List ithaca voice9/21/2023 ![]() Idan Wallace, CEO of Delek, said: “Delek has invested a large amount of capital in Ithaca Energy since we acquired it in 2017, delivering significant value for our shareholders. It is understood that Ithaca is around a third of the size of Harbour, based on production. When Harbour Energy, which has enjoyed similarly bullish growth in recent years, made its debut in London in 2021, it had a market cap of around $5.9bn. Ithaca has yet to give an indication or ambition as to the potential size of the IPO. Those eight fields cover the majority of its 2P reserves and 2C resources. Ithaca’s portfolio consists of 28 producing field interests in the UKCS, of which it is the operator of eight fields. ![]() The company believes it has sufficient development opportunities to enable production to be increased to over 100 thousand barrels of oil a day (kboe/d) in the medium-term. I would like to thank them all for their continued hard work and ongoing commitment to the business.” Vast proven reservesĪs of the end of June, Ithaca had proven reserves of 244 million barrels of oil equivalent (mmboe), and aggregate best estimate contingent resources of 302 mmboe. “Our people are core to everything we do and their safety is my number one priority. Those transactions gave the group stakes in six of the top ten largest oil and gas fields in the UKCS, including Cambo and Rosebank. It followed a period of rampant growth for the firm, with high-profile deals for Marubeni, Summit Exploration and Siccar Point Energy. Ithaca now among the UK’s largest operators Ithaca has been advised throughout the process by Pinsent Masons’ energy and corporate specialists, led by Glasgow-based Global Head of Oil and Gas Rosalie Chadwick.ĭelek Group, Ithaca’s parent firm, announced in May that the operator would make its IPO in London “as soon as possible”. The UK Government is also believe to be keenly following it given the ongoing focus on energy security. It plans to apply for admission of its ordinary shared to the premium listing segment of the Official List of the FCA, and to trading on the main market for listed securities of the LSE.Īccording to recent reports, the IPO, thought to be the only listing of scale ongoing in Europe, could raise as much as $1 billion. The North Sea exploration and production company intends to publish a registration document, required for admittance to the market, today. Ithaca Energy is putting the final touches on proposals for an initial public offering (IPO) on the London Stock Exchange. Copy link A decentered black square over a white square. WhatsApp Messenger An icon of the Whatsapp messenger app logo. ![]() Facebook Messenger An icon of the Twitter app logo. Facebook Messenger An icon of the facebook messenger app logo. Loading Spinner An icon of a loading spinner. Success Tick Timeout An icon of a greyed out success tick. Information An icon of an information logo. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Video Camera An icon of a video camera shape. Previous An icon of an arrow pointing to the left. Notice An explanation mark centred inside a circle. Next An icon of an arrow pointing to the right. Hamburger Menu Icon An icon used to represent a collapsed menu. Search Icon A magnifying glass icon that is used to represent the function of searching. Magnifying Glass An icon of a magnifying glass. Comments An icon of a speech bubble, denoting user comments. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Breaking An icon of an exclamation mark on a circular background. Pause Icon A two-lined pause icon for stopping interactions. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Is Public An icon of a human eye and eyelashes. Telephone An icon of a traditional telephone receiver. Profile An icon that resembles human head and shoulders. Linked In An icon of the Linked In "in" mark. Facebook An icon of the Facebook "f" mark. Caret An icon of a block arrow pointing to the right. ![]() Cancel An icon of a circle with a diagonal line across.
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