October 2026
Largest Energy Production Public Companies in the UK
Benchmark revenue and EBITDA valuation multiples for public comps like
Shell, BP, SSE, Centrica and Ithaca Energy.
 | Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2025, it produced 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day. At end-2025, reserves stood at 8.1 billion barrels of oil equivalent, 44% of which consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with a capacity of 1.4 mmb/d located in the Americas, Asia, and Europe, and sells about 9 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in NorthWestern Europe, China, and North America. | $52 | +40% | $298B | $341B | 1.3x | 6.2x | ||
| BP is an integrated energy company that explores for, produces, and refines oil and gas around the world. In 2025, it produced 1.2 million barrels of liquids and 6.5 billion cubic feet of natural gas per day. At the end of 2025, proved hydrocarbon reserves stood at 6.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a total crude distillation capacity of 1.56 million barrels of oil per day. | $8 | +40% | $126B | $180B | 0.9x | 6.2x | ||
| SSE is an integrated utility based in the United Kingdom owning and operating renewables and gas-fired power plants and electricity transmission and distribution networks. The firm is also involved in smaller related businesses such as gas storage and energy services. | $34 | +36% | $42B | $58B | 4.3x | 15.1x | ||
| Centrica is a diversified utility based in the UK with operations that produce oil and gas and supply natural gas and electricity. Its British Gas business unit is the largest residential supplier of natural gas and HVAC services in Britain. | $2 | -15% | $9.1B | $8.7B | 0.3x | 12.1x | ||
| Ithaca Energy PLC is engaged in the production and development of oil and gas properties. The company's assets are located in the Northern and Central North Sea, West of Shetland, and Moray Firth areas of the UK Continental Shelf. It generates the majority of its revenue from Oil sales. The Group operates a single class of business being oil and gas exploration, development and production and related activities. It also operates in a single geographical area, being the North Sea. | $4 | +38% | $6.5B | $7.7B | 2.6x | 4.3x | ||
| Harbour Energy PLC is an independent upstream oil and gas company engaged in the acquisition, exploration, development, and production of oil and natural gas reserves. The operating segments are divided geographically and managed across nine business units: namely Norway, UK, Germany, Mexico, Argentina, North Africa, Southeast Asia, CCS and Corporate. The CCS segment includes Denmark. The majority of the company's revenue is derived from the sale of crude oil in Norway. | $4 | +32% | $5.8B | $12B | 1.2x | 1.9x | ||
| Drax Group PLC is a UK-based renewable energy company engaged in renewable power generation, the production of sustainable biomass and the sale of renewable electricity to businesses. It operates a generation portfolio of sustainable biomass, hydro-electric, and pumped hydro storage assets across four sites in England and Scotland. The company also operates a bioenergy supply business with manufacturing facilities in the United States and Canada, producing compressed wood pellets for its own use and for customers in Europe and Asia. Its segments include Pellet Production, Generation, and Customers. The majority of its revenue is generated from the Customers segment which sells renewable electricity to industrial and commercial customers in the United Kingdom. | $10 | +10% | $3.5B | $4.9B | 0.7x | 7.5x | ||
| Energean PLC is an oil and gas company. The principal activity of the group is the exploration, production, and commercialization of crude oil and natural gas. Its segments are Europe (including Greece, Italy, UK and Croatia), Israel, Egyptand New Ventures. The company's majority of its revenue comes from the Israel segment. | $10 | -22% | $1.8B | $5.1B | 3.0x | 6.4x | ||
| Econergy Ltd is an international IPP (independent power producer) of utility-scale renewable energy projects. The company develops, owns, and operates utility-scale renewable energy projects driven by deep industry, regulatory and technology expertise at every critical stage from origination to supply. Geographically, it has a presence in Italy, UK, Romania, Spain, Poland, and Greece. | $20 | +72% | $1.6B | $2.3B | 215.5x | (36.5x) | ||
| Serica Energy PLC is an independent upstream oil and gas company with operations centered on the UK North Sea with a range of exploration and production assets. The company operates the Bruce, Keith, and Rhum fields in the UK Northern North Sea. It also operates the Columbus Field, Triton FPSO, and the Mansell field as well as holding an interest in the Erskine field in the Central North Sea. It derives maximum revenue from sale of Gas. | $4 | +30% | $1.5B | $1.4B | 2.4x | 5.5x | ||
| Rockhopper Exploration PLC is an oil and gas exploration and production company with key interests in the North Falkland Basin. The principal activity of the Group is the exploration, appraisal and development of its oil and gas acreage. The Group's is into explore, appraise, develop and manage production from its acreage both safely and responsibly. The business is only engaged in one business, that of upstream oil and gas exploration and production. The group's operations are located and managed in three geographically distinct business units; namely the Falkland Islands, and Corporate (includes UK and the Ombrina Mare Arbitration). | $1 | -29% | $813M | $783M | - | (18.7x) | ||
| EnQuest PLC is a UK independent producer of oil and gas. The principal activities of the company and its subsidiaries are the exploration for, and extraction and production of, hydrocarbons in the UK Continental Shelf and Malaysia. It focuses on maturing assets and undeveloped oil fields. Its geographical segments include the North Sea and Malaysia. The company generates maximum revenue from the North Sea. The North Sea’s activities include Upstream, Midstream, Decommissioning, and Veri Energy. | $0 | +160% | $774M | $1.7B | 1.5x | 1.9x | ||
| Capricorn Energy PLC is an energy producer focused on oil and gas. Its portfolio includes onshore development and production assets in the Egyptian Western Desert. Capricorn has two reportable operating segments related to its operations in Egypt and Mexico. In addition, it has an Other Capricorn Energy Group segment, and an Other countries segment, which combines costs related to legacy assets in Mauritania and Suriname and ongoing new venture activities in the UK. Geographically, the company derives its key revenue from Egypt through oil and gas sales. | $6 | +116% | $390M | $282M | 2.1x | 5.1x | ||
| Kistos Holdings PLC is established to create value for its investors through the acquisition and management of companies or businesses in the energy sector. Its principal area of activity is the acquisition and operation of companies or businesses in the energy sector, with a focus on upstream oil and gas activities. The company's reportable segments are; the Netherlands, comprising the production and sale of gas and other hydrocarbons in the Q10-A field and the related costs; the Norway segment comprises the production of oil from interests in the Balder and Ringhorne Ost fields offshore Norway; and the UK segment represents the production and sale of gas and other hydrocarbons from its interest in GLA and related costs. | $4 | +67% | $345M | $812M | 3.8x | 8.2x | ||
| Afentra PLC is an upstream oil and gas company in the United Kingdom with a focus on exploring opportunities across Africa. Its purpose is to support the energy transition in Africa by establishing itself as a credible partner for divesting IOCs and Host Governments. It holds a non-operated interest in several key blocks. The group has a non-operated interest in producing Block 3/05, as well as in the adjacent development Block 3/05A in the Lower Congo Basin, Angola. Additionally, it holds a non-operating interest in the exploration of Block 23 in the Kwanza Basin. Onshore Angola, Afentra has a non-operated interest in Block KON 19, located in the western part of the Onshore Kwanza Basin. It also has a carried interest in the Odewayne Block, located onshore in southwestern Somaliland. | $1 | +64% | $270M | $242M | 2.1x | 5.6x | ||
| Tullow Oil PLC is an independent oil and gas exploration and production company. The company conducts exploration, appraisal, and development activities in the African and Atlantic regions. The majority of revenue is derived from West African assets, with a focus on offshore fields. Assets used in oil and gas production are acquired through licenses. The company generates revenue from natural gas and crude oil sales. Its reportable segments are; Ghana which generates key revenue, Non-operated, Kenya and Exploration. | $0 | +22% | $238M | $2B | ||||
| Pantheon Resources PLC is an oil and gas exploration company based in the United Kingdom. The company principally invests in oil and gas exploration and development. There are two reportable operating segments: U.S., which includes the Alaskan Operation plus administration based in Alaska and Texas and UK; Office for Pantheon Resources PLC. Its projects include Ahpun, Kodiak and Alaska North Slope. | $0 | -62% | $203M | $192M | ||||
| Borders & Southern Petroleum PLC is a UK-based company engaged in the exploration of hydrocarbons. Its only operating segment includes exploration for Oil and Gas and substantially one geographical market: the Falkland Islands. | $0 | -2% | $133M | $132M | ||||
| Chariot Ltd is engaged in the exploration, appraisal and development of upstream oil and gas assets, renewable energy to power projects, and development of early stage green hydrogen projects. It is a focused energy group with two core business streams: Upstream Oil and Gas and Renewable Power. Its upstream oil and gas pillar is focused on building out a full value chain growth business within Africa. Its renewable power business is focused on providing competitive, sustainable and reliable energy solutions across southern Africa. The group has four reportable segments being Upstream Oil & Gas, Renewable Power, Green Hydrogen, and Corporate costs. | $0 | +74% | $117M | $113M | ||||
| Aminex PLC is a UK-based oil and gas company. Its principal activities are the production, appraisal, and development, with exploration potential, of oil and gas assets reserves, and resources. The company's operating segments are Producing Oil and Gas Properties, Exploration Activities, and Oilfield Services. The company holds nearly three licenses in Tanzania namely Kiliwani North, Ruvuma PSA, and Nyuni Area. | $0 | +12% | $111M | $111M | ||||
| Helix Exploration PLC is engaged in the exploration, commercial development, and monetization of a non-hydrocarbon associated helium rich gas structure focusing on Rudyard Project. The company associates it's operations in Montana, North America. | $0 | +1% | $108M | $106M | ||||
| Seascape Energy Asia PLC is an oil and gas exploration and production company. The principal activities of the company and its subsidiaries are to explore, develop and produce hydrocarbons, particularly gas. The company focuses on drill-bit, both through infill drilling in existing fields and through near-field exploration drilling. The company's business operations are held in Malaysia and Norway. | $1 | +49% | $98M | $92M | ||||
| Zephyr Energy PLC is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States. The company's main operating segment is the exploration, development, and production of oil and gas resources, based in the USA. It generates the revenue from Crude oil, Natural gas, and Natural gas liquids. | $0 | +10% | $84M | $105M | ||||
| Upland Resources Ltd is an upstream oil and gas company focused on the identification, evaluation and advancement of exploration and development opportunities. The company is centred on building a focused portfolio of assets with the potential to deliver sustainable long-term value through disciplined technical assessment, strategic partnerships and prudent capital management. Its segments include the exploration and development of oil and gas assets. It currently operates in one jurisdiction - Sarawak, Malaysia through its wholly-owned subsidiary and its associate; and Upland Drilling Services. | $0 | +18% | $67M | $64M | ||||
| Corcel PLC manages a portfolio of oil and gas exploration and appraisal assets in onshore Angola. The company retains interests in several legacy battery metals assets offering exposure to lithium and rare earth elements. It holds an interest in the Apex oil & gas project, Mt. Weld Rare Earth Element project, and others. The geographical segments of the company include Australia, the United Kingdom, Brazil, Africa, and Others. | $0 | +32% | $56M | $50M | ||||
| Star Energy Group PLC is an onshore energy business. Its main focus has been on oil and gas extraction. The company is engaged in exploring, appraising, developing, and producing oil and gas properties, and developing geothermal projects. Its business segments includes Oil and Gas, which generates the majority of the revenue, and the Geothermal segment. The company has two geographical areas of operation, the United Kingdom and Croatia. All revenues are derived in the United Kingdom. | $0 | +124% | $51M | $52M | ||||
| Georgina Energy PLC is a helium, hydrogen and natural resources development and production company. Its projects include the Hussar projects and EP155 mount winter project. | $0 | +125% | $42M | $45M | ||||
| Helium One Global Ltd is a helium exploration and development company focused on becoming a producer of natural helium. The business operates through two segments: the southern Rukwa Helium Project in Tanzania and its working interest in the Galactica-Pegasus helium and carbon dioxide project in Colorado, USA. Current activities include progressing the southern Rukwa discovery under its new mining licence and preparing further testing to support development, while in the USA, the company is advancing the Galactica-Pegasus project toward initial production. the company has a geographical presence in Tanzania and the United States. | $0 | -32% | $40M | $35M | ||||
| Angus Energy PLC is an investment holding company. Along with its subsidiaries, it is engaged in the on-shore, conventional production and development of hydrocarbons in the United Kingdom. The group carries out its activities in the Saltfleetby gas field and also operates licenses in the Weald Basin in southern England, containing the Brockham, Lidsey, and Balcombe oil fields. It generates revenue through the sale of natural gas and oil. A majority of the group's revenue is generated from the sale of natural gas. | $0 | -22% | $20M | $44M | ||||
| Ampeak Energy Ltd is a developer, builder, owner and operator of sustainable energy projects. It considers its business as four operating segments: Project Development, Tidal, Battery Storage and Corporate. The Tidal segment focuses on the operation and further development of the flagship tidal stream project, MeyGen. Revenues from the Tidal segment are derived from MeyGen's contract to sell generation and renewable obligation certificates. The Battery Storage segment reports the income from each of its BESS projects; the operating costs associated with the Uskmouth site and the valuation of the battery storage project portfolio. The Project Development segment reports the project development costs incurred on all projects. It derives majority of revenue from Battery Storage segment. | $0 | -18% | $18M | $162M | ||||
| Sound Energy PLC is the holding company for a group of energy-focused companies, whose principal activities are currently the exploration, appraisal, and development of gas assets. The group's current principal area of activity is in Morocco, and the company is focused on achieving its first production from an onshore discovery. The group categorizes its operations into three business segments: corporate, exploration and appraisal, and development and production. | $0 | -76% | $4M | $58M | ||||
| Median | $0 | +30% | $238M | $242M | 2.4x | 1.9x |
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