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A new player is arriving in Dallas-Fort Worth and it’s on the hunt for distressed energy deals
Echo Production is rolling out a two-year plan to remain an oil and gas independent.
An independent Texas oil and gas company on the hunt for distressed energy assets will relocate its headquarters to Dallas-Fort Worth this year as it shops for deals in the $50 million to $100 million range.
Echo Production Inc., which is in Graham, about 90 miles northwest of Fort Worth, said it sees today’s unsettled energy market as the time to strike, and it’s appointing three outside experts to its board of directors to assist with its two-year growth strategy dubbed “Horizon.”
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GRAHAM, Texas, Feb. 9, 2021 /PRNewswire/ Echo Production, Inc., an independent oil and gas company located in Graham, Texas, has appointed the following energy experts as outside Directors to the Company s Board of Directors:
Kevin Hughes - KPMG Partner (retired), Dallas, Texas
Matthew Brown - HGM Private Equity EVP, Santa Monica, California
Adam Plumbley - Jackson Walker Partner, Fort Worth, Texas
With addition of the new members, Echo s Board will be increased to six Directors.
In today s O&G industry, many companies are at risk due to steep decline in petroleum long-term demand. The next decade will require companies to be nimble, consolidate, downsize CAPEX and leverage financial engineering to survive and grow. Based on these challenges, Echo has implemented its new Horizon growth strategy. With a focus on rapid scalability, Horizon provides a blueprint for accelerated growth.