Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Equity Bottom-Up

<ul>
<li>As expected, the rate of the Energy Profits Levy (EPL) will increase from 35% to 38% and the 29% investment allowance introduced with the EPL will be removed.</li>
<li>The changes will be effective from 01 November 2024 and run until 31 March 2030.</li>
<li>The government has also signalled that capital allowances (including first year allowances) in relation to the EPL will be reduced, but has said that the extent of this will be established after consultation with stakeholders and published in the 30 October fiscal event.</li>
</ul>


As expected, the rate of the Energy Profits Levy (EPL) will increase from 35% to 38% and the 29% investment allowance introduced with the EPL will be removed.
The changes will be effective from 01 November 2024 and run until 31 March 2030.
The government has also signalled that capital allowances (including first year allowances) in relation to the EPL will be reduced, but has said that the extent of this will be established after consultation with stakeholders and published in the 30 October fiscal event.


Serica Energy Plc (AIM: SQZ): Reflections on the UK Fiscal Regime Changes

<ul>
<li>2023 production to date was 43,781 boe/d. very close to our expectations of 44.3 mboe/d. </li>
<li>Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign.</li>
<li>This partially offsets the low production in May at the Triton Hub following a trip of a compressor that shut down production for three weeks (the production at Triton has been restored since then).</li>
</ul>


2023 production to date was 43,781 boe/d. very close to our expectations of 44.3 mboe/d. 
Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign.
This partially offsets the low production in May at the Triton Hub following a trip of a compressor that shut down production for three weeks (the production at Triton has been restored since then).


Serica Energy Plc (AIM: SQZ): Operations on Track. High Net Cash.

<ul>
<li>Serica Energy is a ~US800 mm market cap company with &gt;40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea.</li>
<li>The investment case is about value and generous shareholder distributions.</li>
<li>The strategy is to maximize the value of two key producing hubs, depending on the UK’s tax policy, to develop a third one at Buchan Horst and to grow via M&amp;A.</li>
</ul>


Serica Energy is a ~US800 mm market cap company with &gt;40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea.
The investment case is about value and generous shareholder distributions.
The strategy is to maximize the value of two key producing hubs, depending on the UK’s tax policy, to develop a third one at Buchan Horst and to grow via M&amp;A.


Serica Energy Plc (AIM: SQZ): Initiating Coverage

United Kingdom

Serica Energy is a UK-based independent upstream oil and gas company with operations focused on the UK North Sea. It specializes in identifying, acquiring, exploiting, and producing oil and gas reserves, managing a portfolio of energy fields to extract hydrocarbons. The company operates assets such as the Bruce, Keith, and Rhum fields in the UK Northern North Sea, as well as the Columbus Field, Triton FPSO, and Mansell field in the Central North Sea. Headquartered in London, United Kingdom, the company was founded in 2004.

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Serica Energy (SQZ LN)

Serica Energy Plc (AIM: SQZ): Reflections on the UK Fiscal Regime Changes

As expected, the rate of the Energy Profits Levy (EPL) will increase from 35% to 38% and the 29% investment allowance introduced with the EPL will...

Auctus Advisors

Serica Energy Plc (AIM: SQZ): Operations on Track. High Net Cash.

Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign.

Auctus Advisors

Serica Energy Plc (AIM: SQZ): Initiating Coverage

Serica Energy is a ~US800 mm market cap company with >40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea.

Auctus Advisors

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