Ithaca Energy Inc. (Ithaca) is involved in the exploration, development and production of oil and gas in the North Sea. During the year ended December 31, 2010, the combined production from Beatrice and Jacky averaged 9,336 barrels of oil per day gross (4,485 barrels of oil per day net to Ithaca) as measured at the Nigg storage facility. In February 2010, the Galaxy II rig commenced drilling at the Stella appraisal well location in block 30/6a. In February 2011, it completed the drilling of a water injection well for the Athena field development. Ithaca has a wholly owned subsidiary Ithaca Energy (UK) Limited. The Beatrice Field, in which Ithaca holds a 50% interest, is operated by Ithaca. The Athena field is situated in block 14/18b in the Outer Moray Firth area of the United Kingdom's Continental Shelf. In April 2013, Ithaca Energy Holdings (UK) Ltd acquired the entire share capital of Valiant Petroleum PLC.