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New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an announcement.
Echelon Resources Limited announced the successful drilling and completion of the West Mereenie-29 development well, with plans to tie it into the Mereenie Production Station by late January. The subsequent well, West Mereenie-30, has also been initiated. These developments in the Mereenie Joint Venture are expected to boost production capacity and support long-term gas supply commitments to the Northern Territory and East Coast markets, reflecting Echelon’s sustained contribution to the energy sector.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited is an energy commodity exploration and production company headquartered in Wellington, New Zealand, focusing on the Australasia region. The company is dedicated to ethical development and exploration activities, maintaining high ESG standards. Its portfolio includes onshore and offshore oil and gas assets in Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited.
YTD Price Performance: 0.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $46.4M
Learn more about ECH stock on TipRanks’ Stock Analysis page.
