Acquisition
Today, Ithaca Energy announced the acquisition of stakes in Terra Nova and White Rose.
The oil and gas operator herewith establishes a transformational strategic position offshore Eastern Canada.
As Ithaca’s first international acquisition, the transaction is closely aligned with the company’s vision of building ‘Scale. Stability. Strength’. It reflects its disciplined approach to expanding into regions where we believe we can create long-term sustainable value for our shareholders.
Providing scale and diversification, the acquisition adds long-life, low-decline production in an offshore environment with many similarities to the UK Continental Shelf, strengthening our production outlook and resource base while creating a platform for future organic and inorganic growth.
