i3 ENERGY
i3 Energy is a UK-listed independent oil and gas exploration and production company with assets in the UK North Sea and Canada, founded in 2014 and acquired by Gran Tierra Energy in August 2024 for £175 million.
- Company typePrivate
- Founded2014
- HeadquartersWestmill, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingServices
What i3 ENERGY does
i3 Energy is a UK-incorporated, London-listed (LSE: I3E) independent upstream oil and gas company founded in 2014 and headquartered in Westmill, United Kingdom. The company focused on exploration and production of hydrocarbons, with operated and non-operated assets primarily in the UK North Sea and Canada. With a headcount of 51-100 employees, i3 Energy operated as a small-cap E&P platform rather than an integrated major, generating revenue through the sale of produced crude oil and natural gas to commodity off-takers such as refiners, traders, and midstream aggregators. Pricing was not publicly disclosed and customer-level data is unavailable, consistent with commodity-driven revenue mechanics.
In August 2024, Gran Tierra Energy, a publicly listed international E&P (TSX/NYSE/LSE), acquired i3 Energy for £175 million in a transaction combining share and cash components. Post-completion, former i3 Energy shareholders held up to 16.5% of Gran Tierra Energy, making them a significant minority block in the acquirer. The deal was positioned as a portfolio diversifier for Gran Tierra, adding North Sea and Canadian barrels alongside its core South American operations. Following the transaction, i3 Energy ceased to exist as an independent operating entity and is now a wholly-owned subsidiary of Gran Tierra Energy.
The supplied financial dataset contains figures that appear unit-misformatted (values in the trillions) and cannot be relied upon for revenue, EBITDA, or net income analysis of i3 Energy on a standalone basis. No AI/ML capabilities, proprietary technology platforms, or digital product offerings were disclosed. The company's competitive position was driven by hydrocarbon reserves and license holdings rather than differentiated technology, and the ultimate exit via sale to a larger operator indicates sub-scale economics relative to peers.
i3 ENERGY firmographics
Firmographics- Name
- i3 ENERGY
- Legal name
- i3 Energy
- Website
- https://i3.energy
- Company type
- Private
- Founded year
- 2014
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- i3 Energy is a UK-listed independent oil and gas exploration and production company with assets in the UK North Sea and Canada, founded in 2014 and acquired by Gran Tierra Energy in August 2024 for £175 million.
- Ownership category
- akta.pro rank
i3 ENERGY industry classification
Industry- Product category
- Oil and Gas Exploration & Production
- NAICS
- Oil and Gas Extraction (2111), Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)
- akta.pro primary industry
- Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)
Keywords
Where i3 ENERGY is headquartered
LocationHeadquarters
- HQ city
- Westmill
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
i3 ENERGY business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D
i3 ENERGY product offering
Product offeringCore offering
i3 Energy was an independent upstream oil and gas company engaged in the exploration, development, and production of hydrocarbon reserves, with a portfolio concentrated in the UK North Sea and Canada. The company generated revenue through the sale of produced crude oil and natural gas from its operated and non-operated upstream interests. In August 2024, i3 Energy was acquired by Gran Tierra Energy in a £175 million share-and-cash transaction, concluding its standalone operations.
Product overview
i3 Energy was an oil and gas exploration and production company. The company held assets largely in the UK North Sea and Canada. In August 2024, Gran Tierra Energy acquired i3 Energy for £175 million in a deal including share and cash components, resulting in i3 shareholders holding up to 16.5% of Gran Tierra. The acquisition was intended to diversify and strengthen Gran Tierra's portfolio with assets operated out of South America.
Differentiator
Problem solved
Functional benefit
Products and services
- Oil and Gas Exploration and Production Assets
Companies that use i3 ENERGY
Customer profileIdeal customer profiles1 record
i3 ENERGY technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
i3 ENERGY partnerships and signals
Strategic signalScale indicators1 record
Recent moves3 records
Expansion highlights2 records
i3 ENERGY competitors and assessment
Company assessmentEmerging players
- Parkmead Group: Smaller UK and Netherlands-focused E&P. Comparable to i3 Energy as a small-cap North Sea operator with similar asset profile and operational challenges.
Direct peers
- Harbour Energy: UK-listed independent E&P focused on the UK North Sea. Closely comparable to i3 Energy as a London-listed junior-mid cap producer operating in the same UK North Sea basin with similar operational and cost dynamics.
- Ithaca Energy: North Sea-focused E&P with UK-listed status post the Eni UK transaction. Comparable in basin focus (UK North Sea) and operational scale to i3 Energy's UK assets.
- EnQuest: Independent UK North Sea-focused E&P with operations overlapping i3 Energy's UK North Sea assets. Comparable in scale, basin focus, and operational profile.
- Tullow Oil: LSE-listed independent E&P with operations spanning Africa and the UK North Sea. Comparable to i3 Energy as a London-listed upstream operator with multi-region asset exposure.
- Serica Energy: UK-listed upstream oil and gas company with North Sea production. Comparable to i3 Energy as a UK-listed E&P with North Sea asset exposure and similar market positioning.
Broad incumbents
- Canadian Natural Resources: Canada's largest independent crude oil and natural gas producer. Comparable to i3 Energy's Canadian asset exposure, though at vastly larger scale and with broader operations.
- Gran Tierra Energy: Acquirer of i3 Energy and a publicly listed international E&P operator with assets in Canada, Colombia, Ecuador, and Azerbaijan. Directly comparable as an upstream oil and gas producer with a similar multi-basin strategy.
- CNOOC: Major global E&P with North Sea operations through its Nexen subsidiary. Comparable as an upstream operator with UK North Sea asset exposure similar to i3 Energy's footprint.
Regional players
- Tourmaline Oil: Canadian natural gas and crude oil producer focused on Western Canada. Comparable as a Canadian E&P with conventional operations relevant to i3 Energy's Canadian asset base.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat2 records
Key risks5 records
Key highlights4 records
Customer concentration
i3 ENERGY social profiles
Digital presencei3 ENERGY financial estimates
Financial estimateRevenue estimate
Valuation estimate
i3 ENERGY leadership team
Management profileNumber of profiles
i3 ENERGY funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
i3 ENERGY M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about i3 ENERGY
What does i3 ENERGY do?
i3 Energy was an independent upstream oil and gas company engaged in the exploration, development, and production of hydrocarbon reserves, with a portfolio concentrated in the UK North Sea and Canada. The company generated revenue through the sale of produced crude oil and natural gas from its operated and non-operated upstream interests. In August 2024, i3 Energy was acquired by Gran Tierra Energy in a £175 million share-and-cash transaction, concluding its standalone operations.
Is i3 ENERGY a public or private company?
i3 ENERGY is a private company. It is classified as corporate owned and is currently acquired.
When was i3 ENERGY founded?
i3 ENERGY was founded in 2014. It employs 51 to 100 people.
Where is i3 ENERGY based?
i3 ENERGY is headquartered in Westmill, United Kingdom, in the Europe region.
Who are i3 ENERGY's main competitors?
Parkmead Group is listed as an emerging player. Direct peers are Harbour Energy, Ithaca Energy, EnQuest, Tullow Oil and Serica Energy. Broad incumbents are Canadian Natural Resources, Gran Tierra Energy and CNOOC. Tourmaline Oil is listed as a regional player.
Does i3 ENERGY have an API?
No public API is recorded for i3 ENERGY.
What industry is i3 ENERGY in?
i3 ENERGY's product category is Oil and Gas Exploration & Production. Its primary akta.pro industry code is EUAAAAAK, Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance). Its NAICS code is 2111 and its SIC code is 1311.