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Largest Energy Production Public Companies in the UK
Benchmark revenue and EBITDA valuation multiples for public comps like
Shell, BP, SSE, Centrica and Harbour Energy.
 | Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2024, it produced 1.5 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At year-end 2024, reserves stood at 9.6 billion barrels of oil equivalent, 48% 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 1.6 mmb/d located in the Americas, Asia, and Europe, and sells about 12 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America. | $44 | +29% | $244B | $296B | 1.1x | 5.2x | ||
| BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2024, it produced 1.2 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2024, reserves stood at 6.2 billion barrels of oil equivalent, 59% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day. | $7 | +50% | $113B | $152B | 0.8x | 4.1x | ||
| SSE is an integrated utility based in the United Kingdom. The bulk of SSE's profit comes from the company's power generation businesses and its electricity transmission and distribution networks. The firm is also involved in smaller related businesses such as gas storage and energy services. | $31 | +28% | $38B | $49B | 3.6x | 11.6x | ||
| 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. | $3 | +17% | $11B | $10B | 0.3x | 5.4x | ||
| Harbour Energy PLC is an independent oil and gas company, producing barrels of oil equivalent per day from the North Sea and South East Asia. The company's activities consist of one class of business being the acquisition, exploration, development and production of oil and gas reserves and related activities and are split geographically and managed in nine Business Units: namely Norway, the UK, Germany, Mexico, Argentina, North Africa, Southeast Asia, CCS and Corporate. | $4 | +45% | $6B | $11B | 1.1x | 1.6x | ||
| 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. | $3 | +50% | $5B | $7B | 2.2x | 3.4x | ||
| 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. | $11 | +16% | $4B | $5B | 0.6x | 3.6x | ||
| 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, the UK), Israel, and New Ventures. The company's majority of its revenue comes from the Israel segment. | $10 | -19% | $2B | $4B | 2.5x | 4.5x | ||
| 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. | $22 | -- | $2B | $2B | 206.5x | 84.7x | ||
| 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. | $3 | +63% | $1B | $2B | 2.6x | 5.8x | ||
| Rockhopper Exploration PLC is an oil and gas exploration and production company operating in the United Kingdom. It is engaged in the exploration, appraisal, and development of its oil and gas acreage. The company holds a working interest in various North Falkland Basin licences. The group's operations are made up of two segments: the oil and gas exploration and production activities in the geographical regions of the Falkland Islands and its corporate activities, mainly centred in the UK. | $1 | +57% | $846M | $727M | - | 9.5x | ||
| 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 | +57% | $495M | $1B | 1.2x | 1.4x | ||
| 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 | -1% | $319M | $2B | 2.6x | 3.6x | ||
| 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 | +57% | $301M | $478M | 2.2x | 12.5x | ||
| 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. | $4 | +36% | $287M | $255M | 1.9x | 3.5x | ||
| 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 | -42% | $265M | $258M | - | 2146.8x | ||
| 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 | +46% | $211M | $238M | 2.1x | 4.3x | ||
| Savannah Energy PLC is an energy company focused on the exploration, development, and production of natural gas and crude oil across Africa. The Group operates through four segments, with its primary activities centered on the exploration, development, and extraction of oil and gas. Its key geographical markets include Nigeria, Cameroon, and Niger. | $0 | -8% | $185M | $802M | 3.5x | 4.8x | ||
| Indus Gas Ltd is an oil and gas exploration and development company. It predominantly operates in India, focusing on exploration, development, production, distribution, and marketing of hydrocarbons, including natural gas. The company holds a participating interest in Block RJ-ON/6, an onshore petroleum concession in Rajasthan, India, covering a large area in the Indus Basin. Its operations involve partnerships with entities like Oil and Natural Gas Corporation Ltd. (ONGC) and Focus Energy Ltd., with ONGC having back-in rights for participating interests in discovered fields. Indus Gas sells natural gas prominently to GAIL (India) Ltd and continues to evaluate other opportunities in the oil and gas sector. | $0 | -- | $8M | $916M | - | - | ||
| Median | $3 | +36% | $1B | $2B | 2.1x | 4.7x |
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