Ithaca Energy completed its acquisition of Chevron North Sea for $2bn.

Delek-backed Ithaca Energy, an oil and gas operator focused on North Sea production, appraisal and development activities, completed its acquisition of Chevron North Sea, Chevron’s British North Sea oil and gas field unit, for $2bn. "Completion of the CNSL acquisition marks a major milestone in the long term development of Ithaca Energy. The significantly enlarged operations provide an excellent platform from which to maximise the value of our high-quality asset portfolio and establishes the Company as a leading UK North Sea oil and gas producer. We have a highly experienced organisation that is well set-up to deliver upon our investment plans and secure the future success of the business. With this exciting backdrop, we look forward to contributing to the industry's objective of maximising economic recovery for the UK North Sea over the years to come," Les Thomas, Ithaca Energy CEO.