Ithaca Energy said yesterday the integration of newly-acquired Valiant Petroleum was “progressing well” as it revealed a rise in turnover and production.
It said the £203million takeover would lead to nearly £30million of savings in exploration costs across its portfolio, adding it had created a “highly cash generative business”.
Ithaca said Valiant’s UK headquarters in Woking would close this summer, with all operations moved to the firm’s Aberdeen base.
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