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New Zealand Oil & Gas Limited ( (AU:ECH) ) has issued an update.
Echelon Resources Limited reported a strong performance in the fourth quarter of 2024, with significant advancements in its drilling activities and strategic agreements. Key highlights include outperforming Mereenie drilling results and a 23% increase in Amadeus production receipts. The company also enhanced its Gas Sales Agreements, ensuring long-term revenue stability with the Northern Territory Government. Echelon signed a drilling contract in the Perth Basin and completed preparatory work for new developments at the Mereenie field, exceeding initial production expectations. Despite an unplanned outage at the Kupe field, operations were promptly restored, indicating robust operational resilience.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited operates within the oil and gas industry, focusing on exploration and production activities. The company is involved in the extraction of oil and gas, with a notable emphasis on its operations in the Amadeus Basin and other strategic locations such as the Perth Basin. Echelon Resources is recognized for its strong production volumes and strategic agreements, positioning itself as a reliable energy provider in the market.
YTD Price Performance: 0.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $55.19M
For detailed information about ECH stock, go to TipRanks’ Stock Analysis page.
