i3 Energy Plc
ITE.TO
Toronto Stock Exchange0.23
CAD
+0.01
- -
ISIN
GB00BDHXPJ60
Return %
Stock
S&P500
1Y
31.43
26.99
3Y
17.95
77.19
5Y
2,200.00
79.08
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Majid Shafiq
- Full Time Employees
- 61
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- Westpoint House Westhill United Kingdom AB32 6FJ
- IPO Date
- Nov 6, 2020
- Website
- i3.energy
- Similar Companies
- Business
- i3 Energy Plc engages in the acquisition, development and production of oil and gas assets primarily in the Western Canadian Sedimentary Basin and the UK North Sea. The company operates a diversified portfolio of low-cost, low-decline assets encompassing approximately 850 net conventional wells producing light and medium crude oil, heavy crude, natural gas and natural gas liquids across key plays including Central Alberta, Wapiti/Elmworth, Simonette and Clearwater; in the UK North Sea segment, it holds interests in blocks 13/23c and 13/23d encompassing the Liberator and Serenity fields, with a 75% stake in the 13/23c-10 well. i3 Energy maintains a substantial drilling inventory exceeding 250 net booked locations tied to 2P reserves of 175 MMBOE, alongside unbooked locations, supporting ongoing production growth and cash flow generation targeting 18,000-19,000 BOEPD in 2024 with an exit rate of 20,250-21,250 BOEPD. Founded in 2014 and historically headquartered in Eastleigh, UK, with operational offices in Calgary, Alberta, Canada, and Westhill, Aberdeenshire, UK, the company focuses on high-return projects in investment-grade jurisdictions with access to infrastructure. In a transformative development, Gran Tierra Energy Inc completes the acquisition of i3 Energy in October 2024 via a court-sanctioned scheme of arrangement, establishing i3 Energy as a wholly-owned subsidiary and integrating its Canadian assets into Gran Tierra's portfolio spanning Canada, Colombia and Ecuador; the transaction, valued at approximately £174 million or US$225 million, delivers i3 Energy shareholders one new Gran Tierra share per 207 i3 Energy shares plus 10.43 pence cash per share, alongside a special acquisition dividend of 0.2565 pence per share. This strategic combination enhances scale with combined 2P reserves surpassing 320 MMBOE, diversified production approximating 50,000 BOEPD, and optimized capital allocation across 584,000 net acres in Canada; post-acquisition, i3 Energy delists from AIM London Stock Exchange and TSX, with former shareholders owning up to 16.5% of Gran Tierra. Recent operational advancements prior to the deal include ESG-driven electrification of well sites, Phase 1 rollout of the Alternative Fugitive Emissions Management Programme using aerial methane imaging, and a 2024 capital budget emphasizing expansion in core areas.