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Ithaca Ups Production 10% YOY to 12,066 BOEPD
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Ithaca Energy Inc. announces its financial results for the twelve months ended 31 December 2015, together with the results of its independent year-end reserves assessment and an operations update.
Average production in 2015 was 12,066 boepd (94% oil), representing a 10% increase on 2014.
Solid cashflow generation despite the material decline in Brent prices over the period
Average production of 12,066 barrels of oil equivalent per day, above full year guidance (2014: 10,947 boepd) $261 million cashflow from on-going operations1, a 70% increase on 2014 ($153 million) driven by reduced operating costs and hedging gains Cashflow per share $0.76 (2014: $0.55) Loss after tax of $121 million as result of a $203 million post-tax impairment charge arising from lower forecast future oil and gas…- ✓ Full news archive — U.S., Canada & international coverage
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