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

UpdatedJan 16, 2026
DataAggregated Company Financials
Companies52
  • 7D7.7%
  • 3M1.7%
  • 1Y-3.7%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has risen 7.7%, driven by gains from Harbour Energy of 12%. Meanwhile, Rockhopper Exploration actually underperformed within the industry, shrinking 5.6% in the last week. However, the industry is down 3.7% over the past year. Looking forward, earnings are forecast to grow by 25% 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
Fri, 16 Jan 2026UK£13.6bUK£14.7b-UK£196,584,880.047x-69.3x0.9x
Sun, 14 Dec 2025UK£12.8bUK£14.7b-UK£202,847,480.698.6x-63.2x0.9x
Tue, 11 Nov 2025UK£15.9bUK£15.6b-UK£375,901,875.847.1x-42.2x1x
Thu, 09 Oct 2025UK£14.7bUK£14.9b-UK£492,821,114.368.4x-29.8x1x
Sat, 06 Sep 2025UK£14.7bUK£14.7b-UK£454,527,252.396x-32.2x1x
Mon, 04 Aug 2025UK£13.6bUK£12.0b-UK£128,442,783.569.2x-106.1x1.1x
Wed, 02 Jul 2025UK£13.1bUK£11.3b-UK£117,905,891.107.2x-111.2x1.2x
Fri, 30 May 2025UK£12.4bUK£11.5b-UK£155,985,740.888.8x-79.6x1.1x
Sun, 27 Apr 2025UK£11.6bUK£11.0bUK£11.2m7.6x1034.5x1.1x
Tue, 25 Mar 2025UK£12.3bUK£11.3b-UK£144,604,309.5610.1x-85.1x1.1x
Thu, 20 Feb 2025UK£13.4bUK£9.5bUK£314.5m8.9x42.5x1.4x
Sat, 18 Jan 2025UK£14.1bUK£10.0bUK£303.4m8.6x46.4x1.4x
Mon, 16 Dec 2024UK£12.2bUK£9.7bUK£283.7m9.6x43x1.3x
Wed, 13 Nov 2024UK£11.7bUK£9.7bUK£289.1m8.2x40.6x1.2x
Fri, 11 Oct 2024UK£11.8bUK£9.5bUK£305.4m10x38.6x1.2x
Sun, 08 Sep 2024UK£11.1bUK£9.5bUK£253.4m11x44x1.2x
Tue, 06 Aug 2024UK£9.4bUK£10.2bUK£588.8m11.4x16x0.9x
Thu, 04 Jul 2024UK£10.8bUK£10.4bUK£498.8m7.4x21.7x1x
Sat, 01 Jun 2024UK£11.9bUK£10.5bUK£607.3m12.4x19.6x1.1x
Mon, 29 Apr 2024UK£11.0bUK£11.1bUK£824.1m7.8x13.3x1x
Wed, 27 Mar 2024UK£10.5bUK£11.5bUK£452.9m6.2x23.2x0.9x
Fri, 23 Feb 2024UK£10.0bUK£12.7b-UK£521,734,993.624.3x-19.1x0.8x
Sun, 21 Jan 2024UK£10.6bUK£13.0b-UK£422,067,906.004x-25.1x0.8x
Tue, 19 Dec 2023UK£10.3bUK£13.1b-UK£422,421,751.004.1x-24.4x0.8x
Thu, 16 Nov 2023UK£10.9bUK£13.4b-UK£600,460,506.004.1x-18.1x0.8x
Sat, 14 Oct 2023UK£11.5bUK£13.5b-UK£608,585,831.004.1x-18.9x0.8x
Mon, 11 Sep 2023UK£11.8bUK£13.5b-UK£405,921,642.004.1x-29x0.9x
Wed, 09 Aug 2023UK£11.1bUK£12.7bUK£639.7m4.9x17.4x0.9x
Fri, 07 Jul 2023UK£10.4bUK£12.8bUK£817.2m4.3x12.7x0.8x
Sun, 04 Jun 2023UK£9.2bUK£12.4bUK£858.2m5.1x10.7x0.7x
Tue, 02 May 2023UK£12.2bUK£12.7bUK£2.1b5.1x5.8x1x
Thu, 30 Mar 2023UK£12.5bUK£12.5bUK£3.2b4.6x3.8x1x
Sat, 25 Feb 2023UK£11.0bUK£8.2bUK£3.3b4.7x3.3x1.3x
Mon, 23 Jan 2023UK£11.5bUK£7.9bUK£3.2b4.8x3.6x1.4x
Price to Earnings Ratio

3.6x


Total Market Cap: UK£11.5bTotal Earnings: UK£3.2bTotal Revenue: UK£7.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 33.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the British Oil and Gas Exploration and Production industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 1.0x.
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 23% 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 Market2.10%
Energy6.67%
Oil and Gas6.68%
Oil and Gas Exploration and Production7.74%
Oil and Gas Refining and Marketing7.06%
Integrated Oil and Gas6.64%
Coal and Fuels6.30%
Oil and Gas Storage and Transportation0.76%
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£2.1210.9%
+UK£340.5m		-28.0%PS0.5x
SEPL Seplat EnergyUK£3.2611.5%
+UK£201.0m		59.0%PE12.7x
ITH Ithaca EnergyUK£1.697.2%
+UK£187.8m		19.0%PS1.3x
SQZ Serica EnergyUK£2.038.8%
+UK£64.0m		31.2%PS1.9x
KIST Kistos HoldingsUK£2.1922.0%
+UK£32.7m		58.7%PS1.3x

Latest News

RKH
UK£0.70
Rockhopper Exploration
7D
-2.0%
1Y
76.8%
PANR
UK£0.07
Pantheon Resources
7D
-16.5%
1Y
-81.0%
KIST
UK£2.19
Kistos Holdings
7D
22.0%
1Y
58.7%

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
SEPL
UK£3.26
Seplat Energy
7D
11.5%
1Y
59.0%

Improved Earnings Required Before Seplat Energy Plc (LON:SEPL) Stock's 27% Jump Looks Justified

Jan 15
Improved Earnings Required Before Seplat Energy Plc (LON:SEPL) Stock's 27% Jump Looks Justified
ENQ
UK£0.12
EnQuest
7D
12.8%
1Y
-12.1%

Insufficient Growth At EnQuest PLC (LON:ENQ) Hampers Share Price

Jan 15
Insufficient Growth At EnQuest PLC (LON:ENQ) Hampers Share Price
ITH
UK£1.69
Ithaca Energy
7D
7.2%
1Y
19.0%

ITH: Premium Rating Will Rely On Execution Under Tougher U.K. Tax Regime

Analysts have trimmed their fair value estimate for Ithaca Energy to about £1.85 per share from roughly £1.93, citing the recent downgrade to Sell, the premium valuation in a tougher U.K. tax regime, relatively lower cash returns versus peers, and limited gas hedging from 2027. Analyst Commentary Recent research has put a spotlight on how Ithaca Energy is priced versus its risk profile, especially under the current U.K. tax regime and its evolving hedging strategy.
SQZ
UK£2.03
Serica Energy
7D
8.8%
1Y
31.2%

SQZ: Expanded North Sea Resources And Production Will Support Stronger Medium-Term Cash Flows

Analysts have nudged their price target on Serica Energy slightly higher to reflect an updated fair value estimate in line with revised assumptions on revenue growth, profit margins and future P/E multiples. What's in the News Reported third quarter 2025 production of 27,500 boe per day, with average net production of 25,700 boe per day for the first nine months of 2025 (company announcement of operating results).
GKP
UK£1.86
Gulf Keystone Petroleum
7D
5.9%
1Y
12.0%

GKP: Fair Value View Will Balance Softer Margins With Higher P/E Assumptions

Analysts have raised their fair value estimate for Gulf Keystone Petroleum from £1.50 to about £1.80 per share, citing updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. Valuation Changes Fair Value: The updated estimate has moved from about £1.50 to about £1.80 per share.
HBR
UK£2.12
Harbour Energy
7D
10.9%
1Y
-28.0%

HBR: Revised Expectations Will Shape Future Returns As Production Guidance Narrows

Analysts have trimmed their price target on Harbour Energy to £2.72 from £2.98, reflecting revised assumptions on long term revenue trends, margins and price-to-earnings (P/E) expectations. Analyst Commentary The latest price target move to £2.72 from £2.98 signals a more cautious stance on Harbour Energy, even as JPMorgan maintains an Overweight rating.
INDI
UK£0.016
Indus Gas
7D
-32.4%
1Y
-82.6%

Capital Allocation Trends At Indus Gas (LON:INDI) Aren't Ideal

Jan 02
Capital Allocation Trends At Indus Gas (LON:INDI) Aren't Ideal
HE1
UK£0.0044
Helium One Global
7D
-6.4%
1Y
-51.4%
BOR
UK£0.085
Borders & Southern Petroleum
7D
-11.5%
1Y
131.6%
ENOG
UK£9.26
Energean
7D
1.9%
1Y
-12.5%

ENOG: Output Recovery And Margin Improvement Will Offset Production Disruptions

Analysts have slightly reduced their price target for Energean from $9.85 to $9.81. This adjustment reflects expectations for higher revenue growth and improved profit margins, partially offset by a modestly higher discount rate and lower future price-to-earnings estimates.
CHAR
UK£0.015
Chariot
7D
-11.2%
1Y
-14.9%
AEX
UK£0.018
Aminex
7D
-1.4%
1Y
59.1%
SAVE
UK£0.076
Savannah Energy
7D
-9.3%
1Y
n/a