Ithaca Energy PLC (GB:ITH) has released an update.
Ithaca Energy PLC reported its Q1 2024 results with adjusted EBITDAX at $339.0 million and a net income of $42.7 million, reflecting a strong operational performance in line with expectations. The company highlighted its strategic business combination with Eni UK, which is set to create a leading player in the UK’s energy sector with prospects for significant growth in production. Moreover, Ithaca Energy emphasized its ongoing projects such as the EOR Phase II project and Rosebank development, both of which are poised to bolster long-term production capabilities.
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