Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure | Drilling Program
Ithaca Energy Delivering Stellar Production in 2016
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Ithaca Energy Inc. has announced its financial results for the twelve months ended 31 December 2014, together with the results of its independently assessed year-end reserves assessment and an operations update.
Highlights Solid underlying cashflow generation despite sharp decline in oil price in the second half of 2014 Increasing production trend from improved portfolio of fields Brent breakeven price reduced to under $10/bbl until Stella start-up with additional hedging executed in Q1-2015 Strong 2014 reserves growth -- 400% reserves replacement ratio Substantial progress made on advancing and de-risking the Greater Stella Area (GSA) development in 2014 -- production start-up scheduled for Q2-2016 Capital Expenditure As previously announced, 2015 capital expenditure is forecast to…Finish this article — free account or subscription
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