Echo Energy PLC - Latin American focused upstream oil & gas company - Says Santa Cruz Sur, Argentina output in first-quarter reaches 152,673 barrels of oil equivalent, net to Echo. Average net daily liquids production in March rose 24% monthly to 230 barrels per day. Echo adds: "Domestic energy demand in Argentina has continued to improve through 2021 to date, and the company has recently sold a significant domestic cargo of 8,812 barrels of oil net to Echo, at the Punta Loyola terminal, with a price linked to the Brent benchmark subject to typical local discount." Says will sell natural gas at average price of USD3.52 per metric million British thermal unit between May to September, compared to USD1.35 in prior year.
Current stock price: 1.15 pence, up 4.6% on Monday
Year-to-date change: up more than double from 0.55p.
By Eric Cunha; ericcunha@alliancenews.com
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Echo Energy (ECHO)