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Orcadian Energy Plc ( (GB:ORCA) ) has provided an update.
Orcadian Energy has announced its unaudited results for the half year ending December 2024, highlighting strategic partnerships and asset acquisitions. The company completed the acquisition of HALO Offshore UK Ltd and sold a 50% interest to The Independent Power Corporation PLC, also agreeing to a 50% interest disposal in the Earlham project to The Marine Low Carbon Power Company Ltd. These moves are part of Orcadian’s strategy to grow into a gas-producing company and support the UK’s Clean Power initiative, with a focus on low-cost carbon mitigation and energy security.
More about Orcadian Energy Plc
Orcadian Energy is a North Sea-focused oil and gas exploration and development company, known for its low emissions approach. The company aims to balance Net Zero goals with sustainable energy supply, focusing on minimizing the cost of Net Zero while delivering reliable energy to the UK. Its key asset is the Pilot oilfield, which is being developed into a low-carbon emitting oil production facility using polymer flooding and wind power.
YTD Price Performance: -3.06%
Average Trading Volume: 91,785
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £7.51M
For a thorough assessment of ORCA stock, go to TipRanks’ Stock Analysis page.