Ithaca Energy plc (IAE.V), an exploration and production company, on Thursday reported average production of 119,000 barrels of oil equivalent per day (boe/d) for 2025, up from 80,000 boe/d a year earlier and in line with its previously upgraded guidance range of 119,000-125,000 boe/d.
The company posted adjusted preliminary EBITDAX or earnings before income taxes, interest, depreciation, depletion, amortization, impairment, abandonment and exploration expenses of $2.0 billion, compared with $1.4 billion in 2024.
Ithaca reaffirmed its total dividend target of $500 million for 2025, with $200 million expected to be declared alongside the full-year results.
The company said it plans to release its full-year 2025 results in late March 2026.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.