North Sea producer Ithaca Energy (Ithaca) reported bumper $1.4bn profits in its first set of results since its London debut earlier this month.
Production for the year-to-date has risen to 68,246 barrels of oil equivalent per day, over 20 per cent higher than the rate for the entire year in 2021.
The independent oil and gas trader has stakes in six of the 10 largest fields in the UK.
Ithaca revealed work regarding a final investment decision work is ongoing at the Cambo and Rosebank fields West of Shetland, alongside the Fotla and Marigold projects in the North Sea.
The firm also suffered an exceptional deferred tax charge of $323m as a result of the windfall tax.
The firm said it remains committed to its dividend policy, which includes $400m in payments next year.
Ithaca made its initial public offering in London earlier this month with a £3bn valuation, but shares have since dipped 21 per cent following a toughened Energy Profits Levy and investor concerns over an increasingly mature portfolio.
Shares were up 4.33 per cent at close of trading on the London Stock Exchange this evening following the latest update.