UK-based Serica Energy has signed a farm-in agreement with Finder Energy for a 40% stake in the P2530 licence in the UK North Sea. Serica will pay approximately £500,000 for the deal. The licence includes the Wagtail oil discovery, with an estimated 8 million barrels of net 2C contingent resources. The North Sea Transition Authority has extended the licence phase until 2026. The JV partners plan to assess integrating Wagtail into existing infrastructure economically. The farm-in agreement is subject to regulatory approval. Serica Energy is known for its assets in the UK Continental Shelf, including the Bruce, Keith, and Rhum fields.

Read more at Yahoo Finance: Serica Energy to buy 40% interest in North Sea licence