nov. 5 it will grow its presence in the U.K. North Sea with an agreement to acquire further interests in the Bruce and Keith fields from BHP Billiton Ltd. (NYSE: BHP).

As part of the agreement, Serica Energy (UK) Ltd. will acquire a 16% interest in the Bruce Field and a 31.83% interest in the Keith Field plus associated infrastructure from BHP Billiton Petroleum Great Britain Ltd. for an undisclosed amount.

In total, Serica is expected to have 94.25% ownership in the Bruce Field and 91.67% in the Keith Field following completion of the company’s recent acquisitions, which also includes pending purchases in the region from BP Plc (NYSE: BP) and Total SA (NYSE: TOT).