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The Aim 100 2015: 100-91

The Aim 100 2015: 100-91

100. ITHACA ENERGY

Few North Sea drillers could have experienced a more troubling year than Ithaca Energy (IAE). The company’s share price has lost nearly 70 per cent of its value over the past 12 months due to plummeting crude oil prices and delays to a modification programme on its FPF-1 floating production facility. These delays have pushed back first oil from the Greater Stella offshore hub - Ithaca’s key expansion project - but Greater Stella will eventually add around 16,000 barrels a day (bopd) to production. This year, Ithaca hopes to average around 12,000 bopd, so the step up in scale is obvious.

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