i3 Energy Plc (GB:I3E) has released an update.
i3 Energy Plc showcased a strong financial position in Q1 2024, with a free cash flow jump to USD 15.0 million and a strategic debt refinancing that included a CAD 75 million credit facility, replacing the existing Trafigura loan. The company reported an average production of 19,410 barrels of oil equivalent per day, despite experiencing a slight decrease due to seasonally cold weather conditions. Additionally, i3 Energy has underscored its commitment to shareholder returns by declaring and paying dividends, and further bolstered its balance sheet through the post-quarter sale of royalty assets, which eliminated net debt.
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