Ithaca Energy pins hopes on North Sea startup

摘要

North Sea-focused Ithaca Energy posted losses for 2015, but is determined to push ahead with developing the Stella field and weather the lower energy price environment. Ithaca’s USD 121 million loss was four times larger than the previous year, despite the company beating its output forecast and increasing annual production by 10% to 4.4 million barrels of oil equivalent (boe).