Ithaca Energy forecasts H2 production in line with guidance
27th Jun 2013 10:45
AIM-listed oil and gas operator Ithaca Energy has predicted that total forecast production for the second half of 2013 will be within the company's guidance range of 14,000 and 16,000 barrels of oil equivalent per day (boepd) in an operations update issued on Thursday. The company said that this pr
Read moreIthaca Energy: Hydrocarbons found at Kobbe formation
24th Jun 2013 08:49
The presence of hydrocarbons has been confirmed in the Kobbe formation of Ithaca Energy's appraisal well 7725/3-2 in the Norvag discovery, a drilling update has shown. The AIM-listed oil and gas exploration company said that the findings were based on the results of wire line logs and formation tes
Read moreIthaca Energy begins drilling Stella field
18th Jun 2013 08:16
Ithaca Energy has kicked off development drilling operations on its Stella field. The first of four wells has been drilled using the Ensco 100 heavy duty jack-up rig. Three horizontal wells are to be drilled into the oil rim of the field, along with one highly deviated gas-condensate well on the
Read moreTuesday tips round-up: AT&T, Ithaca Energy, Aggreko
18th Jun 2013 06:38
AT&T is interested in buying Spain's Telefónica, according to reports Monday. The Financial Times' Lex column believes Telefónica's heavy debts of 70bn dollars net could make a deal easier as more than half of Telefónica's value is in its debt. "So AT&T could pay a 40% premium for Telefónica's share
Read moreIthaca Energy unveils further UK exploration portfolio farm-outs
17th Jun 2013 08:27
AIM-listed North Sea oil and gas exploration, development and production company Ithaca Energy has reported the execution of further UK exploration farm-out transactions. The company has executed a farm-out agreement with a subsidiary of Edison International SpA for a 25% interest in the licences
Read moreLondon pre-open: Markets expected to slip early on
11th Jun 2013 07:33
Markets are expected to open slightly lower on Tuesday morning, extending losses made the day before, as traders await a courtroom battle where the European Central Bank (ECB) is expected to defend its bond-buying programme. City sources predict the FTSE 100 will open down 16 points from yesterday
Read moreWood 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
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