ADM Energy plc ( (GB:ADME) ) has provided an update.
ADM Energy PLC has announced that its subsidiary, Efficient Oilfield Solutions LLC (EOS), has signed a significant service agreement with a subsidiary of Comstock Resources, Inc., a major independent oil and gas company. This partnership is expected to enhance EOS’s recurring revenue and expand its technological offerings, including IoT and AI services, to further benefit its clients. Additionally, ADM Energy is exploring strategic options for EOS, potentially including a sale or merger, to maximize shareholder value. This move aligns with the broader industry trend of digitization and data analysis in oilfields, which is recognized for its growth potential.
More about ADM Energy plc
ADM Energy PLC is a natural resources investing company with a diverse portfolio that includes a 100% interest in Vega Oil and Gas, a 41.4% economic interest in JKT Reclamation, LLC, and a 42.2% economic interest in OFX Technologies, LLC. The company also holds a 9.2% profit interest in the Aje Field offshore Nigeria, which contains multiple oil, gas, and gas condensate reservoirs.
YTD Price Performance: -50.0%
Average Trading Volume: 4,457,134
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.92M
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