Dividend
- Dividend distributions to shareholders of $500 million, with third interim 2025 dividend of $200 million, declared today, and payable in April 2026
- Refreshed capital allocation framework including upward revision of dividend policy, targeting shareholder returns in the range of 20-35% of post-tax CFFO (an increase from the previous range of 15-30%) with a target range of $470-520 million.
Other Financial Highlights
- Strong financial performance with adjusted EBITDAX of $2.0bn (2024: $1.4bn), net cash flow from operations of $1.7bn (2024: $0.9bn) and free cash flow of $683.3million (2024: 260.8 million)
- Enhanced liquidity position of $1.5bn (2024: $1.0bn) providing material financial firepower to support future growth
- Material United Kingdom Continental Shelf resource holders with 2P reserves and 2C resources of 658 mmboe and attractive 2P reserves replacement ratio of over 130%
- Excellent operational performance supported average production of 119 kboe/d and 2025 exit rate of approx. 148 kboe/d, demonstrating increased installed production capacity into 2026
