Ithaca Production In Line with Forecasts

UK North Sea-focused Ithaca Energy reported Thursday that its average production for the second quarter of 2014 was approximately 14,400 barrels of oil equivalent per day (boepd). The firm said that the performance was in line with its 2014 production guidance range of between 13,500 and 15,500 boepd.

The production included that from assets acquired from Sumitomo Corporation earlier in the summer and which was backdated to January 1 2014. Excluding these assets Ithaca's production was approximately 11,900 boepd – which was also in line with the firm's previous guidance.

Ithaca said that its 2014 production is forecast to be weighted towards the second half of the year, notably from the third quarter of 2014 after the completion of planned summer maintenance shutdowns. Among the firm's plans are: the start-up the Don Southwest TJ infill well, the drilling of which has recently been completed; the production optimization and resolution of operational issues in the Causeway Area; the recommencement of production from the Pierce field following completion of the ongoing modification works being performed on the field's FPSO vessel; and the completion of the planned well worover on the Athena field, for which the rig is scheduled to arrive on location in August.

The company added that it will release its 2Q 2014 financial results on August 12.



Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  What Should Go On Your Electrical Engi... (Jul 25)
 -  AECOM to Lead Permitting for Monkey Is... (Jul 25)
 -  LyondellBasell Plans Its Largest Inves... (Jul 21)
 -  Preparing a Mechanical Engineering Res... (Jul 19)
 -  Tesoro Signs Deal with Pemex to Enter ... (Jul 19)

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Services Manager - Production Chemicals
Expertise: Chemist|Production Engineering|Stimulation
Location: Midland, TX
United States Houston: R&D Cementing Engineer - Petrophysical Applications
Expertise: Chemical Engineering|Mechanical Engineering|Petroleum Engineering
Location: Houston, TX
United States Houston: Application Evaluation Specialist
Expertise: Drilling Engineering|Field Development
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours