Ithaca Energy PLC ( (GB:ITH) ) has issued an update.
Ithaca Energy PLC reported a transformational year in 2024, highlighted by a significant business combination with Eni UK, which positioned it as the largest resource holder in the UKCS. The company achieved robust operational and financial performance, with strong production levels and a total dividend payout of $500 million. The acquisition of JAPEX UK E&P Limited further solidifies its growth strategy, increasing its stake in the Seagull field. Ithaca Energy also completed a successful refinancing, ensuring over $1 billion in liquidity, and made progress on key projects like Rosebank and Captain, while maintaining a strong safety record.
More about Ithaca Energy PLC
Ithaca Energy PLC is a leading independent oil and gas production and growth company in the UK, focusing on the UK Continental Shelf (UKCS). The company is involved in the exploration, development, and production of oil and gas resources, and has recently expanded its operations through a business combination with Eni S.p.A’s UK upstream assets.
YTD Price Performance: 28.80%
Average Trading Volume: 1,313,939
Technical Sentiment Signal: Strong Sell
Current Market Cap: £2.35B
For an in-depth examination of ITH stock, go to TipRanks’ Stock Analysis page.