Aug 22 (Reuters) - North Sea oil and gas company Ithaca Energy reported a lower net profit for the first half of the year on Thursday, hurt by impairment charges, lower production and a decline in natural gas prices.
Ithaca, which in April agreed to buy nearly all Eni's UK oil and gas producing assets for about 754 million pounds ($986.53 million) in stock, lowered its full-year production forecast to 76 to 81 thousand barrels of oil equivalent per day (kboepd), from 80 to 87 kboepd expected earlier.
Production fell to 53 kboepd in the six-month period ended June 30, from last year's 75.8 kboepd.
The company said its output was hit by operational issues across its non-operated joint ventures and infrastructure together with planned shutdowns across operated portfolio.
Ithaca said realised gas prices fell to $92 per barrel of oil equivalent (boe) in the first six months of the year after hedging from last year's $125 per boe.
Ithaca recorded a net income of $105.7 million for the first half, compared with last year's $159.6 million.
($1 = 0.7643 pounds)
Reporting by Arunima Kumar in Bengaluru; Editing by Subhranshu Sahu
Source: Reuters