i3 Energy Plc (GB:I3E) has released an update.
i3 Energy Plc has successfully sold a portion of its royalty assets for $24.81 million, allowing the company to fully pay off its bank debt and bolster its working capital. The strategic disposal of these assets, which account for 388 boe/d of production, aligns with i3’s growth and income strategy by significantly enhancing its financial flexibility. The company retains a key royalty position in the Simonette area, ensuring ongoing participation in the Montney oil asset while setting the stage for a dynamic 2024 with a solid foundation for both organic and inorganic growth.
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