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U.K. (FTSE) Oil and Gas Exploration and Production Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies52
  • 7D4.4%
  • 3M24.7%
  • 1Y23.6%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has risen 4.4%, driven by gains from Harbour Energy of 10%. This takes the industry's 12 month performance to a gain of 24%. Looking forward, earnings are forecast to grow by 38% annually.

Industry Valuation and Performance

Has the U.K. Oil and Gas Exploration and Production Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026UK£16.8bUK£14.7b-UK£230,175,502.537x-73x1.1x
Wed, 28 Jan 2026UK£13.9bUK£14.3b-UK£192,079,064.727.7x-72.4x1x
Fri, 26 Dec 2025UK£12.6bUK£14.6b-UK£200,012,328.027.3x-62.8x0.9x
Sun, 23 Nov 2025UK£14.9bUK£15.9b-UK£321,141,449.587.1x-46.3x0.9x
Tue, 21 Oct 2025UK£14.1bUK£14.9b-UK£490,043,646.127.9x-28.7x0.9x
Thu, 18 Sep 2025UK£14.3bUK£14.5b-UK£437,409,080.548.3x-32.7x1x
Sat, 16 Aug 2025UK£14.5bUK£14.4b-UK£443,401,944.718.8x-32.7x1x
Mon, 14 Jul 2025UK£13.6bUK£11.5b-UK£118,108,305.017.6x-115.2x1.2x
Wed, 11 Jun 2025UK£13.1bUK£11.5b-UK£118,593,880.147x-110.1x1.1x
Fri, 09 May 2025UK£11.9bUK£11.5bUK£12.3m8.1x966.2x1x
Sun, 06 Apr 2025UK£11.7bUK£11.4bUK£14.0m7.8x834.2x1x
Tue, 04 Mar 2025UK£13.2bUK£9.4bUK£304.2m9.9x43.5x1.4x
Thu, 30 Jan 2025UK£12.3bUK£9.6bUK£311.4m8.5x39.4x1.3x
Sat, 28 Dec 2024UK£12.2bUK£9.7bUK£284.6m8.6x42.8x1.3x
Mon, 25 Nov 2024UK£12.7bUK£9.9bUK£298.6m8.9x42.4x1.3x
Wed, 23 Oct 2024UK£11.9bUK£9.6bUK£309.0m9.3x38.5x1.2x
Fri, 20 Sep 2024UK£10.9bUK£9.4bUK£409.9m8.4x26.6x1.2x
Sun, 18 Aug 2024UK£9.9bUK£9.9bUK£166.7m10.4x59.5x1x
Tue, 16 Jul 2024UK£10.6bUK£10.1bUK£548.6m9.4x19.3x1x
Thu, 13 Jun 2024UK£11.1bUK£10.4bUK£601.2m9.4x18.5x1.1x
Sat, 11 May 2024UK£11.1bUK£10.9bUK£767.5m8.7x14.4x1x
Mon, 08 Apr 2024UK£10.5bUK£11.2bUK£911.5m6.9x11.5x0.9x
Wed, 06 Mar 2024UK£10.2bUK£12.6b-UK£475,335,436.393.6x-21.5x0.8x
Fri, 02 Feb 2024UK£10.5bUK£12.9b-UK£419,940,794.004x-25x0.8x
Sun, 31 Dec 2023UK£11.4bUK£12.9b-UK£419,808,130.004x-27.1x0.9x
Tue, 28 Nov 2023UK£10.8bUK£13.1b-UK£421,016,159.004.1x-25.7x0.8x
Thu, 26 Oct 2023UK£10.9bUK£13.5b-UK£611,232,665.004.1x-17.9x0.8x
Sat, 23 Sep 2023UK£12.0bUK£13.5b-UK£511,898,538.004x-23.4x0.9x
Mon, 21 Aug 2023UK£10.7bUK£12.7bUK£638.3m4.6x16.8x0.8x
Wed, 19 Jul 2023UK£10.5bUK£12.6bUK£812.1m4.6x12.9x0.8x
Fri, 16 Jun 2023UK£9.3bUK£12.2bUK£837.9m5.1x11.2x0.8x
Sun, 14 May 2023UK£11.9bUK£12.8bUK£1.3b5.4x9.3x0.9x
Tue, 11 Apr 2023UK£13.0bUK£12.7bUK£2.1b5.2x6.1x1x
Thu, 09 Mar 2023UK£10.9bUK£8.3bUK£3.3b4.5x3.4x1.3x
Price to Earnings Ratio

3.4x


Total Market Cap: UK£10.9bTotal Earnings: UK£3.3bTotal Revenue: UK£8.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 30.5x202420252026
Current Industry PE
  • Investors are optimistic on the British Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • Total earnings for the Oil and Gas Exploration and Production industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 21% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does U.K. Oil and Gas Exploration and Production compare with similar industries?

GB Market1.95%
Energy2.98%
Oil and Gas3.00%
Oil and Gas Exploration and Production4.41%
Oil and Gas Refining and Marketing11.39%
Integrated Oil and Gas3.21%
Oil and Gas Storage and Transportation1.81%
Coal and Fuels-1.13%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
HBR Harbour EnergyUK£2.7218.3%
+UK£765.2m		19.6%PS0.7x
ITH Ithaca EnergyUK£2.3414.1%
+UK£477.7m		67.6%PS1.8x
SQZ Serica EnergyUK£2.6113.7%
+UK£123.0m		104.4%PS2.4x
ENQ EnQuestUK£0.1813.7%
+UK£39.8m		48.2%PS0.4x
TLW Tullow OilUK£0.1325.3%
+UK£38.1m		-19.8%PS0.2x

Latest News

SEPL
UK£4.30
Seplat Energy
7D
1.1%
1Y
123.1%
JSE
UK£0.23
Jadestone Energy
7D
-6.1%
1Y
-15.1%
ENQ
UK£0.18
EnQuest
7D
13.7%
1Y
48.2%
ITH
UK£2.34
Ithaca Energy
7D
14.1%
1Y
67.6%

ITH: Reset Expectations And Balanced Risk Reward Will Support Future Cash Generation

Ithaca Energy's analyst price target has been trimmed by £0.10 to £1.70 per share, as analysts now see a more balanced risk and reward profile after the recent share price underperformance and modest tweaks to fair value, revenue growth assumptions, profit margin expectations and future P/E. Analyst Commentary Recent Street research on Ithaca Energy points to a more balanced view, with some bullish analysts seeing the current share price as better aligned with their assessment of value.
SQZ
UK£2.61
Serica Energy
7D
13.7%
1Y
104.4%

SQZ: Future Returns Will Be Anchored By Higher 2026 Production Volumes

Analysts have trimmed their fair value estimate for Serica Energy from £3.16 to £3.11, citing updated assumptions around revenue growth, profit margins, and a slightly higher discount rate that also contribute to a lower future P/E expectation. What's in the News Reported fourth quarter 2025 production of 33,500 boepd, with full year 2025 average production of 27,600 boepd compared with 34,600 boepd a year earlier (company announcement of operating results).
HBR
UK£2.72
Harbour Energy
7D
18.3%
1Y
19.6%

HBR: Higher Output Guidance Will Support Cash Flows Despite Sector Caution

Analysts have nudged their Harbour Energy price targets higher to reflect an updated fair value estimate of £2.77 per share. This is supported by slightly softer assumed revenue declines and a modestly lower discount rate, even as expectations for profit margins have been trimmed and the future P/E left broadly unchanged.
GKP
UK£1.96
Gulf Keystone Petroleum
7D
-6.0%
1Y
4.9%

GKP: Follow-On Equity Offering And Production Outlook Will Shape Fairly Balanced Prospects

Analysts have increased their price target on Gulf Keystone Petroleum from £2.14 to £2.27, citing updated assumptions around fair value, discount rate, revenue, profit margins and future P/E. What's in the News Gulf Keystone Petroleum completed a follow-on equity offering of NOK 11.325432 million, issuing 512,463 common shares at NOK 22.1 with a new market listing feature.
TLW
UK£0.13
Tullow Oil
7D
25.3%
1Y
-19.8%

TLW: Jefferies Upgrade And Execution Progress Will Support Repriced Cash Flow Potential

Analysts have trimmed their fair value estimate for Tullow Oil from about £0.41 to £0.40, reflecting updated assumptions on discount rates, revenue trends, margins and future P/E multiples following recent research including the Jefferies upgrade. Analyst Commentary Recent research indicates that some bullish analysts see the latest fair value tweak as a fine tuning exercise rather than a major shift in the investment case.
HE1
UK£0.0054
Helium One Global
7D
-18.3%
1Y
-48.3%
CASP
UK£0.022
Caspian Sunrise
7D
-2.2%
1Y
-27.4%
BOR
UK£0.097
Borders & Southern Petroleum
7D
-2.0%
1Y
80.5%
SNDA
UK£0.0003
Sunda Energy
7D
-14.3%
1Y
-50.0%
RKH
UK£0.74
Rockhopper Exploration
7D
4.8%
1Y
100.0%
KIST
UK£2.54
Kistos Holdings
7D
7.6%
1Y
105.7%

Kistos Holdings Plc (LON:KIST) Screens Well But There Might Be A Catch

Jan 15
Kistos Holdings Plc (LON:KIST) Screens Well But There Might Be A Catch
SOU
UK£0.06
Sound Energy
7D
-17.2%
1Y
-20.0%

Sound Energy (LON:SOU) Has Debt But No Earnings; Should You Worry?

Dec 09
Sound Energy (LON:SOU) Has Debt But No Earnings; Should You Worry?
SAVE
UK£0.095
Savannah Energy
7D
-4.0%
1Y
n/a