i3 Energy completed the acquisition of petroleum and infrastructure assets of Gain Energy for $59m.

i3 Energy, an independent oil and gas company with assets and operations in the UK, completed the acquisition of petroleum and infrastructure assets of Gain Energy, a private Canadian company with operations in the Western Canadian Sedimentary Basin, for $59m. A major attraction of the transaction is Gain's interest in the oil-producing Weyburn unit, the fourth largest carbon capture, utilization and storage project in the world. For Gain's interest, the amount of CO2 annually sequestered is estimated to offset approximately 18k boepd of scope 1 greenhouse gas emissions.