Delek Group reports a new deal for subsidiary Ithaca in the expected sea. As part of the transaction, Ithaca will acquire the entire shares of the energy company Siccar Point Eergy, which owns oil and gas producing assets and commercial discoveries in the North Sea region of the United Kingdom. The transaction was financed on the basis of Ithaca’s current credit facilities.
According to the company, the deal is being made as part of preparations for the issuance of Ithaca in 2022 with the intention of increasing Ithaca’s daily production and securing its long-term reserves. As part of the deal:
Ithaca will increase the volume of its reserves in the North Sea by about 250 million barrels of gas and oil;
• The deal is expected to increase Ithaca’s EBITDAX in 2022 to about $ 2 billion;
• Ithaca will become a partner in two of the largest proven oil discoveries in the North Sea;
Siker Point holds 11 licenses, including two of the largest North Sea producer reservoirs, as well as two of the UK’s most undeveloped and important fields.
• Siker-Point has tax losses of about $ 3 billion;
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