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Ithaca Energy to buy out Shell stake in Cambo field

Tue, 12th Sep 2023 07:33

(Sharecast News) - UK oil and gas producer Ithaca Energy on Tuesday said it was buying the remaining 30% stake in the West Shetland Cambo field from Shell UK.

The acquisition, which Ithaca said had minimal near-term cost exposure, will give the company full control over the progression of the future development of Cambo, which is the second largest undeveloped oil and gas discovery in the UK North Sea.

No price was disclosed, but the company said terms were payable on first oil, or receipt of payment to any subsequent sale of the stake by Ithaca.

A fresh sales process to find a new buyer for the Shell stake was launched in May, after the oil giant said it would not progress with the project in December 2021.

Reporting by Frank Prenesti for Sharecast.com

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23 Aug 2023 07:03

Ithaca H1 profits rise on higher production

(Sharecast News) - Ithaca Energy said it expected lower production levels next year in response to the UK government's windfall tax, despite reporting a strong rise in first half profits as higher production and falling costs offset lower oil and gas prices.

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31 Jul 2023 16:56

LONDON MARKET CLOSE: FTSE 100 inches higher as BoE moves into focus

(Alliance News) - European equities closed slightly higher on Monday, supported by favourable eurozone data and the hope of more stimulus in China, after an underwhelming factory reading there.

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27 Jul 2023 16:30

TRADING UPDATES: Ithaca encouraged by K2; Safestyle profit warning

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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21 Jul 2023 16:54

LONDON MARKET CLOSE: FTSE 100 extends win streak before central banks

(Alliance News) - London's FTSE 100 rounded off the week with a slight gain, extending its winning streak to four days on Friday, with a trio of central bank decision on the horizon.

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12 Jul 2023 08:57

Ithaca Energy buys remaining 40% of Fotla discovery in North Sea

(Alliance News) - Ithaca Energy PLC on Wednesday said it has acquired the 40% of the Fotla oil discovery that it didn't already own, as well as three exploration licenses also in the North Sea from Spirit Energy Resources Ltd.

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12 Jul 2023 07:05

Ithaca Energy to buy remaining stake in Fotla discovery

(Sharecast News) - Ithaca Energy announced the signing of a sale and purchase agreement on Wednesday to acquire the remaining 40% stake in the Fotla discovery, along with three exploration licenses, from Spirit Energy Resources.

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10 Jul 2023 09:27

LONDON BROKER RATINGS: HSBC downgrades commercial property stocks

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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5 Jul 2023 09:34

LONDON BROKER RATINGS: UBS likes Pearson; Liberum cuts Naked Wine

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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27 Jun 2023 08:57

LONDON BROKER RATINGS: UBS cuts BT'; HSBC starts Smiths with 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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27 Jun 2023 06:21

UK faces being 'starved' of North Sea power warns Ithaca boss

(Alliance News) - A leading oil and gas producer has warned the UK could be "starved" of North Sea energy under Labour energy plans.

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9 Jun 2023 12:17

LONDON MARKET MIDDAY: Europe slips in pre-central bank jitters

(Alliance News) - Stock prices in Europe wobbled on Friday, with investors nervously awaiting next week's US inflation report and central bank decisions there and in the EU and Japan, while eyes turn to the New York open after a bullish run for the S&P 500 index continued on Thursday.

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1 Jun 2023 09:27

LONDON BROKER RATINGS: Morgan Stanley raises ConvaTec to 'overweight'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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31 May 2023 09:36

Ithaca Energy boosted by quarterly production growth; affirms guidance

(Alliance News) - Ithaca Energy PLC on Wednesday said that its production growth in the first quarter was strong despite a fall in oil and gas prices, and reaffirmed its guidance for the rest of the year.

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31 May 2023 07:10

Ithaca Energy reports solid first-quarter production growth

(Sharecast News) - Ithaca Energy reported a 9% increase in group adjusted EBITDAX in its first quarter on Wednesday, reaching $518.1m.

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24 May 2023 15:45

UK earnings, trading statements calendar - next 7 days

Thursday 25 May 
AJ Bell PLCHalf Year Results
Blackrock Frontiers Investment Trust PLCHalf Year Results
CT Private Equity Trust PLCQ1 Results
DWF Group PLCTrading Statement
Edinburgh Investment Trust PLCFull Year Results
Emis Group PLCFull Year Results
Fevertree Drinks PLCTrading Statement
Headlam Group PLCTrading Statement
Henry Boot PLCTrading Statement
Hill & Smith PLCTrading Statement
Griffin Mining LtdFull Year Results
Inspecs Group PLCTrading Statement
Intermediate Capital Group PLCFull Year Results
Jadestone Energy PLCFull Year Results
Johnson Mattey PLCFull Year Results
Pets At Home Group PLCFull Year Results
Pharos Energy PLCTrading Statement
Picton Property Income LtdFull Year Results
Qinetiq Group PLCFull Year Results
Old Mutual LtdQ1 Results
ReNeuron Group PLCFull Year Results
Renewi PLCFull Year Results
S&U PLCTrading Statement
Sabre Insurance Group PLCQ1 Results
Shires Income PLCFull Year Results
Tate & Lyle PLCFull Year Results
Triad Group PLCFull Year Results
United Utilities Group PLCFull Year Results
Vanquis Banking Group PLCTrading Statement
Workspace Group PLCFull Year Results
Young & Co's Brewery PLCFull Year Results
Friday 26 May 
Amaroq Minerals LtdQ1 Results
Associated British EngineeringHalf Year Results
Caffyns PLCFull Year Results
CT Capital & Income Investment Trust PLCHalf Year Results
HarbourVest Global Private Equity LtdFull Year Results
IntegraFin Holdings PLCHalf Year Results
Volvere PLCFull Year Results
Worldwide Healthcare Trust PLCFull Year Results
Monday 29 May 
no events scheduled 
Tuesday 30 May 
Corre Energy BVFull Year Results
Greencore Group PLCHalf Year Results
Hollywood Bowl Group PLCHalf Year Results
Oxford BioDynamics PLCHalf Year Results
Silver Bullet Data Services Group PLCFull Year Results
Softcat PLCTrading Statement
SpaceandPeople PLCFull Year Results
Tremor International LtdQ1 Results
Wednesday 31 May 
B&M European Value Retail SAFull Year Results
Bloomsbury Publishing PLCFull Year Results
DP Eurasia NVTrading Statement
Impax Asset Management Group PLCHalf Year Results
Ithaca Energy PLCQ1 Results
NWF Group PLCTrading Statement
Premier Miton Group PLCHalf Year Results
Tern PLCFull Year Results
WH Smith PLCTrading Statement
  
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