Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/ithaca-energy-provides-end-of-quarter-operations-u.shtmlIthaca Energy provides end-of-quarter operations update
Ithaca Energy Inc. provides an operations update following the end of the third quarter of the year. The Company is scheduled to issue its financial results
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Ithaca Energy Inc. provides an operations update following the end of the third quarter of the year. The Company is scheduled to issue its financial results for Q3-2015 on 16 November 2015.
Highlights •Average year to date production to the end of Q3-2015 was 12,300 barrels of oil equivalent per day •Commissioning operations have commenced on the 'FPF-1' floating production facility and sail-away of the vessel remains on track for the end of the first quarter of 2016 •Forecast full year 2015 capital expenditure reduced to $120 million, a reduction of approximately $30 million against previous guidance •Further reduction in forecast net debt at the end of 2015 to approximately $750 million, down from previous guidance of under $800 million as a result of cost savings across the business
