Ithaca Energy: Greater Stella Development Progressing Well

摘要

Development of Canadian Ithaca Energy's Greater Stella Area in the UK North Sea is now progressing according to plan, the company said in its second-quarter results presentation Tuesday. Completion of the Ithaca-operated project was previously pushed back to the middle of next year from late this year because of delays in building the floating production facility (IOD May12'14). During the quarter, drilling of the third development well at Greater Stella was completed. The strong results of the flow test performed, along with the results of the first two wells, have de-risked the initial annualized production forecast from the project of approximately 16,000 barrels of oil equivalent per day net to Ithaca, the company said.