IGas stepping up investment after rise in oil prices
Shale gas company IGas Energy is stepping up investment in the business due to improved oil prices.
In a trading update for the period from January 1 to June 30, today, the company said it has increased its commitment to further capital expenditure and now expects net cash capital expenditure for 2018 to be £11m.
Cash balances at June 30 were £14.5m, with a net debt of £6.8m.
It revealed that net production averaged around 2,300 boepd (barrel of oil equivalent) in the first half of 2018 and the firm is expecting average ne... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
