Ithaca Energy plans to shed a quarter of its onshore workforce after sinking to a £944m pre-tax loss amid the "historic collapse" of oil and gas prices.
Helicopter group NHV has landed a five-year North Sea contract extension with Ithaca Energy.
Ithaca Energy has completed its latest scheduled six-monthly reserves based lending facility redetermination process.
Delek Group’s reliance on restructuring its debt and selling its assets in order to cover its liabilities has led it to note some concerns that it would able to continue as a going concern in its annual report.
North Sea operator Ithaca Energy intends to make redundancies from its onshore workforce by the end of 2020, its chief executive has confirmed.
Ithaca Energy is still planning to move ahead with a project to boost production from one of its flagship North Sea fields this year, despite deferrals and slashed spending.
Impairments led North Sea operator Ithaca Energy to a £111.4m pre-tax loss in 2019, while the Covid-19 outbreak threatens delays to future projects.
Drilling contractor Archer has said a newly-completed debt refinancing will help it withstand a “meaningful drop in activity”.
With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins are already happening around the world. Even if prices reach this threshold, the UK will avoid shut-ins and exploration is likely to continue in 2020, although cash flow and project sanctioning will suffer, a Rystad Energy impact analysis shows.
Drilling contractor Archer is understood to have laid off another 60 offshore workers following a client’s decision to cut activity levels.
North Sea oil firm Ithaca Energy will cut its 2020 capital expenditure in half to £97 million in response to the crude price drop and Covid-19 outbreak.
A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.
Ithaca Energy has been warned by the UK's safety watchdog after exposing workers to “risk of serious personal injury or death from fire and explosion” on a North Sea vessel.
Nearly 50 offshore jobs at drilling contractor Archer are at risk due to client Ithaca Energy’s plans to reduce activity levels and crews on two central North Sea platforms.
A UK North Sea oil and gas discovery is showing “significant promise”, a project partner said today.
The owner of UK North Sea oil firm Ithaca Energy has been granted a temporary injunction against a lender who demanded the immediate repayment of a £46 million loan.
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.
It was an interesting year for deal-making in 2019, despite political and economic challenges.
Ithaca Energy intends to create a “new infrastructure company” with an unspecified global investment company, the North Sea oil firm’s owner said yesterday.
Ithaca Energy has confirmed plans to sanction phase two of an enhanced oil recovery (EOR) project on the Captain field in the North Sea.
A former petrol pump designer has scooped Opito’s Apprentice of the Year Award at the age of 33.
The multiaward-winning Marischal Square developmentin Aberdeen is 75% let just over two years after construction work ended for the £107 million project.
US oil major Chevron plans to relocate its remaining Aberdeen employees to a prominent Granite City office block.
Ithaca Energy has submitted decommissioning plans for its Anglia field in the Southern North Sea.
Aberdeen’s Ithaca Energy said today that “quick payback” projects had boosted production at the company, which recently bought most of Chevron’s North Sea portfolio.