Company summary
Ithaca Energy is a major independent oil and gas producer focused on the UK North Sea. Its enlarged portfolio includes operated and non-operated fields alongside the large Rosebank development and a pipeline of future projects.
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ITH
Ithaca Energy
Oil & Gas Producers
- Index
- FTSE 250
- ISIN
- Not specified
- Book status
- 2026 edition — current
Key activities
Offshore oil and gas production, field development, drilling, exploration, asset acquisitions, decommissioning and investment in major North Sea projects including Rosebank.
Key markets
The UK Continental Shelf, selling oil and gas into UK and international energy markets.
Key drivers
Oil and gas prices, production volumes, field uptime, Rosebank progress, new project sanctions, operating costs, acquisitions, hedging and shareholder distributions.
Key risks
Commodity-price volatility, North Sea taxation, offshore operational risk, project delays and overruns, decommissioning costs, environmental and political pressure and regulatory uncertainty.
Recent Developments
20 May 2026: Q1 production averaged 126 thousand barrels of oil equivalent per day and adjusted EBITDAX was $571m. Management reaffirmed 120-130 kboe/d production guidance and said the 2026 dividend was trending above $500m.
Dividend notes
The 2026 policy targets 30% of post-tax cash flow from operations, with guidance of $470m-$520m and current expectations above $500m. A $200m third interim dividend for 2025 was paid in April 2026, completing $500m of 2025 distributions.
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