AIM-listed oil and gas exploration company Ithaca Energy has completed the acquisition of a wholly-owned UK subsidiary company of Noble Energy Capital Limited.
The acquired subsidiary owns a 12.885% non-operated interest in the Cook field, an oil-rich prospect located in the Central North Sea, approximately 175km east of Aberdeen and 20km north of the Gannet Cluster development.
The field was discovered in 1983 and has oil trapped in a single sandstone reservoir.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Following the transaction, Ithaca holds a 41.345% interest in the Cook field.
Ithaca's share price was down 0.59% to 125.50p at 10:51 on Tuesday.
MF
-
Bitcoin hits new heights - is now a good time to invest?The value of Bitcoin has surged to a 20-month high. Why is Bitcoin rising and is now a good time to invest?
-
Gold hits record high - could it soar higher next year?
The yellow metal has hit a new all-time high. We look at market expectations for 2024, whether investors should sell and take profits, and how to invest in gold.
