Serica Energy moves to buy oilfield operator in UK’s North Sea basin

Britain's Serica Energy said on Tuesday it will buy Prax Upstream, the sole operator of Lancaster oilfield located in the UK's North Sea, for $25.6 million.

The deal also includes the acquisition of 40 per cent operated interest in the Greater Laggan Area, a 10 per cent interest in Catcher Field and a 5.21 per cent interest in the Golden Eagle Area, all based in the North Sea.