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Echo Energy PLC - London-based energy company focused on Latin America - Provides operational update on its Santa Cruz Sur assets in Argentina for the first quarter. Compared to the fourth quarter of 2021, total net production of barrels of oil equivalent per day grows by 6% to 1,491. However, this is below the average net daily production of 1,966 it achieved in the year 2020.
In the first quarter of 2022, the company net produced 134,167 barrels of oil equivalent, falling from 152,673 a year ago.
‘Coupled with stronger prevailing commodity prices, Echo continues to build firm operational and commercial foundations as it looks to grow the business further in 2022,’ says Chief Executive Martin Hull.
Current stock price: 0.46 pence, up 4.6% on Tuesday
12-month change: down 67%
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