Delek assumes control of Ithaca

Delek Group’s takeover bid for Ithaca Energy has been successful, with the Israeli company now owning 94.2% of Ithaca’s issued common stock.

Offshore staff

TEL AVIV, IsraelDelek Group’s takeover bid for Ithaca Energy has been successful, with the Israeli company now owning 94.2% of Ithaca’s issued common stock.

Asaf Bartfeld, president and CEO, said the company has “today has become an international energy group. Ithaca’s enormous potential and its operational capabilities in drilling, particularly in deepwaters, enhance Delek Group’s capabilities and firmly establishes the group’s operational arm.

“We will continue to work with Ithaca’s highly professional management team, which has led it to success with its oil and gas assets.”

Chief among these are theGreater Stella Area gas-condensate project in the UK central North Sea, which started producing in February, and a share in the nearby Vorlich discovery.

05/04/2017

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