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Serica Energy PLC - London-based oil & gas company focused on the UK North Sea - Pretax profit amounts to £488.2 million for 2022, up significantly from £135.1 million in 2021. Operating profit stands at £476.2 million, up 93% from £246.1 million. Says it was boosted by increased production volumes and higher commodity prices. Average net production amounts to 26,200 barrels of oil equivalent per day compared to 22,200 boe per day for 2021, representing an increase of 18%. Average sales price is about $104 per boe, up from $77 per boe a year earlier. Declares a final dividend 14 pence per share, taking total dividend to 22p per share, up significantly from 9p a year prior. Looking ahead, Serica says 2023 production guidance range is kept at 40,000 to 47,000 boe per day on a full year proforma basis. Chief Executive Officer Mitch Flegg says: ‘2022 was another year of outstanding progress for Serica. There was strong growth in production volumes, a significant upgrade to reserves and increased profitability at all levels.’ Current stock price: 245.31 pence per share, up 1.8% on Thursday morning in London 12-month change: down 41% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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