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

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies50
  • 7D1.2%
  • 3M48.7%
  • 1Y67.9%
  • YTDn/a

In the last week, the Oil and Gas Exploration and Production industry is up 1.2%, with Rockhopper Exploration leading the way, up 20%. This means that the industry has gained 68% over the past year. As for the next few years, earnings are expected to grow by 20% 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
Sun, 05 Apr 2026UK£17.2bUK£14.6b-UK£120,086,530.887.6x-143.2x1.2x
Tue, 03 Mar 2026UK£16.8bUK£14.7b-UK£230,175,502.537x-73x1.1x
Thu, 29 Jan 2026UK£14.1bUK£14.3b-UK£192,041,671.747.7x-73.5x1x
Sat, 27 Dec 2025UK£12.6bUK£14.6b-UK£200,456,981.777.3x-62.6x0.9x
Mon, 24 Nov 2025UK£14.9bUK£15.9b-UK£321,141,449.587.1x-46.3x0.9x
Wed, 22 Oct 2025UK£14.1bUK£14.9b-UK£490,757,166.327.5x-28.6x0.9x
Fri, 19 Sep 2025UK£14.4bUK£14.6b-UK£439,062,839.688.3x-32.8x1x
Sun, 17 Aug 2025UK£14.5bUK£14.3b-UK£434,138,690.318.8x-33.3x1x
Tue, 15 Jul 2025UK£13.6bUK£11.6b-UK£117,839,295.867.5x-115.4x1.2x
Thu, 12 Jun 2025UK£13.0bUK£11.5b-UK£118,839,237.307x-109.3x1.1x
Sat, 10 May 2025UK£12.1bUK£11.5bUK£33.0m8.4x366.9x1.1x
Mon, 07 Apr 2025UK£11.7bUK£11.4bUK£14.0m7.8x834.2x1x
Wed, 05 Mar 2025UK£12.7bUK£9.4bUK£303.7m9.9x41.7x1.3x
Fri, 31 Jan 2025UK£12.3bUK£9.6bUK£310.6m8.4x39.4x1.3x
Sun, 29 Dec 2024UK£12.2bUK£9.7bUK£284.3m8.6x42.8x1.3x
Tue, 26 Nov 2024UK£12.6bUK£9.9bUK£297.5m9.2x42.5x1.3x
Thu, 24 Oct 2024UK£11.9bUK£9.6bUK£311.0m9.3x38.3x1.2x
Sat, 21 Sep 2024UK£10.6bUK£9.4bUK£459.2m8.2x23.1x1.1x
Mon, 19 Aug 2024UK£9.9bUK£9.9bUK£166.7m10.4x59.5x1x
Wed, 17 Jul 2024UK£10.4bUK£10.1bUK£548.8m9.3x19x1x
Fri, 14 Jun 2024UK£11.1bUK£10.4bUK£602.8m9.2x18.5x1.1x
Sun, 12 May 2024UK£11.1bUK£10.9bUK£767.6m8.7x14.4x1x
Tue, 09 Apr 2024UK£10.6bUK£11.2bUK£910.4m7.1x11.7x1x
Thu, 07 Mar 2024UK£10.3bUK£12.6b-UK£473,926,206.563.5x-21.7x0.8x
Sat, 03 Feb 2024UK£10.4bUK£13.0b-UK£424,970,202.004x-24.6x0.8x
Mon, 01 Jan 2024UK£11.4bUK£12.9b-UK£419,808,130.004x-27.1x0.9x
Wed, 29 Nov 2023UK£10.8bUK£13.0b-UK£415,524,467.004.1x-25.9x0.8x
Fri, 27 Oct 2023UK£10.9bUK£13.5b-UK£613,954,513.004.1x-17.7x0.8x
Sun, 24 Sep 2023UK£12.0bUK£13.5b-UK£511,385,607.004x-23.5x0.9x
Tue, 22 Aug 2023UK£10.7bUK£12.7bUK£638.1m4.6x16.8x0.8x
Thu, 20 Jul 2023UK£10.8bUK£12.7bUK£818.9m4.5x13.2x0.9x
Sat, 17 Jun 2023UK£9.3bUK£12.1bUK£835.4m5.1x11.2x0.8x
Mon, 15 May 2023UK£11.9bUK£12.8bUK£1.3b5.4x9.3x0.9x
Wed, 12 Apr 2023UK£13.0bUK£12.7bUK£2.1b4.7x6.1x1x
Price to Earnings Ratio

6.1x


Total Market Cap: UK£13.0bTotal Earnings: UK£2.1bTotal Revenue: UK£12.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 26.9x202420252026
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 1.2x.
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 4.7% 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 Market4.54%
Energy1.56%
Oil and Gas1.56%
Oil and Gas Exploration and Production1.24%
Oil and Gas Refining and Marketing4.46%
Integrated Oil and Gas1.59%
Coal and Fuels0.61%
Oil and Gas Storage and Transportation-0.38%
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
RKH Rockhopper ExplorationUK£0.9019.8%
+UK£126.8m		127.4%PE21.8x
ITH Ithaca EnergyUK£2.542.6%
+UK£107.3m		91.3%PS1.9x
CNE Capricorn EnergyUK£3.3019.8%
+UK£37.4m		49.0%PE18.1x
SEPL Seplat EnergyUK£4.881.1%
+UK£33.0m		186.8%PE24.1x
SQZ Serica EnergyUK£2.781.3%
+UK£13.7m		123.4%PS2.4x

Latest News

SQZ
UK£2.78
Serica Energy
7D
1.3%
1Y
123.4%

SQZ: High 2026 Free Cash Flow Expectations Will Likely Prove Overly Optimistic

Analysts have lifted their fair value estimate for Serica Energy to £2.50 from £1.89, pointing to updated assumptions on revenue growth, profit margins and a higher future P/E. This is supported by recent research citing expectations for "material" free cash flow in 2026 and 2027.
TLW
UK£0.13
Tullow Oil
7D
4.7%
1Y
-5.4%

TLW: Lowered Price Assumptions Will Constrain Returns Despite Ghana Contract Extensions

Analysts have trimmed their price target on Tullow Oil to £0.35 from £0.50, reflecting updated views on revenue trends, profitability and future P/E expectations following recent research moves that included a downgrade in target at one firm and an upgrade at another. Analyst Commentary Recent research signals a more cautious tone around Tullow Oil, with the latest move being a cut in the price target to £0.35 from £0.50.
ENQ
UK£0.20
EnQuest
7D
1.5%
1Y
42.4%

ENQ: Persistent Geopolitical Premium Dependence Will Likely Constrain Future Risk Reward

Analysts have raised EnQuest's fair value estimate from £0.11 to £0.15 per share, reflecting a revised £25 price target. They also note that a persistent geopolitical risk premium in oil markets supports a modestly higher P/E and slightly stronger margins than previously assumed.
GKP
UK£2.03
Gulf Keystone Petroleum
7D
-3.3%
1Y
29.0%

GKP: Higher Production Guidance And Dividend Stream Will Support Future Rerating

Analysts have nudged their price target for Gulf Keystone Petroleum slightly higher to £2.81 from £2.79, reflecting updated assumptions on revenue growth, profit margins and a modestly lower future P/E multiple in their models. What's in the News Gulf Keystone Petroleum declared a $12.5 million interim dividend in connection with its 2025 full year results, equal to $0.0575 per common share, with approval on 18 March 2026 and payment scheduled for 27 April 2026 (company announcement).
CNE
UK£3.30
Capricorn Energy
7D
19.8%
1Y
49.0%
HBR
UK£2.87
Harbour Energy
7D
-1.7%
1Y
65.3%
JSE
UK£0.28
Jadestone Energy
7D
-1.8%
1Y
27.9%
ENOG
UK£8.43
Energean
7D
-2.8%
1Y
6.7%

ENOG: Angola Deal And Production Suspension Will Shape A More Balanced 2026

Analysts have reduced their price targets on Energean by £0.02 to £9.30, citing lower assumptions for revenue growth and profit margins, as well as a higher discount rate and a higher future P/E multiple, in response to recent research updates from Jefferies and Berenberg. Analyst Commentary Bullish Takeaways Bullish analysts still see room for upside if Energean can deliver on revenue growth targets, arguing that the current price target of £9.30 already reflects tougher assumptions on margins and discount rates.
SEPL
UK£4.88
Seplat Energy
7D
1.1%
1Y
186.8%
SEA
UK£0.73
Seascape Energy Asia
7D
-4.5%
1Y
141.0%
GENL
UK£0.52
Genel Energy
7D
-1.7%
1Y
-4.2%
ITH
UK£2.54
Ithaca Energy
7D
2.6%
1Y
91.3%
AET
UK£0.84
Afentra
7D
5.3%
1Y
118.8%
UPL
UK£0.029
Upland Resources
7D
-10.6%
1Y
195.0%
RKH
UK£0.90
Rockhopper Exploration
7D
19.8%
1Y
127.4%
KIST
UK£2.45
Kistos Holdings
7D
-5.8%
1Y
82.8%

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