**Summary**
Serica Energy plc, a UK-based oil and gas company, reported its 2025 full-year results, highlighting strategic progress, portfolio strengthening, and increased production. The companys production reached over 65,000 boepd by the end of 2026, driven by successful acquisitions and organic growth. Despite challenges like unscheduled downtime at the Triton FPSO, Sericas production averaged 27,600 boepd in 2025, with a year-to-date average of 38,600 boepd. The companys acquisitions, including a 40% stake in the Greater Laggan Area from TotalEnergies, significantly enhanced its reserves and resources, with 2P reserves increasing by 19% to 138.5 mmboe. Sericas focus on short-cycle, low-risk opportunities and its strong balance sheet position it well for future growth and shareholder returns. The company also emphasized its commitment to energy security and domestic gas supply, particularly through its West of Shetland operations. Despite a loss after taxation of $52 million due to a non-cash deferred tax charge, Serica maintained its dividend and expects material free cash flow generation in 2026. The companys strategy includes further M&A activities and a potential move to the Main Market of the LSE.