UK-based oil and gas company Serica Energy has completed its acquisition of Prax Upstream (PUL) following regulatory approval from the North Sea Transition Authority (NSTA). In October this year, Serica Energy signed an agreement to purchase the 100% share capital of Prax Upstream from Prax Exploration & Production. The company paid £14.5m ($18.9m) for the purchase and has taken over PUL’s cash balance, which totals approximately$34m. From the total consideration, $12m is set aside to cover anticipate ...