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

UpdatedMay 24, 2026
DataAggregated Company Financials
Companies48
  • 7D-4.9%
  • 3M21.1%
  • 1Y73.7%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 4.9%, driven by a pullback from Ithaca Energy of 14%. In contrast, Pantheon Resources has gained 18%. In the past year, the industry has gained 74%. 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
Mon, 25 May 2026UK£17.3bUK£14.2bUK£124.7m18.8x139.1x1.2x
Wed, 22 Apr 2026UK£17.2bUK£14.3b-UK£115,174,615.458.5x-149x1.2x
Fri, 20 Mar 2026UK£18.3bUK£14.4b-UK£228,369,579.236.5x-80x1.3x
Sun, 15 Feb 2026UK£15.0bUK£14.4b-UK£193,502,550.007.4x-77.4x1x
Tue, 13 Jan 2026UK£13.0bUK£14.6b-UK£195,657,385.627.2x-66.3x0.9x
Thu, 11 Dec 2025UK£12.9bUK£14.8b-UK£203,193,650.128.6x-63.7x0.9x
Sat, 08 Nov 2025UK£15.8bUK£15.6b-UK£375,737,589.257.1x-42x1x
Mon, 06 Oct 2025UK£14.7bUK£14.9b-UK£478,956,112.388.7x-30.7x1x
Wed, 03 Sep 2025UK£15.1bUK£14.8b-UK£459,631,530.846x-32.9x1x
Fri, 01 Aug 2025UK£13.9bUK£12.0b-UK£128,207,965.349.4x-108.5x1.2x
Sun, 29 Jun 2025UK£13.2bUK£11.3b-UK£97,265,264.417.2x-135.6x1.2x
Tue, 27 May 2025UK£11.8bUK£11.5b-UK£181,840,459.648.3x-64.8x1x
Thu, 24 Apr 2025UK£11.4bUK£11.0bUK£9.3m7.6x1222.9x1x
Sat, 22 Mar 2025UK£12.6bUK£11.3b-UK£144,689,628.4510.4x-87x1.1x
Mon, 17 Feb 2025UK£13.5bUK£9.5bUK£315.5m11.1x42.7x1.4x
Wed, 15 Jan 2025UK£13.6bUK£10.0bUK£303.0m8.5x44.9x1.4x
Fri, 13 Dec 2024UK£12.2bUK£9.6bUK£280.1m9.5x43.5x1.3x
Sun, 10 Nov 2024UK£11.9bUK£9.6bUK£281.6m8.3x42.2x1.2x
Tue, 08 Oct 2024UK£12.2bUK£9.5bUK£304.0m10.1x40.1x1.3x
Thu, 05 Sep 2024UK£11.6bUK£9.6bUK£213.9m10.9x54.1x1.2x
Sat, 03 Aug 2024UK£9.9bUK£10.2bUK£587.0m11.9x16.9x1x
Mon, 01 Jul 2024UK£10.7bUK£10.5bUK£468.5m7.4x22.7x1x
Wed, 29 May 2024UK£11.2bUK£10.6bUK£696.9m8.5x16.1x1.1x
Fri, 26 Apr 2024UK£10.8bUK£11.1bUK£823.3m7.9x13.1x1x
Sun, 24 Mar 2024UK£10.4bUK£11.6bUK£337.6m6.4x30.9x0.9x
Tue, 20 Feb 2024UK£10.0bUK£12.8b-UK£520,159,460.184.3x-19.3x0.8x
Thu, 18 Jan 2024UK£10.9bUK£13.0b-UK£422,985,651.004x-25.8x0.8x
Sat, 16 Dec 2023UK£10.3bUK£13.1b-UK£419,387,549.004.1x-24.6x0.8x
Mon, 13 Nov 2023UK£10.6bUK£13.6b-UK£616,650,663.004.1x-17.3x0.8x
Wed, 11 Oct 2023UK£11.5bUK£13.4b-UK£597,022,357.004.4x-19.3x0.9x
Fri, 08 Sep 2023UK£11.6bUK£13.2b-UK£366,163,984.004.1x-31.8x0.9x
Sun, 06 Aug 2023UK£11.2bUK£12.6bUK£639.1m4.9x17.5x0.9x
Tue, 04 Jul 2023UK£10.7bUK£12.8bUK£853.4m4.6x12.6x0.8x
Thu, 01 Jun 2023UK£9.0bUK£12.5bUK£1.3b4.9x6.7x0.7x
Price to Earnings Ratio

6.7x


Total Market Cap: UK£9.0bTotal Earnings: UK£1.3bTotal Revenue: UK£12.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 19.8x202420252026
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 139x which is higher than its 3-year average PE of 19.7x.
  • 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 55% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.4% 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 Market2.49%
Energy-0.11%
Oil and Gas-0.10%
Oil and Gas Exploration and Production-4.92%
Oil and Gas Refining and Marketing4.34%
Integrated Oil and Gas0.16%
Oil and Gas Storage and Transportation0%0
Coal and Fuels-0.45%
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£0.1714.5%
+UK£30.6m		-32.9%PB0.9x
SEPL Seplat EnergyUK£5.790.5%
+UK£18.0m		191.0%PE26.9x
JSE Jadestone EnergyUK£0.334.1%
+UK£7.1m		66.1%PS0.6x
BLOE Block EnergyUK£0.0112.4%
+UK£4.0m		4.9%PS2.8x
STAR Star Energy GroupUK£0.179.7%
+UK£2.9m		153.4%PS0.9x

Latest News

SEPL
UK£5.79
Seplat Energy
7D
0.5%
1Y
191.0%
ENOG
UK£8.47
Energean
7D
-4.5%
1Y
-1.5%
ITH
UK£2.44
Ithaca Energy
7D
-14.3%
1Y
87.8%
SEA
UK£0.95
Seascape Energy Asia
7D
4.4%
1Y
206.5%
SQZ
UK£2.65
Serica Energy
7D
-4.8%
1Y
84.6%
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.
JSE
UK£0.33
Jadestone Energy
7D
4.1%
1Y
66.1%
BLOE
UK£0.011
Block Energy
7D
2.4%
1Y
4.9%
GKP
UK£1.87
Gulf Keystone Petroleum
7D
-2.1%
1Y
23.2%
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).
KIST
UK£2.85
Kistos Holdings
7D
-5.0%
1Y
101.4%
STAR
UK£0.17
Star Energy Group
7D
9.7%
1Y
153.4%
AEX
UK£0.024
Aminex
7D
2.2%
1Y
95.8%
HBR
UK£2.84
Harbour Energy
7D
-6.1%
1Y
65.0%
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.
TLW
UK£0.17
Tullow Oil
7D
-3.4%
1Y
26.7%
Narrative Update • May 02

TLW: Future Cash Flows Will Be Pressured By Lower Production Volumes

Analysts now set a revised price target of £0.13 for Tullow Oil, compared with the previous fair value estimate of £0.12, reflecting updated assumptions around revenue growth, margins and a higher future P/E multiple, informed by recent Street research including the new £0.35 price target from Barclays and the upgrade at Jefferies. Analyst Commentary Recent Street research gives you a mixed but clearer picture of how professionals are thinking about Tullow Oil, with one major bank trimming its formal price target while another house has moved to a more constructive stance on the shares.
ZEN
UK£0.064
Zenith Energy
7D
6.3%
1Y
-46.8%
RKH
UK£0.78
Rockhopper Exploration
7D
-2.0%
1Y
44.6%
PANR
UK£0.17
Pantheon Resources
7D
14.5%
1Y
-32.9%