Recent Updateīy the end of Q3 in the current year to the end of this month, the company reported some 13,740 barrels of oil equivalent per day for the period. These are at an early stage and could well require the group to take farm-in partners in their ongoing development. The group’s interests in the UK Continental Shelf of the North Sea includes a 100% working interest in a three-well drilling programme in the Liberator, two blocks, and the Serenity, one block, fields. It also has 172,000 net developed acres and 186,000 net undeveloped acres of land. In the Western Canadian Sedimentary Basin, the group has a portfolio of 242 operated wells, at an average 78% working interest, and 1,044 non-operated wells with an average 14% working interest. I3 Energy’s strategy is to focus on the development of discoveries located close to existing infrastructure and the exploitation of producing fields, whilst maintaining limited exploration exposure.
Then as it goes on to Produce it actively participates in production and development partnerships to smooth operations, mitigate delivery risk, and preserve project value. To Extract the company looks to maximise shareholder value during times of cyclical strength and market sentiment. Furthermore, it must remain equally strategic when large valuation gaps exist. With Acquire it looks to purchase producing or late-stage development assets from companies where required ‘finish-line’ financing, market conditions, or cost of capital provide opportunities with a sizeable margin of safety. Those targets must exhibit excellent technical and economic underpinning. The group’s Seek strut is to pursue high quality assets where cycle, situation, or geography offer disproportionate opportunity. Its strategy centres around four main struts – seek, acquire, extract and produce. That group is highly acquisitive, searching out accretive purchases. Part of its strategy is to focus on the development of discoveries located close to existing infrastructure and the exploitation of producing fields, whilst maintaining limited exploration exposure. You can now see why this is not one for the environmentalists. The company describes itself as ‘an energy company focused on the development and production of high return hydrocarbon fields and discoveries.’ It is now an independent oil and gas company with a low cost, diversified, growing production base in Canada’s most prolific hydrocarbon region, the Western Canadian Sedimentary Basin and a portfolio of promising appraisal assets in the North Sea. I consider that the Aberdeenshire-based i3 Energy (LON:I3E and TSX:ITE) has a lot going for it over the next year or so and, despite its shares having more than doubled this year, they could easily double again.įollowing a set of complex asset and funding transactions concluded in late 2020 the group transformed itself into an oil and gas production company. Even more appealing for masses of readers is the fact that this company’s shares are a ‘penny stock’ which enables you to buy more with your money.īut, of course, it doesn’t matter how many shares you may have in any particular company if it is bad value. However, if you assume that there will be an ongoing demand for both oil and gas then carry on.īetter still if you like investing in developing companies with masses of upside potential then this is for you. If you are a passionate about the environment, please do not read any further – this stock is not for you.
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