Ithaca Energy Acquires Offshore Canada Assets From Suncor
Ithaca Energy PLC has entered into an agreement to acquire a portfolio of conventional offshore oil assets located in Canada from Suncor. The deal is anticipated to be immediately accretive to Adjusted EBITDAX, free cash flow, and dividend per share upon completion.
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01:13:41 AM UTC
SquawkNews
Canada's Suncor Energy TSX:SU agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore oil assets to London-based Ithaca Energy LSE:ITH for C$1.2 billion ($841.69 million) in upfront cash, with an additional contingent payment of up to C$350 million, the companies sai…
Ithaca Energy said it is acquiring a portfolio of conventional offshore oil assets in Canada from Suncor. The company said the transaction is expected to be immediately accretive to adjusted EBITDAX, free cash flow and dividend per share from completion.