Wood Group secures 200 UK jobs through Ithaca contract extension
11th Jun 2013 07:13
Energy services firm Wood Group has signed its first 'life-of-field' contract through an extension of work in the North Sea for AIM-listed Ithaca Energy worth 200m dollars (140m pounds). Wood Group's PSN division (WGPSN), which began working with Ithaca in 2008, will continue to operate and deliver
Read moreIthaca Energy's first quarter production rises
13th May 2013 13:08
Ithaca Energy on Monday posted a 51 per cent increase in new export production to 6,475 barrels of oil equivalent per day (boepd) for the first quarter. Production met the upper range of the 2013 guidance of 6,000 to 6,700 boepd in the first three months of the year. Cashflow from operations jump
Read moreIthaca Energy reports absence of hydrocarbons at Storbarden well
29th Apr 2013 08:41
AIM-listed North Sea oil and gas exploration, development and production company Ithaca Energy has reported that the Storbarden exploration well on PL 506S in Norway has not encountered hydrocarbons and the well is to be plugged and abandoned. The company reported that the costs of this and the o
Read moreMonday broker round-up UPDATE
22nd Apr 2013 07:20
Admiral Group: Deutsche Bank takes target price from 1140p to 1300p retaining a hold recommendation. African Barrick Gold: Deutsche Bank ups target price from 173p to 180p staying with its hold recommendation. Albemarle & Bond: Canaccord Genuity reduces target price from 280p to 146p and downgrade
Read moreFriday broker round-up UPDATE
19th Apr 2013 08:47
African Barrick Gold: JP Morgan cuts target price from 290p to 200p, while leaving its underweight rating rating unchanged. Fox Davies reduces target price from 353p to 315p and maintains a hold rating. Westhouse Securities lowers target price from 195p to 180p retaining a neutral rating. Belvoir L
Read moreIthaca Energy director adds 40,000 shares to existing stake
8th Apr 2013 15:53
Ithaca Energy's Non-Executive Director, John Summers, has purchased 40,000 shares in the company, boosting his stake to 254,700. The purchase was made ahead of its announcement that it has contracted the services of Applied Drilling Technology International (ADTI) for development drilling at its Gr
Read moreIthaca Energy signs turnkey drilling contract
8th Apr 2013 10:18
Ithaca Energy has contracted the services of Applied Drilling Technology International (ADTI) for development drilling at its Greater Stella Area (GSA) discovery in the North Sea. The turnkey contract with ADTI, a subsidiary of Transocean, will lock in the expenditure and performance requirements o
Read moreBelvoir Lettings Chairman sells shares to satisfy institutional demand
5th Apr 2013 16:55
Belvoir Lettings, the UK lettings specialist which listed on the AIM market in February last year, announced on Friday that its Executive Chairman and founder had sold a quarter of a million shares in the group in order to help satisfy 'significant institutional demand'. The news comes just a week
Read moreIthaca Energy posts increase in annual earnings
26th Mar 2013 08:59
Ithaca Energy reported a 160 per cent rise in 2012 earnings on Tuesday as the North Sea oil and gas company benefit from strong production, increased exporter and higher prices. Net earnings came to $93.4m for the year, up from $35.9m in 2011, as cashflow from operations increased by 50% to $90.3m
Read moreTuesday tips round-up: Ithaca Energy, Amlin
5th Mar 2013 07:29
Oil explorer Ithaca Energy was off a touch on Monday, after having taken a hit on Friday, when it announced the purchase of Valiant Petroleum. While some nerves may be understandable the oil team at Westhouse Securities points out that the fact the deal could pay for itself in two years may have bee
Read moreTuesday broker round-up UPDATE
5th Mar 2013 07:15
Abcam: Investec raises target price from 466p to 484p and keeps a buy recommendation. Numis revises target price from 470p to 530p and maintains its buy ratng. Access Intelligence: Merchant Securities initiates with a target price of 7p and a buy recommendation. Amlin: Canaccord Genuity raises tar
Read moreIthaca Energy acquires Valiant Petroleum
1st Mar 2013 11:32
Valiant Petroleum's shared soared by nearly 30 per cent Friday after Ithaca Energy announced it would acquire the company for 203m pounds. The acquisition will more than double Ithaca's 2013 production forecast to 14,000 to 16,000 barrels of oil equivalent per day. However Ithaca's shares fell 10%
Read moreIthaca Energy increases stake in Cook field
5th Feb 2013 10:53
AIM-listed oil and gas exploration company Ithaca Energy has completed the acquisition of a wholly-owned UK subsidiary company of Noble Energy Capital Limited. The acquired subsidiary owns a 12.885% non-operated interest in the Cook field, an oil-rich prospect located in the Central North Sea, app
Read moreFriday broker round-up UPDATE
11th Jan 2013 07:01
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating. Afren: Deutsche Bank cuts target price from 175p to 165p stayling with its buy rating. Ashmore Group: Credit Suisse moves target price from 380p to 375p and downgrades to underperform.
Read moreIthaca Energy posts Q4 production up 31 per cent on previous quarter
10th Jan 2013 13:37
North Sea focused oil and gas company Ithaca Energy reported Thursday that its fourth quarter production results came within expectations, up 31 per cent on the previous quarter. Net average export production - including net production from the Cook and MacCulloch field interests being acquired fro
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