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.
Epsilon Energy Ltd. (Symbol: EPSN) is a North American exploration and production company primarily involved in the acquisition, development, gathering, and production of natural gas and oil reserves. The company operates predominantly in two major regions: the Marcellus Shale in the United States and the Canadian Bakken. Epsilon's core business revolves around three segments: Upstream, Gas Gathering, and Corporate.
The Upstream segment is central to Epsilon's operations, focusing on the acquisition, development, and production of natural gas reserves in the United States. This segment is responsible for locating and extracting resources, ensuring a steady supply to meet market demands.
The Gas Gathering segment involves a partnership with two other companies to operate an extensive natural gas gathering system. This system efficiently transports natural gas from production sites to processing facilities, which is crucial in maintaining the supply chain.
Lastly, the Corporate segment encompasses the company’s corporate listing and governance functions, ensuring compliance with industry regulations and standards.
Epsilon Energy generates its revenue through the sale of crude oil and natural gas, leveraging its efficient and integrated operations to maximize profitability. The company is committed to maintaining a robust financial condition, enabling ongoing investments in new projects and technologies.
Recently, Epsilon Energy has announced several significant developments. Stakeholders can view the latest webcasts on the company's website to stay informed about these updates. For instance, a webcast can be viewed at this link, with a replay available afterward.
Furthermore, Epsilon has initiated a one-year share repurchase program, demonstrating its dedication to returning value to its shareholders. The company also maintains a current hedge book to manage financial risks effectively.
For more details and to stay updated on Epsilon Energy Ltd.’s latest news and events, visit their official website.
Epsilon Energy has announced two strategic joint ventures in Alberta, Canada. The first partnership covers 30,000 gross acres in Garrington and 130,000 gross acres in Harmattan areas, with Epsilon earning a 25% working interest. The investment involves up to $12 million CAD development carry, targeting liquids-focused formations with over 25 2-mile locations in the Mannville.
The second joint venture in the Killam area includes a 50% working interest in 14,000 gross acres for $1.4 million CAD, with commitment to participate in two wells during 2024. One well has yielded a commercial discovery, while the second faced mechanical issues.
Epsilon Energy (NASDAQ: EPSN) has scheduled its third quarter 2024 earnings release for Wednesday, November 06, 2024, after market close. The company will host a conference call to discuss financial and operating results on Thursday, November 7, 2024, at 2:00 p.m. Central Time. U.S. and Canadian participants can join toll-free at (833) 816-1385, while international participants can dial (412) 317-0478. A webcast will be available, and a replay will be accessible on the company's website.
Epsilon Energy (NASDAQ: EPSN) has declared a quarterly dividend of $0.0625 per share of common stock. This translates to an annualized dividend of $0.25 per share. The dividend will be paid on September 30th, 2024, to shareholders of record as of the close of business on September 13th, 2024. Epsilon Energy confirms that all dividends paid by the company are considered 'eligible dividends' as defined by Canadian tax law, unless otherwise stated. This announcement demonstrates the company's commitment to returning value to shareholders through regular dividend payments.
Epsilon Energy (NASDAQ: EPSN) reported its Q2 2024 financial results, showing mixed performance. Total revenues increased 12% year-over-year to $7.3 million, despite a 9% decrease quarter-over-quarter. The company saw significant growth in oil production and revenue, with oil revenues up 236% year-over-year. However, natural gas production and revenues declined due to curtailments and deferred well completions. Adjusted EBITDA decreased 6% year-over-year to $3.9 million.
Epsilon returned $1.4 million to shareholders through dividends and realized gains on hedges. The company completed one well and drilled another in Texas during Q2. Cash and short-term investments stood at $9.5 million, down 74% year-over-year. Epsilon's CEO highlighted strong performance from Permian assets and potential upside in Marcellus assets for 2025.
Epsilon Energy (NASDAQ: EPSN) has announced its schedule for the second quarter 2024 earnings release and conference call. The company will release its Q2 2024 earnings on Tuesday, August 13, 2024 after market close. A conference call to discuss financial and operating results is scheduled for Wednesday, August 14, 2024 at 9:30 a.m. Central Time (10:30 a.m. Eastern Time).
Interested parties can participate in the call toll-free by dialing (833) 816-1385 in the US and Canada, or (412) 317-0478 for international callers. A webcast of the call will be available at a provided link, with a replay accessible on the company's website afterward.
Epsilon Energy (NASDAQ: EPSN) announced an increase in its borrowing base to $45 million, following a redetermination by Frost Bank effective June 21, 2024. This increase includes new properties acquired and developed in Ector County, Texas. Additionally, Epsilon provided updates on its Permian Basin operations, highlighting the Ava well's performance, which averaged 1,290 BOEPD over 25 days, surpassing pre-drill estimates. Completion operations for the Katy well are underway, with flow-back expected next month. Epsilon holds a 25% working interest in the Pradera Fuego project.
Epsilon Energy (NASDAQ: EPSN) has declared a quarterly dividend of $0.0625 per share of common stock, totaling $0.25 annualized. Shareholders of record by June 14, 2024, will receive the dividend payment on June 28, 2024.
The dividends qualify as 'eligible dividends' under subsection 89(1) of the Income Tax Act of Canada. Epsilon Energy is a North American onshore natural gas and oil production and gathering company with operations in Pennsylvania, Texas, New Mexico, and Oklahoma.
Epsilon Energy (NASDAQ: EPSN) held its annual general meeting (AGM) on May 15, 2024. During the AGM, shareholders elected all six director nominees proposed by management. Key voting results included the re-appointment of BDO USA, LLP as auditors for 2024 and approval of the 2023 executive compensation. The elected directors and their voting percentages were: John Lovoi (95.48%), Jason Stankowski (99.69%), David Winn (99.66%), Tracy Stephens (95.18%), Jason Stabell (99.14%), and Nicola Maddox (96.26%).
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.
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