By Elena Vardon
Ithaca Energy PLC said Thursday that production rose in 2022 and fourth-quarter costs were within the guided ranges, as it proposed an interim dividend for 2023.
The oil-and-gas company said it produced 71,400 barrels of oil equivalent a day in the year ended Dec. 31, up from 56,500 boe a day in 2021. In the fourth quarter, estimated average production was of 80,800 boe a day, ahead of the 77,000 boe a day to 80,000 boe a day range guided by management.
Estimated net operating expense in the three-month period was $137 million, within the $130 million to $150 million guided range, while net capital expenditure was $119 million, in line with the expected $100 million-$120 million range, it said.
The group, which listed on the London Stock Exchange in November, declared an initial interim dividend of $0.1321 a share, which will be followed by two more dividend payments relating to 2023 over the year.
Shares at 1239 GMT edged up 0.5% at 186.4 pence.
Write to Elena Vardon at firstname.lastname@example.org