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Orcadian Energy Plc ( (GB:ORCA) ) has provided an update.
Orcadian Energy Plc has sold 50% of its shares in HALO Offshore UK Ltd to The Independent Power Corporation Plc (IPC). This partnership aims to explore low-emissions, gas-producing opportunities with IPC providing necessary financial backing. The move could enhance Orcadian’s strategic positioning in sustainable energy production and offer significant growth opportunities within the sector.
More about Orcadian Energy Plc
Orcadian Energy Plc is a North Sea-focused oil and gas exploration and development company, emphasizing low emissions operations. The company is involved in the Pilot oilfield project, utilizing polymer flooding and wind power to create cleaner oil production. Orcadian has interests in several licenses and is committed to balancing Net Zero goals with energy supply demands.
YTD Price Performance: -30.0%
Average Trading Volume: 83,842
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £6.91M
Learn more about ORCA stock on TipRanks’ Stock Analysis page.
