Serica's share price drops after North Eigg disappointment
North Eigg scrambles Serica’s share price
One of the North Sea’s most anticipated exploration wells comes up short
UK independent Serica Energy’s share price dropped from just shy of 320p/share to under 280p/share by Wednesday’s close after it disclosed disappointing results from its North Eigg exploration probe close to its Rhum field in the Northern North Sea. While the well encountered hydrocarbons, commercial quantities have not yet been established, the firm said on Monday. At the well location, the objective sands were thinner than had been predicted but a total of 16ft of hydrocarbons-bearing sands were encountered, confirming the presence of hydrocarbons at a greater depth than at Rhum. Serica will now aim to determine if a future sidetrack location can be designed to better evaluate the volumes
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
