IGas Energy plc’s revenue during 2020 nearly halved and debt doubled while the group increased investments and its reserves were upgraded. The group’s full year results ended 31 December 2020 showed revenues of £21.6 million (2019: £40.9m), with average production of 1,907 boepd (2019: 2,325 boepd). Net debt was reported at £12.2m (2019: £6.2m) and […]
Tag: IGas Energy plc
IGas to convert methane into hydrogen at southeast sites
IGas Energy plc said it aimed to produce hydrogen from its existing methane resources after entering a heads of agreement with a US manufacturer of modular hydrogen generation systems. The oil and gas explorer and developer said it had identified two of its exisiting sites in the south east of England where the gas resource could […]
IGas Energy revenues halve as it targets new technologies
IGas Energy plc’s revenues halved to £10.5 million during the six months to June 2020 compared with the same period last year of £22.1 million. The oil and gas company, which recently acquired geothermal developer GT Energy, also announced it would also consider adding new technologies to its existing business. Interim results showing EBITDA at […]