More money for North Sea
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Author：lisa
Date：2010/7/14/ 15:49
Ithaca Energy has secured further cash for its North Sea projects.
Ithaca has arranged for a new US $140 million of finance – a “facility agreement” with the Bank of Scotland with a loan period of up to five years.
The new finance arrangement comes after the company indicated back in April it was arranging a new senior secured borrowing base facility.
And it comes after Ithaca signalled last week it had raised another $150 million to fully finance it development of the Greater Stella Area in the North Sea through to first production, to tap the Stella, Harrier and Hurricane discoveries.
Ithaca has arranged for a new US $140 million of finance – a “facility agreement” with the Bank of Scotland with a loan period of up to five years.
The new finance arrangement comes after the company indicated back in April it was arranging a new senior secured borrowing base facility.
And it comes after Ithaca signalled last week it had raised another $150 million to fully finance it development of the Greater Stella Area in the North Sea through to first production, to tap the Stella, Harrier and Hurricane discoveries.
