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

UpdatedMay 27, 2026
DataAggregated Company Financials
Companies48
  • 7D-7.3%
  • 3M16.5%
  • 1Y66.3%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 6.7%, driven by Ithaca Energy declining 16%. Meanwhile, Pantheon Resources actually outperformed within the industry, gaining 20% in the last week. This takes the industry's 12 month performance to a gain of 73%. As for the next few years, earnings are expected to grow by 14% per annum.

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
Wed, 27 May 2026UK£17.2bUK£14.2bUK£118.2m19.3x145.2x1.2x
Fri, 24 Apr 2026UK£17.9bUK£14.4b-UK£115,257,325.148.3x-155.1x1.2x
Sun, 22 Mar 2026UK£17.5bUK£14.5b-UK£203,267,162.346.5x-86x1.2x
Tue, 17 Feb 2026UK£15.1bUK£14.5b-UK£193,819,372.537.4x-77.7x1x
Thu, 15 Jan 2026UK£13.8bUK£14.6b-UK£195,887,266.667.1x-70.6x0.9x
Sat, 13 Dec 2025UK£12.8bUK£14.8b-UK£203,066,062.188.6x-63.1x0.9x
Mon, 10 Nov 2025UK£15.8bUK£15.6b-UK£375,718,359.347.1x-42x1x
Wed, 08 Oct 2025UK£14.8bUK£14.9b-UK£490,292,453.678.9x-30.1x1x
Fri, 05 Sep 2025UK£14.9bUK£14.8b-UK£457,848,759.226x-32.4x1x
Sun, 03 Aug 2025UK£13.6bUK£12.0b-UK£128,442,783.569.2x-106.1x1.1x
Tue, 01 Jul 2025UK£13.1bUK£11.3b-UK£117,905,891.107.2x-111.2x1.2x
Thu, 29 May 2025UK£12.4bUK£11.5b-UK£181,261,585.378.6x-68.4x1.1x
Sat, 26 Apr 2025UK£11.6bUK£11.0bUK£11.2m7.6x1034.4x1.1x
Mon, 24 Mar 2025UK£12.6bUK£11.3b-UK£144,689,628.4510.4x-87x1.1x
Wed, 19 Feb 2025UK£13.4bUK£9.5bUK£314.5m8.9x42.5x1.4x
Fri, 17 Jan 2025UK£14.0bUK£10.0bUK£300.7m8.7x46.5x1.4x
Sun, 15 Dec 2024UK£12.2bUK£9.7bUK£283.7m9.6x43x1.3x
Tue, 12 Nov 2024UK£12.0bUK£9.7bUK£284.1m8.4x42.2x1.2x
Thu, 10 Oct 2024UK£11.8bUK£9.5bUK£305.0m10x38.5x1.2x
Sat, 07 Sep 2024UK£11.1bUK£9.5bUK£253.4m11x44x1.2x
Mon, 05 Aug 2024UK£9.9bUK£10.2bUK£587.0m11.9x16.9x1x
Wed, 03 Jul 2024UK£10.7bUK£10.5bUK£502.1m7.4x21.3x1x
Fri, 31 May 2024UK£11.7bUK£10.5bUK£607.6m12.4x19.2x1.1x
Sun, 28 Apr 2024UK£11.0bUK£11.1bUK£824.1m7.8x13.3x1x
Tue, 26 Mar 2024UK£10.5bUK£11.6bUK£337.0m6.3x31.2x0.9x
Thu, 22 Feb 2024UK£10.0bUK£12.7b-UK£523,318,983.284x-19x0.8x
Sat, 20 Jan 2024UK£10.6bUK£13.0b-UK£422,067,906.004x-25.1x0.8x
Mon, 18 Dec 2023UK£10.3bUK£13.1b-UK£419,856,371.004.1x-24.6x0.8x
Wed, 15 Nov 2023UK£10.8bUK£13.3b-UK£597,818,672.004.1x-18.1x0.8x
Fri, 13 Oct 2023UK£11.4bUK£13.5b-UK£604,848,841.004.1x-18.9x0.8x
Sun, 10 Sep 2023UK£11.8bUK£13.5b-UK£405,921,642.004.1x-29x0.9x
Tue, 08 Aug 2023UK£11.2bUK£12.6bUK£638.4m4.9x17.6x0.9x
Thu, 06 Jul 2023UK£10.6bUK£12.9bUK£817.8m4.5x13x0.8x
Sat, 03 Jun 2023UK£9.2bUK£12.4bUK£857.3m5.1x10.7x0.7x
Price to Earnings Ratio

10.7x


Total Market Cap: UK£9.2bTotal Earnings: UK£857.3mTotal Revenue: UK£12.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 20.1x202420252026
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 industry is trading at a PE ratio of 138x which is higher than its 3-year average PE of 19.9x.
  • The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 47% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.8% 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 Market1.80%
Energy-3.94%
Oil and Gas-3.95%
Oil and Gas Exploration and Production-7.33%
Coal and Fuels2.10%
Oil and Gas Storage and Transportation0%0
Oil and Gas Refining and Marketing-0.019%
Integrated Oil and Gas-4.13%
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
PANR Pantheon ResourcesUK£0.1820.1%
+UK£45.2m		-32.1%PB1x
JSE Jadestone EnergyUK£0.345.6%
+UK£9.8m		71.1%PS0.6x
RKH Rockhopper ExplorationUK£0.801.4%
+UK£9.4m		42.3%PE19.9x
CNE Capricorn EnergyUK£3.333.7%
+UK£8.2m		46.4%PE18.6x
ENQ EnQuestUK£0.201.6%
+UK£6.0m		67.8%PE317.3x

Latest News

ITH
UK£2.40
Ithaca Energy
7D
-15.8%
1Y
79.4%
TLW
UK£0.16
Tullow Oil
7D
-6.1%
1Y
21.1%
Narrative Update • May 26

TLW: Weaker Margins And Output Trends Will Restrain Future Share Upside

Analysts have trimmed their fair value estimate for Tullow Oil slightly to £0.0101 from £0.0102, reflecting updated assumptions around revenue trends, profit margins and future P/E expectations, alongside a modestly higher discount rate. What's in the News Tullow Oil reported Group working interest oil and gas production of 40.4 kboepd for the year ended 31 December 2025, alongside prior year production of 51.5 kboepd.
SEPL
UK£5.67
Seplat Energy
7D
-4.9%
1Y
177.9%
ENOG
UK£8.38
Energean
7D
-5.5%
1Y
-4.8%
SEA
UK£0.95
Seascape Energy Asia
7D
6.1%
1Y
196.9%
CNE
UK£3.33
Capricorn Energy
7D
3.7%
1Y
46.4%
SQZ
UK£2.64
Serica Energy
7D
-7.8%
1Y
77.4%
Narrative Update • May 20

SQZ: Medium Term Cash Flows And Asset Additions Will Support Balanced Returns

Analysts have lifted their price target on Serica Energy to £3.00 from £2.50, citing expectations for material free cash flow in 2026 and 2027 and adjusting assumptions around fair value, discount rate, profit margin and future P/E to reflect this outlook. Analyst Commentary Bullish Takeaways Bullish analysts highlight the reiterated £3.00 price target as consistent with expectations for "material" free cash flow in 2026 and 2027, which they see as supportive of current valuation assumptions.
EOG
UK£0.016
Europa Oil & Gas (Holdings)
7D
12.5%
1Y
152.0%
JSE
UK£0.34
Jadestone Energy
7D
5.6%
1Y
71.1%
GKP
UK£1.87
Gulf Keystone Petroleum
7D
-2.0%
1Y
20.5%
Narrative Update • May 19

GKP: Interim Dividend And Stable Outlook Will Support Future Rerating

Analysts have kept their fair value estimate for Gulf Keystone Petroleum steady at £2.81 per share, citing only small model tweaks to the discount rate, revenue growth and future P/E assumptions rather than a change in their core view of the stock. What's in the News Declared a US$12.5 million interim dividend tied to its 2025 full year results, equal to US$0.0575 per common share, approved on 18 March 2026 with payment scheduled for 27 April 2026 (company announcement).
ENQ
UK£0.20
EnQuest
7D
1.6%
1Y
67.8%
Narrative Update • May 18

ENQ: Persistent Geopolitical Risk Premium Will Support Cash Flow And Margin Strength

EnQuest's analyst price target has shifted within a tight £0.01 range, as analysts factor in a slightly higher discount rate, more conservative revenue growth assumptions, and a modestly stronger profit margin outlook following recent rating and target changes related to the evolving geopolitical risk premium in oil and gas prices. Analyst Commentary Recent research updates around EnQuest have centered on how the evolving geopolitical risk premium in oil and gas prices feeds into valuation assumptions, with JPMorgan and other bullish analysts refining their views on discount rates, revenue profiles, and margin potential.
KIST
UK£2.76
Kistos Holdings
7D
-4.8%
1Y
91.7%
HBR
UK£2.79
Harbour Energy
7D
-7.1%
1Y
57.8%
Narrative Update • May 05

HBR: Weaker Revenue And Margin Outlook Will Pressure Future Share Returns

Harbour Energy's analyst price target has moved higher to reflect raised targets from several banks, including recent increases of £0.30 and £0.40. Analysts are balancing lower discount rate assumptions and a higher future P/E with more cautious views on revenue growth and profit margins.
ZEN
UK£0.065
Zenith Energy
7D
8.3%
1Y
-58.1%
RKH
UK£0.80
Rockhopper Exploration
7D
1.4%
1Y
42.3%
PANR
UK£0.18
Pantheon Resources
7D
20.1%
1Y
-32.1%