Effective immediately, the board has appointed Iain Lewis, the chief financial officer, as the interim CEO while actively searching for a suitable successor.

Gilad Myerson, executive chairman of Ithaca Energy, said: “The Ithaca Energy board thank Alan for his hard work and strategic insight over the last two and a half years and wish him well for the future.

“The search for a new Chief Executive Officer will start as soon as possible. In the meantime, our strong Leadership Team will continue to manage the business, led by Iain as Interim CEO, working in collaboration with myself and with the support of the Board.”

Mr Bruce said: “I am extremely proud of what Ithaca Energy has accomplished over the past several years, with the Company now established as one of the largest independent operators in the UK.

“Having led the business through its successful IPO, I am leaving with the Company in a strong financial and strategic position. I would like to thank all of the Ithaca Energy employees who have been instrumental in the Company’s success to date and wish them well in the future.”