Serica Energy output from Erskine field falls short of guidance
Source - SMW
Serica Energy said annual production from the Erskine field fell short of guidance due to technical problems.
Output in 2017 was 1,975 barrels of oil equivalent per day, below the 2,200 boe/d lower end of production guidance for the year.
The miss was due largely to ongoing waxing problems with the Lomond-to-Everest condensate line and the unanticipated shutdown of the Forties pipeline system in December, which affected a large number of North Sea fields.
A tender process was currently underway for a drilling rig to commence the Rowallan exploration well in the second half of 2018, the company added.
At 9:26am: (LON:SQZ) Serica Energy PLC share price was +3p at 88p