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Ithaca Energy Posts Record High Output in Q2

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Oil and gas exploration company Ithaca Energy said Wednesday its output reached a record 131,000 barrels of oil equivalent per day in Q2, following a recovery from weather-related challenges encountered in the previous quarter.

This brought H1 average production to 128,000 boe/d, up from the previous year's 124,000 boe/d, according to the report.

Production mix in H1 comprised 52% liquids and 48% gas, data showed. This compares with 59% oil and 41% gas in H1 2025.

"The change reflects the continued evolution of the portfolio following gas-weighted mergers and acquisition activity undertaken in 2025, increasing the contribution of the group's Cygnus and Seagull gas fields to the group's overall production mix," the company said.

Ithaca's operated assets also achieved a record average production efficiency of 90% in Q2.

The company expects full year production to range from 120,000 boe/d to 130,000 boe/d, following strong operational results in in Q2.

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