Israel’s Delek Group said today that a strong showing from Aberdeen’s Ithaca Energy had bolstered its third quarter results.
Delek confirmed the compulsory acquisition of the remaining shares in Ithaca in June.
The takeover valued Ithaca at around £1billion.
Delek said Ithaca’s third-quarter revenues totalled £55million, up 64% year-on-year.
It attributed the rise to the start of production from the Stella field in February.
Higher oil prices and lower production costs also helped.
Netanya-based Delek’s third quarter revenues came to £375million, up from £330million a year ago.
Pre-tax profits totalled £275million compared to £45million in 2016.
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