- Jefferies maintains a “Hold” rating for BP (NYSE:BP) and increases the price target to 420 GBp.
- BP plans to sell its North Sea assets to Serica Energy for $232 million, expected to boost Serica’s production and cash flow.
- The sale includes a 32% interest in the Culzean gas condensate field, enhancing Serica’s exploration potential and aligning with its growth objectives.
BP (NYSE:BP) is a global energy company involved in oil and gas exploration, production, refining, and distribution. It competes with major players like ExxonMobil and Shell. On October 16, 2025, Jefferies maintained its “Hold” rating for BP, with the stock priced at $33.25. Jefferies also increased BP’s price target to 420 GBp from 400 GBp, as highlighted by TheFly.
BP is planning to sell its North Sea assets, including stakes in the P111 and P2544 licenses, to Serica Energy for $232 million. This deal involves BP’s 32% non-operated interest in the Culzean gas condensate field, the largest gas project in the UK North Sea. Serica Energy expects this acquisition to boost its production, cash flow, and exploration potential.
The transaction with Serica Energy is significant for both companies. Chris Cox, Serica’s CEO, emphasized that acquiring BP’s interest in the Culzean field would be transformative, adding substantial production and cash flows. The Culzean field is known for its modern platform, high uptime, and low emissions, making it a valuable asset for Serica.
Serica plans to finance the acquisition using cash flow from Culzean and its existing financial resources, including a $525 million reserve-based lending facility. The company is also considering a new acquisition facility to support its expanded portfolio. This strategic move aligns with Serica’s growth objectives in the energy sector.
BP’s stock is currently priced at $33.12, reflecting a 0.67% decrease with a $0.23 drop. The stock’s daily range is between $33.04 and $33.55, with a 52-week high of $35.88 and a low of $25.22. BP’s market capitalization is approximately $86.69 billion, with a trading volume of 1,994,884 shares.
