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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Epsilon Energy Ltd | NASDAQ:EPSN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.40 | 5.25 | 5.70 | 0 | 12:00:00 |
Michael Raleigh, CEO, commented, “After 30 days of production on each of the two (0.55 Net to EPSN) recently completed wells in our Oklahoma project we are excited to report that the average performance of the wells exceeded our expected type curve, and, at current commodity prices, will achieve payout in less than six months. To date the Company has participated in four wells (1.15 Net) in the region and the average performance has exceeded the expected type curve performance. The team is currently evaluating other locations within our existing inventory to drill and complete this year.
In the Marcellus, we expect the operator to complete the previously drilled well (0.18 Net to EPSN) in the third quarter of 2022.
Based on current strip prices, the company anticipates building significant incremental cash for the balance of the year. The current cash balance is approximately $31 million and the company has no outstanding debt.”
About Epsilon
Epsilon Energy Ltd. is a North American on-shore focused independent exploration and production company engaged in the acquisition, development, gathering and production of oil and gas reserves. Our primary area of operation is the Marcellus basin in northeast Pennsylvania. Our assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs. For more information, please visit www.epsilonenergyltd.com, where we routinely post announcements, updates, events, investor information, presentations and recent news releases.
Contact Information:
281-670-0002
Michael RaleighChief Executive OfficerMichael.Raleigh@EpsilonEnergyLTD.com
1 Year Epsilon Energy Chart |
1 Month Epsilon Energy Chart |
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