Ithaca Energy

Ithaca Energy plc is a British oil and gas company operating in the North Sea. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.[2]

Ithaca Energy plc
TypePublic
IndustryEnergy
Founded2004
HeadquartersAberdeen, Scotland
Key people
Gilad Myerson (Chairman)
Alan Bruce (CEO)
RevenueIncrease $2,598.5 million (2022)[1]
Increase $2,443.5 million (2022)[1]
Increase $1,031.5 million (2022)[1]
Websiteinvestors.ithacaenergy.com

History

The company was established in Canada in 2004 and moved to the UK when it took over operations in the Beatrice oil field in 2008.[3][lower-alpha 1]

In December 2010, Ithaca Energy became operator of the Anglia gas field by acquiring 30% stake in the field from GDF Suez E&P UK.[5][lower-alpha 2]

It traded on the Alternative Investment Market until it was acquired by an Israeli-based company, Delek Group, in 2017.[7]

The company acquired Siccar Point Energy for $1.5 billion, giving it stakes in the Rosebank oil and gas field and the Cambo oil field, in July 2022.[8][9]

The company was the subject of an initial public offering on the London Stock Exchange in November 2022.[10][11][12]

Notes
  1. Talisman Energy resumed ownership of the field in 2015 in preparation for decommissioning the field.[4]
  2. Ithaca Energy ceased production in the Anglia gas field in 2015.[6]

Operations

The company has a 20% stake in the non-operating Rosebank oil and gas field and 70% stake in the operating Cambo oil field.[7]

References
  1. "Annual Results 2022" (PDF). Ithica Energy. Retrieved 30 March 2023.
  2. "FTSE UK Index Series Quarterly Review March 2023". FTSE Russel. 1 March 2023. Retrieved 5 March 2023.
  3. "Oil and Gas | Moray Firth Partnership". Archived from the original on 24 December 2013. Retrieved 24 December 2013.
  4. "More UK operators submitting plans for platform, subsea removal programs". Offshore Magazine. 19 August 2015. Retrieved 5 March 2023.
  5. "Ithaca Acquires Certain UK North Sea Gas Interests form GDF Suez". Offshore Energy. 17 December 2010. Retrieved 5 March 2023.
  6. "Ithaca approved to remove North Sea Anglia platform". Offshore Magazine. 27 August 2020. Retrieved 5 March 2023.
  7. "Ithaca Energy confirms London IPO plans". Financial Times. 18 October 2022. Retrieved 5 March 2023.
  8. "Ithaca completes $1.5bn acquisition of Cambo operator Siccar Point Energy". Energy Voice. 4 July 2022. Retrieved 5 March 2023.
  9. "Ithaca Energy Wraps Siccar Point Energy Buy". Offshore Engineer. 4 July 2022. Retrieved 5 March 2023.
  10. "Ithaca Energy set for London's biggest IPO in 2022". Reuters. 2 November 2022. Retrieved 5 March 2023.
  11. "Oil producer Ithaca shares sink in UK's largest IPO of 2022". Reuters. 9 November 2022. Retrieved 5 March 2023.
  12. "Ithaca Energy posts huge $2bn profits in first results since IPO". Energy Voice. 30 November 2022. Retrieved 5 March 2023.
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