Ithaca Energy PLC
3.57
EUR
-0.06
(-1.55%)
Ithaca Energy PLC
XETR:XE3
(Deutsche Borse Xetra)
Recent
price
3.57
P/E
ratio
- -
div
yld
10.38%
ROIC.AI
Capital Structure
USD
•
in mil. unless spec.Working Capital
USD
•
in mil. unless spec.Growth Rates
USD
•
in mil. unless spec.Quarterly Revenue
USD
•
in mil. unless spec.Quarterly Earnings Per Share
USD
•
in mil. unless spec.Quarterly Dividends Per Share
USD
•
in mil. unless spec.- Similar Companies
- Business
- Ithaca Energy plc operates as an independent upstream oil and gas company focused on exploration, development and production activities in the UK Continental Shelf, primarily the North Sea region including Northern, Central and Southern North Sea, West of Shetland and Moray Firth areas. The company manages a portfolio of over 39 producing fields and 10 operated producing fields encompassing operated assets such as Alba, Alder, Cambo, Captain, Cook, Cygnus, Erskine and Greater Stella Area; and non-operated assets including Britannia and Satellites, Brodgar, Broom, Callanish, Dons, Elgin/Franklin, Enochdhu, J area, Mariner, Monarb, Pierce, Rosebank, Schiehallion and Seagull. Founded in 2004 and headquartered in Aberdeen, United Kingdom, Ithaca Energy serves domestic energy needs through sustainable operations targeting net zero emissions ahead of North Sea Transition Deal timelines while delivering energy security via its stakes in six of the ten largest UKCS fields and two major pre-development fields. Recent strategic developments include the completion of its transformational Business Combination with Eni UK, alongside value-accretive acquisitions such as an additional 46.25% interest in the Cygnus gas field from Spirit Energy for approximately £115 million, increasing its operated stake to 85%; a deal with Japex enhancing consolidation efforts; and a farm-in agreement with Shell UK for a 50% non-working interest in the Tobermory gas discovery licenses P2629 and P2630, building on their 50/50 joint venture in the adjacent Tornado field advancing toward financial investment decision. In 2025, the company reaffirms its production outlook with an expected year-end exit rate of approximately 145 thousand barrels of oil equivalent per day, supports ongoing organic growth through West of Shetland initiatives including Tobermory farm-in, Captain Flotel asset life extension, and Cygnus infill drilling campaigns; bolsters its balance sheet via a €450 million 2031 bond issuance and $300 million expansion of its reserves-based lending facility, achieving $1.7 billion in liquidity and 0.50x leverage; and commits to $500 million in cash dividends including a first interim payment of $167 million and accelerated $133 million dividend.
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