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Ithaca Energy PLC ( (GB:ITH) ) has issued an announcement.
Ithaca Energy has announced the results of its exploration drilling at the Jocelyn South prospect in the UK North Sea, revealing signs of hydrocarbons within the Joanne Reservoir. The exploration, conducted in partnership with Harbour Energy, suggests the presence of gas condensate, though further data evaluation is needed to determine commercial viability. This development highlights Ithaca Energy’s ongoing efforts in expanding its operational capabilities and securing its position within the UK’s energy sector.
More about Ithaca Energy PLC
Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea. It is one of the largest independent oil and gas companies on the UK Continental Shelf, known for its significant mergers and acquisitions, including a notable business combination with Eni UK. The company is committed to energy security, sustainable practices, and aims for net zero emissions, aligning with the North Sea Transition Deal.
YTD Price Performance: -11.21%
Average Trading Volume: 1,385,873
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.7B
Learn more about ITH stock on TipRanks’ Stock Analysis page.
