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An announcement from Ithaca Energy PLC ( (GB:ITH) ) is now available.
Ithaca Energy has reported a strong performance for the fiscal year 2024, achieving production and financial results at the top end of market guidance. The company’s recent business combination with Eni UK has been transformational, enhancing its production capabilities and financial strength. With significant operational achievements, including high production rates and strict cost control, Ithaca Energy has seen improved safety records and reduced emissions. The company has also successfully refinanced $2.25 billion, increasing its financial flexibility, and paid a substantial dividend to shareholders. The ongoing progress in the Rosebank project further underscores its commitment to growth and supporting UK energy security.
More about Ithaca Energy PLC
Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea. The company has a strong track record of material value creation, expanding its portfolio through organic investments and acquisitions, including a significant business combination with Eni UK. Ithaca Energy is now one of the largest independent oil and gas companies in the United Kingdom Continental Shelf, ranking second by production and holding the largest resource base.
YTD Price Performance: 18.84%
Average Trading Volume: 1,516,881
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £2.15B
For a thorough assessment of ITH stock, go to TipRanks’ Stock Analysis page.
