Ithaca wins court case
Ithaca Energy said it had won its court battle over who should pay costs of drilling at its Jacky J03 well in the North Sea.
Ithaca Energy said it had won its court battle over who should pay costs of drilling at its Jacky J03 well in the North Sea.
The Commercial Court of the High Court backed Ithaca's position in concluding that the well was drilled as a "Joint Operation" with North Sea Energy (NSE).
This means NSE is obliged to contribute to the well costs in accordance with its 10% field equity.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
Ithaca said that NSE had not requested leave to appeal the judgment and had been ordered to pay its legal costs of the proceedings.
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
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published