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IN BRIEF: Echo Energy Says Santa Cruz Compressors Deal Reduces Costs

Wed, 09th Sep 2020 17:21

Echo Energy PLC - Latin American focused upstream oil and gas - Joint-venture partners at Santa Cruz Sur blocks, Argentina buy four previously leased gas compressors for USD2.2 million. Purchase reduces gross monthly operating expenditure by around USD100,000. Echo Energy taking phased approach to bringing back wells into production at site. Expects to generate additional monthly operating revenue of USD120,000 per month by fourth quarter should brent prices reach USD45 a barrel.

Current stock price: 0.50 pence

Year-to-date change: down 78%

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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23 Apr 2018 13:43

Echo Energy Discovers Oil Following Second Well Workover

LONDON (Alliance News) - Latin America-focused oil and gas company Echo Energy PLC said Monday that it has completed the second workover of the well workover campaign on its Fraccion D asset, has

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18 Apr 2018 12:49

Echo Energy Exports First Oil Cargo From Argentinian Well

LONDON (Alliance News) - Echo Energy PLC said Wednesday it exported its first cargo of oil last Saturday from the Punta Loyola terminal, Rio Gallegos in Argentina.The oil & gas share of

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12 Mar 2018 12:04

Echo Energy Hires New Chief Operating Officer As It Progresses Bolivia

LONDON (Alliance News) - Echo Energy PLC announced Monday the appointment of a new chief operating officer, and said it has completed re-processing of seismic data for its has

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