Ithaca Energy to acquire JAPEX UK E&P Limited

Ithaca Energy has agreed to acquire JAPEX UK E&P Limited in a strategic acquisition within the Oil and Gas sector. The transaction was announced and completed on the same day, 7 July 2025, involving a headline offer value of 193 million USD. The consideration for the deal was provided entirely in cash, facilitating the immediate transfer of ownership for the target entity based in Great Britain. This acquisition represents a significant consolidation of assets within the UK upstream exploration and production landscape, bringing the target's operations under the direct control of the acquiring energy company.

The deal structure was executed rapidly, with both the announcement and completion occurring simultaneously on 7 July 2025. As a completed transaction, the acquisition is now finalised, subject to the standard regulatory approvals required for such a substantial change in corporate control within the sector. The parties involved have successfully concluded the process, ensuring that JAPEX UK E&P Limited is now fully integrated into the Ithaca Energy portfolio. This strategic move marks a definitive step in the company's expansion plans for the current financial year. The transaction is subject to regulatory approval.