Martin Hull31 Mar 2021 09:48
Martin Hull, Echo's Chief Executive Officer, commented:
"I am delighted that Echo has now successfully completed the restructuring of its debt obligations. The new arrangements result in no cash payments to Noteholders until maturity in 2025. This enables the Board to focus on rapidly delivering on its strategy to improve SHAREHOLDER returns.
Commodity price strength, including the very material increases in gas price recently announced, combined with the more than doubling of oil production following the ongoing infrastructure upgrades, provide a markedly improved and positive outlook for SHAREHOLDERS.
This is a landmark moment for Echo and I am confident that we can now drive forward and reward SHAREHOLDERS in the future."