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Full coverage· Economy· Updated

Delek Group Acquires Canadian Offshore Oil Assets for $860 Million

Delek Group's subsidiary Ithaca is acquiring producing offshore oil assets in Eastern Canada from Suncor Energy for $860 million. The deal significantly expands Ithaca's international operations and is expected to boost its production and reserves.

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What happened

  1. 01Delek Group's Ithaca subsidiary is buying Canadian offshore oil assets for $860 million.
  2. 02The acquisition from Suncor Energy marks Ithaca's expansion beyond the North Sea.
  3. 03The deal adds 103 million barrels of proven reserves and significant resources.
  4. 04Production is expected to increase, boosting Ithaca's daily output significantly.
  5. 05The transaction is anticipated to close in the first half of 2027.
Translated and summarized by baba from Ice, the latest report. Read Ice’s original

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