Ithaca Energy Increases Hedging to Mitigate Oil Weakness
The London and Toronto-listed Ithaca Energy jumps as much as 14 pct.
The North Sea-focused oil and gas operator said it has increased its oil hedging protection since the start of the year in order to mitigate against the impact of further Brent price weakness. Ithaca Energy says 4,000 bopd has been hedged at an average price of $69/bbl from July 2016 to June 2017. Ithaca shares were last reported to be up 13.3 pct.
