AcquisitionIthaca has announced a small bolt-on acquisition of 46% of the Cygnus field, the UK's largest producing gas field, in which it already owns a 38% stake, taking ownership to 85%.
Operational PerformanceThe new COO's focus on operational performance is already showing positive results in production.
ReservesThe 2P reserves being acquired are above current estimates for the field, indicating significant upside to reserves.