Ithaca Energy will become the fifth-largest producer in British waters Ithaca EnergyAn Israeli-owned North Sea oil group has clinched a $2 billion deal for most of Chevron’s assets in Britain, catapulting it into the region’s top producers and paving the way for a London listing. Ithaca Energy, which was bought by the Tel Aviv-listed Delek Group in 2017, will be the fifth-largest producer in British waters after the acquisition of ten fields in the central North Sea from Chevron, the American “supermajor”. Ithaca’s production will quadruple to 80,000 barrels per day, which the chief executive said left it well placed for Delek’s aim of listing the company on the main market of the London Stock Exchange. Ithaca was founded in 2004 and listed in Toronto and on London’s junior Aim market in 2006. The takeover two…

Source: The Times May 30, 2019 23:09 UTC