Echelon Resources Extends Kupe Gas Supply Deal With Genesis Energy
MT Newswires Live
Jun 24
Echelon Resources (ASX:ECH) amended its gas supply agreement with Genesis Energy (ASX:GNE, NZE:GNE), extending sales of Kupe gas for an additional three years, according to a Wednesday Australian bourse filing.
The revised agreement reflects current market pricing and incorporates inflation-based adjustments throughout the contract period, the filing said.
Beach Energy (ASX:BPT) operates the Kupe permit with a 50% interest, alongside Genesis Energy holding 46% and Echelon Resources holding 4%, the filing added.
Echelon Resources' shares rose past 1% in recent Wednesday trade. Genesis Energy's Australian shares gained 1%, while its New Zealand's shares shed 1%. Beach Energy's shares tumbled 4%.
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