KEYFACT Energy
Ithaca Energy is to acquire 100% of the share capital of Summit Exploration and Production in a deal valued at $224 million (£170.5 million).
Ithaca will acquire all of Summit E&P's exploration assets but the deal does not include activities related to low carbon energy systems.
The agreement has an economic date of 1 January 2021 and is subject to normal completion activities including consent from the North Sea Transition Authority.
KeyFacts Energy: Ithaca Energy UK country profile l KeyFacts Energy: Acquisitions & Mergers news