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.
“Our new outside Directors bring knowledge capital to Echo and the company’s new Horizon growth strategy including robust M&A initiatives with strong capital infusion expertise,” said Anne Street, Co-Owner and Chief Executive Officer. “In addition, we acknowledge the importance and commitment of ESG to our future growth planning, operations and acquisitions.”
Energy transition, transformation and digitization will impact all economic variables and mitigate disruption in the O&G value chain. Agile production, operations and business systems will augment efficiencies and reduce G&A cost.
“Echo’s Horizon strategy enables smaller O&G operators merger options to gain critical mass and reduced lifting cost. The larger ‘plays’ provides partners and investors unique options such as Joint Ventures, SPACs, ‘carve-outs’, etc. With our expanded leadership team, Echo will be a valued partner in both deal-flow and closures,” said Tompie Hall, Chief Financial Officer.
Echo Production is a 70 year old O&G producer operating in North Texas and the Fort Worth basin. Currently, the Company has production in nine north Texas counties. Anne Street and her brother Glenn Street are co-owners with family ties to the Graham family. Their grandmother, Bertha Graham Street, was the youngest daughter of the founder of Graham.