Ithaca Energy Company News
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Commissioning Support Contract Goes to Ampelmann
Thursday, July 30, 2020This photo shows Ampelmann's offshore transfer system on the Olympic Taurus W2W vessel. PHOTO SOURCE: Ampelmann
Buyer for Chevron's UK Fields Seeks Funds From Traders
Thursday, October 17, 2019A unit of Delek Group is seeking alternative means of financing to complete its $2B acquisition of some of Chevron’s North Sea oil and gas assets.
Ithaca Energy Starts Production from North Sea Stella Field
Friday, February 17, 2017North Sea oil and gas operator Ithaca Energy Inc. announces the successful start-up of production from the Stella field.
Delek Group to Issue Ithaca Energy Takeover Bid for $524MM
Monday, February 06, 2017Israel's integrated energy company, Delek Group, will issue a cash takeover bid for 80% of Ithaca Energy Inc's share capital for a total consideration of $524 million.
Ithaca Energy: Stella Production Start-up Delayed
Thursday, January 12, 2017Ithaca Energy Inc. reveals that the start-up of the Stella field, located in the central North Sea, has been pushed back to February.
Ithaca Energy Expects Stella Production to Commence January
Friday, November 25, 2016Ithaca Energy Inc. expects the production start-up of the Stella field, located in the central North Sea, to commence in January 2017 after a program of necessary repairs was identified.
Ithaca Energy Inc Set to Double Production with Stella Output
Monday, August 15, 2016North Sea energy company Ithaca Energy Inc is set to more than double its production with the start-up of the Stella field, located in the Central Graben area of the UK continental Shelf.
Ithaca Energy Expands GSA Interest with New Acquisitions
Tuesday, August 02, 2016Ithaca Energy Inc. is expanding its interests in the Greater Stella Area, located within the UK Continental Shelf, with the acquisition of new assets in the region for a total cost of under $6 million.
Ithaca Says Stella Production Facility Undergoing Sea Trials
Friday, July 22, 2016The FPF-1 floating production facility, which is destined for the Stella field in the central North Sea, has left the Gdansk shipyard and is now undertaking final marine system trials.
Ithaca Increases Production, Expects Prompt Output Ramp-up From Stella
Monday, July 11, 2016Ithaca Energy's average production during the second quarter of this year was significantly higher than the company’s 2016 production guidance of 9,000 boepd.
Ithaca Energy Turns Loss to Profit in 1Q, Maintains Capex
Monday, May 16, 2016Ithaca Energy turned loss to profit in the first quarter of 2016, maintaining its capital expenditure of $50 million for the year in the process.
BW Athena FPSO to Demobilize from UKCS in February
Friday, January 22, 2016BW Offshore comes to an agreement with Ithaca Energy to demobilize the FPSO BW Athena in February 2016.
Ithaca Sees Production Doubling in 2016 on Stella Start-Up
Tuesday, January 12, 2016Ithaca Energy sees its production more than doubling to 25,000 barrels per day by the end of 2016 thanks to the start-up of the Greater Stella Area development during the third quarter.
North Sea: Indies, Juniors Driving Exploration, Development in 2016
Tuesday, January 12, 2016Rigzone takes a look at the 2016 exploration and field development plans of junior and independent oil and gas firms focused on the North Sea region.
Ithaca Appoints New Chief Commercial Officer
Tuesday, January 05, 2016Ithaca promotes Dr Richard Smith to the role of chief commercial officer.
Israel's Delek Buys $66M Stake in North Sea Oil Producer Ithaca
Friday, October 09, 2015Israeli gas firm Delek Group acquires a near 20-percent stake in North Sea-focused oil producer Ithaca Energy for $66 million.
Premier Oil Comes Up Dry in North Sea Well
Thursday, September 03, 2015Premier Oil Norge, the operator of production license 539, has come up dry in exploration well 3/7-10 S in the southern section of the North Sea.
Ithaca Confirms 12,000-Barrel per Day Target for 2015
Thursday, July 16, 2015An operations update from Ithaca Energy shows that the North Sea-focused producer is on target to deliver an average of 12,000 barrels of oil equivalent per day during 2015.
MOL Group Acquires Ithaca Petroleum Norge
Thursday, July 09, 2015MOL Group successfully completes a deal to acquire 100% ownership of Ithaca Petroleum Norge from Ithaca Petroleum Ltd, for a price that could reach up to $90 million.
Ithaca Energy Shares Slide after Disclosing North Sea Dispute
Thursday, May 28, 2015UK North Sea-focused Ithaca Energy says it has received a legal claim regarding its Greater Stella Area oilfield in the North Sea.
Ithaca Issues Positive 1Q Results Update
Thursday, May 14, 2015UK North Sea-focused Ithaca enjoys a positive first quarter, generating strong cash flow ahead of the start-up of its Stella field next year.
Ithaca Simplifies Debt Facilities Ahead of Stella Start-Up
Wednesday, April 29, 2015Ithaca Energy extends and simplifies its bank debt financing facilities ahead of the start of production from its Greater Stella Area assets scheduled for next year.
Ithaca Agrees to Sell Norwegian Business to Hungary's MOL
Friday, April 24, 2015North Sea-focused Ithaca Energy agrees to sell its Norwegian business to Hungary's MOL for $60 million.
Ithaca Finishes Stella Field Development Drilling
Monday, April 13, 2015Ithaca Energy completes flow test operations on the final development well on its Stella field, with the well achieving a flow rate of more than 8,000 barrels per day.
Ithaca Cuts Capex Budget by 60% for 2015
Monday, January 12, 2015North Sea producer Ithaca Energy cuts its capital spending budget for 2015 by 60% to $150 million.
Ithaca Appoints New COO
Tuesday, December 23, 2014Ithaca Energy appoints Roy Buchan as its new chief operations officer.
North Sea Independents Report Solid Progress
Thursday, November 13, 2014North Sea producers Premier Oil and Ithaca Energy both issue 'solid' updates for their respective third quarters.
Ithaca Completes 4th Development Well on Stella Field
Tuesday, September 16, 2014Ithaca Energy drills the fourth development well on its Stella field in the North Sea, achieving a flow rate of 12,005 barrels per day.
Tullow North Sea Well Comes Up Dry
Monday, July 21, 2014Tullow's Lupus-1 wildcat well in the Norwegian North Sea fails to find hydrocarbons.
Ithaca Production In Line with Forecasts
Thursday, July 10, 2014Ithaca Energy reports average production for the second quarter of 2014 of 14,400 barrels per day, in line with forecasts.
Ithaca De-Risks Stella Production with Flow Test on 3rd Well
Friday, June 27, 2014Ithaca Energy reports that its third development well on the Stella field in the North Sea has flowed at 12,492 barrels of oil equivalent per day, serving to de-risk the initial production forecast for the field.
Ithaca Buys Interests in 3 UK Fields
Monday, June 23, 2014Ithaca Energy pays Sumitomo Corporation $170 million for two North Sea fields and one onshore UK field.
BW Signs Extension to Athena FPSO Contract
Friday, June 06, 2014Ithaca Energy signs an extension to its agreement with BW Offshore that will see it use the BW Athena FPSO for up to five more years.
Ithaca Expects Steady Production in 2014
Wednesday, January 15, 2014North Sea-focused Ithaca Energy expects steady production from its operations during 2014 ahead of the Greater Stella Area hub producing its first hydrocarbons.
Det Norske Spuds Barents Sea Well
Tuesday, January 14, 2014Det norske oljeselskap drills exploration well targeting the Langlitlinden prospect in the Barents Sea.
Ithaca to Issue 'Stream' of News Ahead of Greater Stella Start-up
Monday, November 11, 2013Ithaca Energy is expected to issue a 'stream' of news ahead of the production start-up of its Greater Stella Area development in mid-2014.
Ithaca Hits 'Major Milestone' with FPF for Greater Stella Project
Tuesday, October 15, 2013Ithaca Energy reports a 'major milestone' with the construction of its floating production facility for its Greater Stella Area development.
Ithaca 'Graduates' into a Leading Independent with Debt Deal.
Thursday, October 10, 2013Ithaca Energy says it underlined its graduation into a leading independent North Sea oil firm with a new debt funding deal.
New CEO for Ithaca Energy
Friday, September 27, 2013Ithaca Energy reports that CEO Iain McKendrick is leaving the firm for personal reasons.
Ithaca Makes Further North Sea Farm-out Deals
Monday, September 23, 2013Ithaca Energy farms out its interests in Handcross and Isabella prospects, as well as three blocks West of Shetland.
Ithaca Production on Target for 2013
Tuesday, August 13, 2013Ithaca says it expects to achieve pro-forma production of 14,000 boepd for 2013 after receiving a boost during the first half from its acquisition of Valiant Petroleum.
Norvarg Reveals Hydrocarbons
Monday, June 24, 2013Ithaca Energy has successfully appraised the Norvarg well and will perform a DST in the near future.
Development Drilling Starts on Stella Field
Tuesday, June 18, 2013Ithaca Energy begins development drilling operations on the Stella field in the North Sea.
Ithaca Farms Out North Sea Interests
Monday, June 17, 2013Ithaca Energy farms out interests in Handcross prospect to Edison International, while also arranging a farm-out deal with Shell.
Ithaca Appoints Former Statoil Chairman
Thursday, May 30, 2013Ithaca Energy appoints former Statoil chairman, Jannik Lindbæk.
Ithaca Farms Out Beverley License to Shell
Monday, May 13, 2013Ithaca Energy farms out half of its 40-percent share in UK license P1792 to Royal Dutch Shell.
Storbarden Exploration Well is Dry
Monday, April 29, 2013Ithaca Energy reports that the Storbarden exploration well in the North Sea has come up dry.
Ithaca Makes Takeover Offer for Valiant Petroleum
Friday, March 01, 2013Ithaca Energy announces a $309 million recommended offer for Valiant Petroleum that will see the establishment of the company as an independent North Sea oil and gas operator.
Ithaca Completes Cook Field Acquisition
Tuesday, February 05, 2013Ithaca now holds 41.3 percent of the North Sea Cook field after completion of acquisition from Noble Energy.
Ithaca Expects Stable Production from North Sea in 2013
Thursday, January 10, 2013North Sea-focused Ithaca Energy expects 2013 production to be similar to that achieved in 2012, with analysts forecasting dramatic production growth from the Greater Stella Area in 2014-15.