Spirit Energy Ltd has completed the sale of a 46.25% interest in the Cygnus gas field to Ithaca Energy plc. INTEREST The companies announced the transaction in May 2025. Spirit will receive a headline consideration of £116 million and the transfer of £99m associated decommissioning liabilities. The company retains a 15% interest in the field while […]
Tag: sale of interest
Spirit sells 46.25% stake in Cygnus to Ithaca
Spirit Energy Ltd has agreed a £215 million sale of a 46.25% interest in the Cygnus gas field, 150km east of the Lincolnshire coast in the Southern North Sea. VALUE The company will retain a 15% stake while Israeli purchaser and operator Ithaca Energy plc will hold 85%. Spirit’s 2P reserves will reduce by 19.4 million […]