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Perspective
03 September 2026

Serica and Adura: A modest comeback for North Sea RBLs

In:
Oil & gas
Region:
Europe
Contributor
Serica Energy’s oversubscribed $750 million refinancing and Adura’s $3 billion RBL show that bank liquidity is returning to the UK’s North Sea. But it is returning on terms that favour the larger, diversified producers created by consolidation.

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