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Home Energy Ithaca Energy 2022 Production Rose; Proposes Interim Dividend

Ithaca Energy 2022 Production Rose; Proposes Interim Dividend


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 elena.vardon@wsj.com

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