Welcome to our dedicated page for Epsilon Energy Ltd. news (Ticker: $EPSN), a resource for investors and traders seeking the latest updates and insights on Epsilon Energy Ltd. stock.
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Epsilon Energy reported first quarter 2024 financial results with net revenue interest production totaling 2.0 Bcfe, an increase in oil and natural gas liquids production, and a decrease in natural gas production. The company experienced a decrease in total revenues and adjusted EBITDA, driven by lower throughput volumes and increased capital spending. Cash and short-term investments decreased by 53%, with $2.6 million returned to shareholders through repurchases and dividends. Epsilon's hedge book showed gains and losses on swaps, with ongoing production curtailments in response to low gas prices. Capital expenditures focused on acquisitions and drilling activities, with expected production growth in the Permian basin. The company maintains a dividend, debt-free balance sheet, and optimistic outlook for future returns on invested capital.