i3 Energy Plc (GB:I3E) has released an update.
i3 Energy Plc has reported a strong second quarter in 2024 with significant financial achievements, including a net profit before tax of USD 24.4 million and free cash flow of USD 28.5 million, driven by the sale of royalty assets and other divestitures. The company also boasted an average daily production of 18,271 barrels of oil equivalent despite the sale of non-core assets and operational challenges. With a net cash surplus and an undrawn credit facility, i3 Energy is well-positioned for its second-half development and drilling program, reinforcing its commitment to shareholder returns.
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