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

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]

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. 1 2 3 "Annual Results 2022" (PDF). Ithaca 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. 1 2 "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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