Ithaca Energy PLC (LSE:ITH) reported a solid financial and operational performance for the first nine months of 2025, driven by higher production levels and improved cost efficiency following the integration of Eni UK’s assets. Management reaffirmed full-year guidance and dividend commitments, highlighting continued emphasis on organic growth and disciplined, high-return investment—particularly across its expanding West of Shetland portfolio. These results reinforce Ithaca’s focus on boosting shareholder value and sustaining its role as a leading operator in the UK North Sea.
The company also announced a farm-in agreement with Shell UK, securing a 50% stake in the Tobermory gas discovery in the West of Shetland basin. This move further strengthens Ithaca’s strategic footprint in the region, supports UK energy security, and deepens its partnership with Shell. The deal aligns closely with the company’s longer-term ambitions, contributing to economic activity, job creation, and greater utilisation of its operational capabilities.
Ithaca’s outlook is underpinned by strong revenue momentum and efficient operations, though profitability remains challenged. Technical indicators point to bullish momentum, but elevated readings suggest potential overbought conditions. A high dividend yield adds appeal, while the negative P/E ratio highlights ongoing earnings pressures.
More about Ithaca Energy PLC
Ithaca Energy PLC is a major UK North Sea oil and gas producer focused on operational excellence, strategic expansion, and delivering value to shareholders. The company’s portfolio spans key producing assets and development opportunities, with a growing emphasis on the high-potential West of Shetland region.
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