IAE.L Share News (IAE)

Ithaca Energy to buy North Sea oil fields

Ithaca Energy has agreed to buy interests in three UK North Sea oil fields from Sumitomo Corporation for $170m. The firm will purchase a further 20% interest in the Shell-operated Cook field, bringing its total stake up to 61.346%. The company will also acquire 7.48% in the Shell-operated Pierce

UK MORNING BRIEFING: Shares Down As Iraq Fighting Lifts Oil Prices

Ithaca Energy Buys Interests In UK Oil Fields For USD170 Million

Ithaca Energy to buy interests in three UK oil fields for $170 mln

June 23 (Reuters) - Ithaca Energy Inc said it entered into an agreement with Sumitomo Corp to buy interests in three UK oil fields for $170 million. The North Sea oil and gas operator said incremental 2014 pro-forma production from the field interests was estimated to be about 2,500 barrel

Ithaca Energy Keeps 2014 Production Guidance As Stella B1 Succeeds

LONDON (Alliance News) - Ithaca Energy Inc Tuesday said it has successfully drilled the third development well at the Stella field in the North Sea, and it has encountered high-quality reservoir sands. The North Sea oil and gas operator said its 2014 production enhancements programme is pro

Ithaca Energy unveils promising drilling results at North Sea well

Oil and gas explorer Ithaca Energy has reported promising drilling results from a North Sea well. Ithaca, which has exploration and production assets in the UK North Sea and Norwegian exploration activities, said its third well in the Stella field, known as B1, had found high-quality sands across a

UK MORNING BRIEFING: Whitbread Leads FTSE 100 On Strong Quarter

LONDON (Alliance News) - UK shares have opened higher Tuesday, encouraged by a positive close on Wall Street on Monday and ahead of UK inflation data.

Whitbread leads FTSE 100 gainers, as it said its Premier Inn hotels and Costa Coffee shops continued their strong s

Ithaca Energy First Quarter Profit Lifted By 50% Production Increase

LONDON (Alliance News) - Ithaca Energy Inc Tuesday reported higher profits and revenues in the first quarter of its new financial year, driven by a 50% increase in production. The North Sea oil and gas operator reported a pretax profit of USD4.6 million for the three months to March 31, an

Ithaca Energy's first quarter profits rise as production grows

Ithaca Energy's profit after tax in the first quarter surged to 16.4m dollars from 3.5m dollars the prior year as oil production rose. Average production came to 9,222 barrels of oil equivalent per day (boepd) in the three months ended March 31st 2014, up 50% on the same period last year. The comp

Monday broker round-up UPDATE

Atkins (WS): Numis upgrades from add to buy with a target price of 1650p. Barclays: Credit Suisse moves target price from 260p to 275p and retains a neutral rating. Brit: Numis initiates with a target price of 290p and a buy recommendation. British Sky Broadcasting: JP Morgan raises target price

Ithaca Energy faces delays with North Sea rig

North Sea oil and gas explorer Ithaca Energy announced delays and higher costs in building a rig for a North Sea drilling programme, sending its shares down. Ithaca said construction works on its floating production facility (FPF) being built in Poland by Petrofac had taken longer than expected, me

UK MIDDAY BRIEFING: IAG On Steady Path, Petrofac Dives

LONDON (Alliance News) - Oil and gas services company Petrofac Friday issued a profit warning after it said the planned development of the Greater Stella Area oil field in the North Sea would be delayed until next spring, it was hit by low output at a Romanian oil field, and w

UK WINNERS & LOSERS: Petrofac And Tullett Prebon Lead Indices Lower

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - WINNERS
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WPP, up 0.5%. Shares in the media buying giant have risen after France-based P

Ithaca Energy Announces Delays At Greater Stella Area Development

LONDON (Alliance News) - Ithaca Energy Inc Friday said it has been hit by delays at the Greater Stella Area development in the North Sea, moving back production until mid 2015. The oil and gas exploration and development company said the topsides construction programme has advanced more slo

UK MORNING BRIEFING: Petrofac Drops 15% On Profit Warning

LONDON (Alliance News) - Two profit warnings and continued worries about Ukraine and Russia have depressed UK share prices at the open Friday.

Both Petrofac and Drax Group issued profit warnings prior to the open. Petrofac is down 15% at the open, w