Ithaca Energy PLC K2 Successful Exploration Well Results (3096H)
2023年7月27日 - 3:00PM
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RNS Number : 3096H
Ithaca Energy PLC
27 July 2023
Press release
27 July 2023
Ithaca Energy plc ("Ithaca Energy" or the "Group")
Ithaca Energy announces K2 successful exploration well
results
Ithaca Energy is pleased to announce the results of exploration
drilling at the K2 prospect, located in Block 22/14c of the Central
North Sea of the UK Continental Shelf.
Upon entering the reservoir, Ithaca Energy, acting as the
operator, discovered that hydrocarbons were present in the
reservoir in the Forties member sandstones, with 45 feet of net
thickness. Logs were acquired to establish reservoir quality and
further analysis of the well results will be performed to determine
future activity and the recoverable resources estimate. Ithaca
Energy, together with its joint venture partner, have decided to
perform an appraisal sidetrack following these encouraging results
in the main bore.
Ithaca Energy holds a 50% working interest in the licence with
the remaining 50% working interest held by Dana Petroleum.
Alan Bruce, Chief Executive Officer, commented: "I am delighted
to report encouraging well results at K2, located in close
proximity to existing infrastructure, further enhancing our
portfolio."
Enquiries
Ithaca Energy
Kathryn Reid - Head of Investor Relations, kathryn.reid@ithacaenergy.com
Corporate Affairs & Communications
FTI Consulting (PR Advisers to Ithaca
Energy) +44 (0)203 727 1000
Ben Brewerton / Nick Hennis ithaca@fticonsulting.com
About Ithaca Energy plc
Ithaca Energy is a leading UK independent exploration and
production company focused on the UK North Sea with a strong track
record of material value creation. In recent years, the Company has
been focused on growing its portfolio of assets through both
organic investment programmes and acquisitions and has seen a
period of significant M&A driven growth centred upon two
transformational acquisitions in recent years. Today, Ithaca Energy
is one of the largest independent oil and gas companies in the
United Kingdom Continental Shelf (the " UKCS "), ranking second by
resources.
With stakes in six of the ten largest fields in the UKCS and two
of UKCS's largest pre-development fields, and with energy security
currently being a key focus of the UK Government, the Group
believes it can utilise its significant reserves and operational
capabilities to play a key role in delivering security of domestic
energy supply from the UKCS.
Ithaca Energy serves today's needs for domestic energy through
operating sustainably. The Group achieves this by harnessing Ithaca
Energy's deep operational expertise and innovative minds to
collectively challenge the norm, continually seeking better ways to
meet evolving demands.
Ithaca Energy's commitment to delivering attractive and
sustainable returns is supported by a well-defined
emissions-reduction strategy with a target of achieving net zero by
2040.
Ithaca Energy plc was admitted to trading on the London Stock
Exchange (LON: ITH) on 14 November 2022.
-ENDS-
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