Serica Energy completed the acquisition of Tailwind Energy for £644m.

Serica Energy, a mid-tier independents producer of natural gas, completed the acquisition of Tailwind Energy, a privately owned, next generation oil and gas company, for £644m. "The transaction achieves our strategic objective of materially increasing the scale and diversity of our UKCS portfolio of assets. The Tailwind portfolio also brings multiple organic investment opportunities for further material near-term growth in reserves and production. Following this Transaction, Serica will retain its competitive strengths of a strong balance sheet, positive cash flow and low decommissioning cost obligations. Moreover, through the introduction of Mercuria as a new strategic investor, we will be differentially positioned to take advantage of the opportunities we expect to arise through industry consolidation, the North Sea Transition Deal and potentially overseas," Mitch Flegg, Serica CEO.