Serica Energy is preparing a North Sea drilling campaign with the potential to drill up to six wells across its UK portfolio as part of a programme targeting additional production.
The company expects to sign a rig contract in the coming weeks. The proposed drilling programme would run for about 400 days and include an extension option.
Drilling is expected to start in the third quarter of 2027 with the SCE and SCW wells at the Bruce field. These would be the first new wells drilled at Bruce since 2012.
The wells could be connected to existing subsea infrastructure, with first production possible around 12 months after drilling begins.
Following the initial Bruce work, the rig could be deployed to other locations in the portfolio. Kyla and Glendronach are among the potential candidates, while further Bruce wells and plug-and-abandonment work are also under consideration.
The company’s short-cycle project portfolio has the potential to add 30,000 boepd of production. Serica Energy said the programme could support annual average production of more than 50,000 boepd into the next decade, with average rates of return expected to exceed 40%.
Kyla is a redevelopment project in Block 29/2c, 20 km southeast of the Triton hub. The field contains 10.1 mmboe of 2P reserves and could be developed through a single horizontal well connected to Triton infrastructure. First production could begin within six months of the start of drilling.
Glendronach, within the Greater Laggan Area west of Shetland, is also being considered for the programme. Serica Energy completed the acquisition of a 40% operated interest in the area from TotalEnergies on 26 March 2026.
The drilling plans follow an increase in production to 44,700 boepd in the first half of 2026 from 24,700 boepd in the same period of 2025. Second-quarter output averaged 50,200 boepd, supported by improved performance at the Triton hub.
Serica Energy reported free cash flow of $184 million for the first half and held net cash of $26 million at 30 June 2026, compared with net debt of $200 million at the end of 2025. Its 2026 capital expenditure guidance remains unchanged at $175 million to $195 million.
