i3 Energy Plc (GB:I3E) has recently provided an update on its performance. In the first quarter of 2024, the company reported a strong start with a free cash flow of USD 15.0 million, showing a significant increase compared to the previous year. Average production reached 19,410 barrels of oil equivalent per day. Additionally, i3 Energy Plc secured a new CAD 75 million credit facility and remained committed to environmental and shareholder value initiatives.
During the period, the company repaid existing debts and after the quarter ended, divested royalty assets and a non-core asset, resulting in the elimination of their net debt. For more information on GB:I3E stock, interested individuals can visit TipRanks’ Stock Analysis page.