UK based Ithaca Energy, have announced that an investment group from Israel have bought into the company, securing shares of its oil and gas rights.
Ithaca own and operate 8 offshore oil and gas assets in the UK North Sea, including the Cook and Athena FPSOs.
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The offshore energy firm confirmed that DKL Investments had paid GB£43 million (US$66m) for 19.9% of Ithaca.
Ithaca Chief Executive Officer, Les Thomas,said: “We are pleased to have secured Delek’s investment in the Company at a significant premium to the prevailing share price at this time of uncertain oil prices.”
“The investment provides a solid vote of confidence in the long term value of Ithaca by a successful oil and gas investor and provides additional flexibility to execute the financial and strategic priorities of the business.”
DKL Investments is a wholly owned subsidiary of Israel’s dominant energy company- Delek Group.Last updated on 05:12PM - 12/10/15