Ithaca Energy Inc

Ithaca Energy Inc. is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio.

Ithaca has a solid and diversified UK producing asset base generating significant free cashflow, mainly from oil production.  

Current development activities are focused on the construction of a new Ithaca operated production hub in the “Greater Stella Area” of the UK Central North Sea. 

The Company also has a limited UK exploration asset portfolio, with all associated well costs carried through farm-out arrangements.

Ithaca is a Canadian incorporated company with its headquarters in Aberdeen, United Kingdom

The Company has significant experience of originating and executing appraisal and development projects; unlocking value through the monetisation of reserves. Ithaca has also established a strong track record for delivering innovative commercial transactions and acquisitions.

Company Strategy

Ithaca’s strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company.

Execution of the Company’s strategy is focused on the following core activities:

• Maximising cashflow and production from the existing asset base
• Delivery of lower risk, long term development led growth through the appraisal of undeveloped discoveries
• Delivering first hydrocarbons from the Ithaca operated GSA development
• Continuing to grow and diversify the cashflow base by securing new producing, development and appraisal assets through targeted acquisitions and licence round participation
• Maintaining capital discipline, financial strength and a clean balance sheet, supported by lower cost debt leverage