DGO, Echo – And finally…
Echo has announced that it has received a waiver from the minority co-owner of the Santa Cruz Sur Assets in relation to the acquisition. Meanwhile it is not long until the company starts to drill in the Tapi Aike prospect and for those unfamiliar with it I have put the link to their video below.
Diversified Gas & Oil
DGO has announced that it has sold a parcel of recently acquired non-producing assets in Monroe County, Ohio for $10m in cash. The assets were part of a package acquired from EdgeMarc Energy and takes the cost of the deal down to c. $38m. Perhaps more importantly it proves that DGO are efficiently managing their portfolio whilst continuing to look at accretive acquisitions possibly where they can manage a new portfolio and reduce the costs of a deal by smart re-financing.