Ithaca Energy cuts output guidance, cites UK windfall tax as profits soar 193%
30th Mar 2023 07:04
(Sharecast News) - North Sea oil and gas producer Ithaca Energy on Thursday lowered annual production and capital expenditure guidance, citing the UK government's windfall tax, operational delays and lower volumes despite almost trebling profits in 2022.
Read moreIthaca Energy earnings jump through third quarter
30th Nov 2022 07:13
(Sharecast News) - North Sea-focussed explorer and producer Ithaca Energy reported adjusted EBITDAX of $1.44bn in the first nine months of the year on Wednesday, up from $531m year-on-year.
Read moreIthaca Energy prices IPO at 250p a share
9th Nov 2022 08:40
(Sharecast News) - North Sea oil and gas producer Ithaca Energy said on Wednesday that its initial public offering was being priced at 250p per share - the bottom end of the expected range.
Read moreIthaca Energy starts production at North Sea oil field
17th Feb 2017 09:26
(ShareCast News) - AIM-listed explorer Ithaca Energy has started production at its Stella oil field in the North Sea. The company said that production has been started from the field along with oil exports to the adjacent shuttle tanker. A ramp-up in production will start when the on-going commissi
Read moreIthaca Energy agrees Delek takeover
6th Feb 2017 09:43
(ShareCast News) - AIM-listed Ithaca Energy has entered into a definitive support agreement with Israel's Delek Group on the terms of a cash takeover bid for all the shares of Ithaca it does not already own. The offer, which has been unanimously recommended by Ithaca's board of directors, values the
Read moreTuesday broker round-up
23rd Aug 2016 09:19
(ShareCast News) - Ithaca Energy: Barclays reiterates underweight with a target price of 70p. Mediclinic: JP Morgan maintains neutral with a 1160p target. Premier Oil: Barclays reiterates overweight with a 100p target. South 32: Jefferies reiterates hold with a 110p target. Mondi: Citigroup keeps
Read moreIthaca Energy reports better than expected average production at half-year stage
15th Aug 2016 15:28
(ShareCast News) - Ithaca Energy reported a sharp increase in cash flows and reduction in net debt at the half-year stage ahead of the start of production at its Stella field, which management forecast would lead to a step-change in production and hence cash flows. On a hedged basis, during the peri
Read moreIthaca Energy expands footprint in the Greater Stella Area
2nd Aug 2016 15:53
(ShareCast News) - Ithaca Energy took another step in its 'hub and spoke' strategy in the Greater Stella Area of the North Sea after signing four agreements to acquire further interests in the Vorlich and Austen discoveries. In parallel, the company had completed the majority of the deep water marin
Read moreBarclays names Ophir Energy 'top-pick', upgrades Premier Oil
21st Jun 2016 14:46
(ShareCast News) - Analysts at Barclays re-jigged their recommendations on European Exploration and Production companies in order to take into account the recent rise in crude oil prices and improved investor sentiment regarding companies´ ability to execute to plan operationally. In the process
Read moreTuesday broker round-up
29th Mar 2016 16:51
(ShareCast News) - Synthomer: Berenberg downgrades to hold with a target price of 345p. Next: Goldman Sachs downgrades to neutral, 6400p target, Canaccord downgrades to hold with a target price of 6025p, Deutsche Bank reiterates buy with a target of 6850p and Credit Suisse stays at underperform, 560
Read moreLiberum cuts targets on wide swathe of oil sector firms
2nd Feb 2016 12:33
(ShareCast News) - Analysts at Liberum cut their share price targets for a wide swathe of the London-listed oil sector after taking into account the sharp shift lower in futures prices over the last four months. Worries about demand conditions in China and Europe, together with the threat of growing
Read moreIthaca appoints new chief commercial officer
5th Jan 2016 15:56
(ShareCast News) - Ithaca Energy announced the appointment of a new Chief Commercial Officer on Tuesday, in long-serving staff member Richard Smith. The AIM-listed North Sea oil and gas operator confirmed Dr Smith's appointment was effective from January 1. "Dr Smith has held the position of corpor
Read moreIthaca Energy extends bank financing facilities, removes covenants
29th Apr 2015 10:55
Ithaca Energy has extended and simplified its bank debt financing facilities totaling $650m. This has provided Ithaca with funding headroom ahead of first hydrocarbons from the Greater Stella Area in the second quarter of 2016. The $650m in facilities consists of a senior reserve based lending facil
Read moreBroker tips: Standard Life, Serco, Oil stocks
20th Feb 2015 11:54
Panmure Gordon has reiterated its 'buy' recommendation for Standard Life after the insurer beat forecasts with its 2014 results on Friday, saying it expects the shares to rally. "These results were ahead of expectations and we anticipate that the strong underlying performance that suggests that ther
Read moreWesthouse names Faroe, Genel and Ithaca as top picks amid oil volatility
20th Feb 2015 09:43
Despite the recent rally in oil prices uncertainties still remain for the sector, according to Westhouse Securities which picked out Faroe Petroleum, Genel Energy and Ithaca Energy as its key recommendations in the face of ongoing volatility. Brent oil, which had fallen to a low of $47.68 a barrel l
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