The company stated the move creates a platform for additional transactions to increase its scale across North America. Previously, the producer’s assets and production were concentrated entirely within the North Sea.
Tuesday, October 20, 2026
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Ithaca Energy Buys Suncor Canada Oil Assets for Up to 1.1 Billion
Business16 days ago
A shift in investment strategy has led a UK oil producer to seek assets outside its primary operational zone. Ithaca Energy agreed to purchase offshore oil stakes from Suncor Energy in a deal that could reach $1.1 billion, representing the company's first international acquisition. The transaction was initially reported as being valued at $842 million.
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