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New Zealand Oil & Gas Limited ( (AU:ECH) ) has provided an update.
Echelon Resources has entered 2026 with new gas sale contracts for its Mereenie and Palm Valley fields at higher realised prices and has reached a non-binding, conditional agreement with Power and Water Corporation for long-term gas sales out to 2034, covering up to 22.5 petajoules of firm volumes net to the group from existing production. To support these commitments, the company is advancing plans to drill four new wells in the Amadeus Basin from mid‑2026, targeting up to 13.3 petajoules of additional supply, while continuing development and optimisation at its Mahato project in Indonesia; despite a 1.8% quarter-on-quarter production decline to 407,252 boe, Echelon further deleveraged its balance sheet with a A$7 million loan repayment, retaining substantial undrawn debt capacity to fund approved development and growth opportunities.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited is an oil and gas producer with core operations in Australia’s Amadeus Basin, including the Mereenie and Palm Valley fields, and additional production and development activities in Indonesia’s Mahato block. The company focuses on conventional gas and oil production, supplying contracted gas to domestic customers and pursuing targeted development drilling and seismic work to underpin long‑term sales agreements and growth.
Average Trading Volume: 12,934
Technical Sentiment Signal: Sell
Current Market Cap: A$77.26M
For an in-depth examination of ECH stock, go to TipRanks’ Overview page.