ITHACA OIL AND GAS LIMITED
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Cash
£68m
USD 92,097,000
+23,234.4% vs 2024
Net assets
£384m
USD 517,632,000
-11.1% vs 2024
Employees
—
Average over period
Profit before tax
-£73m
USD -98,848,000
-171.3% vs 2024
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £35,610,474 | £34,957,328 | -1.8% | |
| Operating profit | -£1,363,658,071 | -£55,109,462 | +96% | |
| Profit before tax | £102,897,167 | -£73,356,586 | -171.3% | |
| Net profit | £180,046,164 | -£18,900,928 | -110.5% | |
| Cash | £292,900 | £68,346,568 | +23,234.4% | |
| Total assets less current liabilities | £868,943,808 | £732,707,236 | -15.7% | |
| Net assets | £432,267,590 | £384,142,486 | -11.1% | |
| Equity | £432,267,590 | £384,142,486 | -11.1% | |
| Average employees | — | — | — | |
| Wages | — | — | — | |
| Directors' remuneration | — | £2,968 | — |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | — | -157.6% | |
| Net margin | — | -54.1% | |
| Return on capital employed | -156.9% | -7.5% | |
| Gearing (liabilities / total assets) | 59.2% | 60.9% | |
| Interest cover | -65.69x | -2.78x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 4 times since incorporation
- ITHACA OIL AND GAS LIMITED 2019-11-08 → present
- CHEVRON NORTH SEA LIMITED 2005-08-01 → 2019-11-08
- CHEVRONTEXACO NORTH SEA LIMITED 2005-01-04 → 2005-08-01
- CHEVRON U.K. LIMITED 1988-06-15 → 2005-01-04
- GULF OIL (U.K.) LIMITED 1981-02-20 → 1988-06-15
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider the preparation of the financial statements on a going concern basis to be appropriate. This is due to the following key factors relevant to the assessment of the Group's ability to continue as a going concern and therefore its ability to provide support if required to the Company: Continuing robust commodity price backdrop and a well hedged portfolio over the next 24 months; Reserves Based Lending ("RBL") is undrawn providing liquidity headroom of $1,300 million, plus circa $638 million cash at the end of July 2026; and Strong operational performance and well-diversified portfolio.”
Significant events
- “In March 2026, the Alba field ceased production, and in May 2026 the Stella and Harrier fields ceased production.”
- “On 1 April 2026, a farm-in agreement was entered into for a transfer of 45% equity stake in the Fotla development to Harbour Energy, building on the existing infrastructure partnership in the Greater Britannia Area and establishing the commercial framework to move the project towards sanction in 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 68 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2019-11-08 | — | — |
| FRIEDMAN, Yaniv | Director | 2024-07-01 | Apr 1974 | Israeli |
| LEWIS, Iain Clifford Scobbie | Director | 2023-04-09 | Dec 1977 | British |
| MCATEER, Julie Elizabeth | Director | 2024-05-27 | Mar 1969 | British |
| VASQUES, Luciano Maria | Director | 2024-10-03 | Apr 1963 | Italian |
Show 68 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CHAIYASUTA, Siriporn | Secretary | 2012-05-01 | 2014-04-14 |
| JONES, Mark Alan | Secretary | 2009-02-09 | 2010-06-29 |
| RIXON, Peter Andrew Robin | Secretary | — | 2008-05-19 |
| UDOMA, Sally Olayinka, Mrs. | Secretary | 2010-07-27 | 2012-05-01 |
| UDOMA, Sally Olayinka | Secretary | 2008-05-19 | 2009-02-09 |
| ZAZA, Brigitte | Secretary | 2010-10-28 | 2019-11-08 |
| BENSON, Eric Andrew | Director | 2010-07-27 | 2012-09-01 |
| BIRSA, David Scott | Director | — | 1992-10-22 |
| BOONYAPALUK, Pativate | Director | 2013-06-11 | 2014-09-15 |
| BREBER, Pierre | Director | 2003-10-22 | 2005-09-27 |
| BRUCE, Alan Alexander | Director | 2021-09-20 | 2024-01-04 |
| CALLAGHAN, Edward Michael | Director | 2015-09-24 | 2017-08-07 |
| CASEY, Michael Wayne | Director | 2006-01-19 | 2007-08-01 |
| CHUDANOV, Donald Allan | Director | 2006-07-17 | 2012-06-04 |
| COHAGAN, Richard Philip | Director | 2006-05-15 | 2011-05-09 |
| CONNON, Robert Keith | Director | 1995-02-01 | 2001-10-10 |
| CRAWFORD, David Andrew | Director | 2021-02-01 | 2022-09-01 |
| DILLARD, David Wayne | Director | 2014-02-01 | 2018-02-01 |
| DULANEY, Brenda Sue | Director | 2011-05-09 | 2013-06-17 |
| DUNNETT, Bill | Director | 2020-08-24 | 2021-09-14 |
| DZHETPISOVA, Raigul | Director | 2012-09-01 | 2016-07-25 |
| EDMONDSON, Thomas Alexander | Director | 1992-11-12 | 1994-06-01 |
| FITZGERALD, John Gary | Director | 1995-01-10 | 1997-07-31 |
| FORBES, Graham Andrew | Director | 2019-11-08 | 2021-01-31 |
| FRANK, William Edward | Director | 2003-10-22 | 2006-01-19 |
| FREEMAN, John Barry | Director | — | 1994-09-30 |
| GASS, John Donald | Director | — | 1994-09-30 |
| GERMANI, Gregory Anthony | Director | 2011-03-08 | 2013-06-11 |
| GREEN, Roderick Tremell | Director | 2016-07-25 | 2018-08-20 |
| GUSTAVSON, Jeffrey Brix | Director | 2009-02-09 | 2010-07-27 |
| HAILE, John Steven | Director | 2007-09-11 | 2009-10-14 |
| HARLAN, Tearle William Thomas | Director | 2017-08-07 | 2019-11-08 |
| HINKLEY, Richard James | Director | 2015-07-06 | 2017-12-14 |
| HUMPHREY, Mark Alan | Director | — | 1993-11-03 |
| JONES, Mark Alan | Director | 2008-05-19 | 2010-06-29 |
| LACY, Kevin Dennis | Director | 1997-07-31 | 2000-02-25 |
| LUQUETTE, Gary Paul | Director | 2003-02-04 | 2006-05-15 |
| LYDECKER, Greta Gill | Director | 2016-07-11 | 2019-11-08 |
| MACKIE, Paul Gavin James | Director | 1999-01-27 | 2003-10-22 |
| MATIUK, Gregory | Director | — | 1992-11-12 |
| MATZKE, Richard Herman | Director | — | 1999-12-31 |
| MAY, Billy Craig | Director | 2013-06-17 | 2016-07-11 |
| MAY, Eric Daniel | Director | 2008-03-18 | 2011-03-08 |
| MCCABE, James Reid | Director | 1998-11-20 | 2001-09-27 |
| MCDONALD, John William | Director | 2001-10-10 | 2003-02-04 |
| MCGARVA, Anthony Robert | Director | 2014-09-15 | 2019-11-08 |
| MITRO, Thomas Michael | Director | 1993-11-03 | 1997-07-31 |
| MYERSON, Gilad | Director | 2021-06-14 | 2024-05-27 |
| OLSON, Stacey Guillot | Director | 2012-06-04 | 2015-07-06 |
| PITTS, Alan Stewart | Director | 2018-05-24 | 2019-09-10 |
| PIZZALA, David Robert Powell | Director | 2005-09-27 | 2009-02-09 |
| RICKETTS, William Kevin | Director | 2017-12-14 | 2019-02-28 |
| RING, Michael Fielding | Director | 1997-07-31 | 1999-01-27 |
| RIXON, Peter Andrew Robin | Director | — | 2008-05-19 |
| ROBERTSON, Peter James | Director | 2000-02-25 | 2002-06-17 |
| ROGERS, William Curtis | Director | 2012-07-01 | 2015-07-13 |
| ROMERO, Andres Raul | Director | 2011-10-12 | 2012-07-01 |
| SIRGO, Eric Christopher | Director | 2009-10-19 | 2014-02-01 |
| SMITH, Brian Anthony | Director | 2003-10-22 | 2006-06-01 |
| SMITH, Charles Mayfield | Director | — | 1995-02-01 |
| SMITH JNR, Rossman William | Director | 1993-10-22 | 1995-08-01 |
| STEVENS, Christopher Ed | Director | 2006-01-19 | 2008-01-01 |
| TAYLOR, Charles Alan | Director | 2000-02-25 | 2003-10-22 |
| THOMAS, Leslie James | Director | 2019-11-08 | 2020-08-24 |
| THOMPSON, Michael Robert | Director | 2018-08-20 | 2019-11-08 |
| UDOMA, Sally Olayinka | Director | 2010-07-27 | 2011-11-02 |
| WAGNER, David Joseph | Director | 2007-05-30 | 2010-10-10 |
| WINTER, Spencer Robert | Director | 1995-08-01 | 1998-11-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ithaca Energy (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-11-08 | Active |
| Chevron North Sea Holdings Limited | Corporate entity | Significant influence | 2019-05-21 | Ceased 2019-11-08 |
| Chevron Products Uk Limited | Corporate entity | Shares 75–100% (as firm), Voting 75–100% (as firm), Appoints directors, Significant influence (as firm) | 2016-04-06 | Ceased 2019-05-21 |
Filing timeline
Last 20 of 332 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-01-14 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-14 | AA | accounts | Accounts with accounts type full | |
| 2026-08-20 | CH01 | officers | Change person director company with change date | |
| 2026-06-17 | CH01 | officers | Change person director company with change date | |
| 2025-12-27 | AA | accounts | Accounts with accounts type full | |
| 2025-12-02 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2025-01-14 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-01-14 | SH20 | capital | Legacy | |
| 2025-01-14 | CAP-SS | insolvency | Legacy | |
| 2025-01-14 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-19 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2024-11-19 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2024-11-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-25 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-10-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-10-20 | CH01 | officers | Change person director company with change date | |
| 2024-10-18 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-14 | AA | accounts | Accounts with accounts type full | |
| 2024-10-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-25 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 2
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.