Ithaca Energy Company News

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Awilco Signs Rig Contract for North Sea Well
The semisub will drill a single exploration well.
8:00 PM EST | April 19, 2021
Commissioning Support Contract Goes to Ampelmann
This photo shows Ampelmann's offshore transfer system on the Olympic Taurus W2W vessel. PHOTO SOURCE: Ampelmann
8:00 PM EST | July 29, 2020
Buyer for Chevron's UK Fields Seeks Funds From Traders
A 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.
8:00 PM EST | October 16, 2019
Ithaca Energy Starts Production from North Sea Stella Field
North Sea oil and gas operator Ithaca Energy Inc. announces the successful start-up of production from the Stella field.
7:00 PM EST | February 16, 2017
Delek Group to Issue Ithaca Energy Takeover Bid for $524MM
Israel'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.
7:00 PM EST | February 05, 2017
Ithaca Energy: Stella Production Start-up Delayed
Ithaca Energy Inc. reveals that the start-up of the Stella field, located in the central North Sea, has been pushed back to February.
7:00 PM EST | January 11, 2017
Ithaca Energy Expects Stella Production to Commence January
Ithaca 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.
7:00 PM EST | November 24, 2016
Ithaca Energy Inc Set to Double Production with Stella Output
North 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.
8:00 PM EST | August 14, 2016
Ithaca Energy Expands GSA Interest with New Acquisitions
Ithaca 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.
8:00 PM EST | August 01, 2016
Ithaca Says Stella Production Facility Undergoing Sea Trials
The 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.
8:00 PM EST | July 21, 2016
Ithaca Increases Production, Expects Prompt Output Ramp-up From Stella
Ithaca 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.
8:00 PM EST | July 10, 2016
Ithaca Energy Turns Loss to Profit in 1Q, Maintains Capex
Ithaca Energy turned loss to profit in the first quarter of 2016, maintaining its capital expenditure of $50 million for the year in the process.
8:00 PM EST | May 15, 2016
BW Athena FPSO to Demobilize from UKCS in February
BW Offshore comes to an agreement with Ithaca Energy to demobilize the FPSO BW Athena in February 2016.
7:00 PM EST | January 21, 2016
Ithaca Sees Production Doubling in 2016 on Stella Start-Up
Ithaca 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.
7:00 PM EST | January 11, 2016
North Sea: Indies, Juniors Driving Exploration, Development in 2016
Rigzone 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.
7:00 PM EST | January 11, 2016
Ithaca Appoints New Chief Commercial Officer
Ithaca promotes Dr Richard Smith to the role of chief commercial officer.
7:00 PM EST | January 04, 2016
Israel's Delek Buys $66M Stake in North Sea Oil Producer Ithaca
Israeli gas firm Delek Group acquires a near 20-percent stake in North Sea-focused oil producer Ithaca Energy for $66 million.
8:00 PM EST | October 08, 2015
Premier Oil Comes Up Dry in North Sea Well
Premier 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.
8:00 PM EST | September 02, 2015
Ithaca Confirms 12,000-Barrel per Day Target for 2015
An 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.
8:00 PM EST | July 15, 2015
MOL Group Acquires Ithaca Petroleum Norge
MOL 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.
8:00 PM EST | July 08, 2015
Ithaca Energy Shares Slide after Disclosing North Sea Dispute
UK North Sea-focused Ithaca Energy says it has received a legal claim regarding its Greater Stella Area oilfield in the North Sea.
8:00 PM EST | May 27, 2015
Ithaca Issues Positive 1Q Results Update
UK North Sea-focused Ithaca enjoys a positive first quarter, generating strong cash flow ahead of the start-up of its Stella field next year.
8:00 PM EST | May 13, 2015
Ithaca Simplifies Debt Facilities Ahead of Stella Start-Up
Ithaca 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.
8:00 PM EST | April 28, 2015
Ithaca Agrees to Sell Norwegian Business to Hungary's MOL
North Sea-focused Ithaca Energy agrees to sell its Norwegian business to Hungary's MOL for $60 million.
8:00 PM EST | April 23, 2015
Ithaca Finishes Stella Field Development Drilling
Ithaca 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.
8:00 PM EST | April 12, 2015
Ithaca Cuts Capex Budget by 60% for 2015
North Sea producer Ithaca Energy cuts its capital spending budget for 2015 by 60% to $150 million.
7:00 PM EST | January 11, 2015
Ithaca Appoints New COO
Ithaca Energy appoints Roy Buchan as its new chief operations officer.
7:00 PM EST | December 22, 2014
North Sea Independents Report Solid Progress
North Sea producers Premier Oil and Ithaca Energy both issue 'solid' updates for their respective third quarters.
7:00 PM EST | November 12, 2014
Ithaca Completes 4th Development Well on Stella Field
Ithaca Energy drills the fourth development well on its Stella field in the North Sea, achieving a flow rate of 12,005 barrels per day.
8:00 PM EST | September 15, 2014
Tullow North Sea Well Comes Up Dry
Tullow's Lupus-1 wildcat well in the Norwegian North Sea fails to find hydrocarbons.
8:00 PM EST | July 20, 2014
Ithaca Production In Line with Forecasts
Ithaca Energy reports average production for the second quarter of 2014 of 14,400 barrels per day, in line with forecasts.
8:00 PM EST | July 09, 2014
Ithaca De-Risks Stella Production with Flow Test on 3rd Well
Ithaca 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.
8:00 PM EST | June 26, 2014
Ithaca Buys Interests in 3 UK Fields
Ithaca Energy pays Sumitomo Corporation $170 million for two North Sea fields and one onshore UK field.
8:00 PM EST | June 22, 2014
BW Signs Extension to Athena FPSO Contract
Ithaca 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.
8:00 PM EST | June 05, 2014
Ithaca Expects Steady Production in 2014
North Sea-focused Ithaca Energy expects steady production from its operations during 2014 ahead of the Greater Stella Area hub producing its first hydrocarbons.
7:00 PM EST | January 14, 2014
Det Norske Spuds Barents Sea Well
Det norske oljeselskap drills exploration well targeting the Langlitlinden prospect in the Barents Sea.
7:00 PM EST | January 13, 2014
Ithaca to Issue 'Stream' of News Ahead of Greater Stella Start-up
Ithaca Energy is expected to issue a 'stream' of news ahead of the production start-up of its Greater Stella Area development in mid-2014.
7:00 PM EST | November 10, 2013
Ithaca Hits 'Major Milestone' with FPF for Greater Stella Project
Ithaca Energy reports a 'major milestone' with the construction of its floating production facility for its Greater Stella Area development.
8:00 PM EST | October 14, 2013
Ithaca 'Graduates' into a Leading Independent with Debt Deal.
Ithaca Energy says it underlined its graduation into a leading independent North Sea oil firm with a new debt funding deal.
8:00 PM EST | October 09, 2013
New CEO for Ithaca Energy
Ithaca Energy reports that CEO Iain McKendrick is leaving the firm for personal reasons.
8:00 PM EST | September 26, 2013
Ithaca Makes Further North Sea Farm-out Deals
Ithaca Energy farms out its interests in Handcross and Isabella prospects, as well as three blocks West of Shetland.
8:00 PM EST | September 22, 2013
Ithaca Production on Target for 2013
Ithaca 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.
8:00 PM EST | August 12, 2013
Norvarg Reveals Hydrocarbons
Ithaca Energy has successfully appraised the Norvarg well and will perform a DST in the near future.
8:00 PM EST | June 23, 2013
Development Drilling Starts on Stella Field
Ithaca Energy begins development drilling operations on the Stella field in the North Sea.
8:00 PM EST | June 17, 2013
Ithaca Farms Out North Sea Interests
Ithaca Energy farms out interests in Handcross prospect to Edison International, while also arranging a farm-out deal with Shell.
8:00 PM EST | June 16, 2013
Ithaca Appoints Former Statoil Chairman
Ithaca Energy appoints former Statoil chairman, Jannik Lindbæk.
8:00 PM EST | May 29, 2013
Ithaca Farms Out Beverley License to Shell
Ithaca Energy farms out half of its 40-percent share in UK license P1792 to Royal Dutch Shell.
8:00 PM EST | May 12, 2013
Storbarden Exploration Well is Dry
Ithaca Energy reports that the Storbarden exploration well in the North Sea has come up dry.
8:00 PM EST | April 28, 2013
Ithaca Makes Takeover Offer for Valiant Petroleum
Ithaca 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.
7:00 PM EST | February 28, 2013
Ithaca Completes Cook Field Acquisition
Ithaca now holds 41.3 percent of the North Sea Cook field after completion of acquisition from Noble Energy.
7:00 PM EST | February 04, 2013