Ithaca Energy raises 2026 dividend forecast after record Q2 production By Investing.com

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Ithaca Energy raised its 2026 dividend forecast to $500-530 million, up from $470-520 million, after reporting record second-quarter production of 131,000 barrels of oil equivalent per day. The North Sea oil and gas producer declared a first interim dividend of $255 million, payable in September, while reaffirming full-year production guidance of 120,000-130,000 boed . Adjusted first-half EBITDAX reached $1.12 billion, and net debt fell to $1.02 billion with leverage at 0.49 times. Available liquidity increased to $1.9 billion following a bond tap placement . The company lowered its operating expense guidance by $20 million to $800-840 million . Executive chairman Yaniv Friedman cited "record quarterly production, continued safe and efficient operations, robust cash generation and disciplined capital allocation" for the improved outlook . The company remains "actively but patiently" pursuing M&A opportunities in the UKCS and internationally while advancing the Rosebank project toward first oil in H1 2027 and Cambo toward a 2027 sanction decision .

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Left: May emphasise UK windfall tax impact and North Sea emissions concerns. Center: Reports financial performance neutrally with verified production and dividend figures. Right: Highlights shareholder returns and criticises UK government energy policy uncertainty. Final freshness search conducted: 2026-08-19. No newer material development was located during the final freshness search