Serica Energy sees production rise in first five months of year

27th Jun 2019 11:55

(Sharecast News) - Serica Energy updated shareholders and the market on its operations and finances on Thursday, as investors gathered for its annual general meeting.The AIM-traded firm said net year-to-date production to the end of May was 30,500 barrels of oil equivalent per day, compared to full-year production of 25,800 boe per day in 2018.It said its 2019 full-year production guidance stood at between 26,000 and 30,700 boe per day.Year-to-date realised sales prices for production to the end of May stood at around $35 per barrel of oil equivalent, down from $45 per boe for the 2018 full year.Operating costs to the end of May stood at approximately $15 per barrel of oil equivalent, down from $18 per boe for 2018.Cash, cash equivalents and term deposits stood at $112.3m as at 31 May, rising from $54.9m as at 31 December.