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.
On March 8, 2023, Epsilon Energy Ltd. (NASDAQ: EPSN) announced a dividend of $0.0625 per common share, totaling an annualized $0.25 per share, for stockholders of record as of March 15, 2023. The dividend is payable on March 31, 2023. Additionally, the company will release its 2022 year-end earnings on March 23, 2023, after market close, followed by a conference call on March 24, 2023, at 10:00 AM CT. This event can be accessed toll-free in North America or via an international dialing option, with a subsequent webcast replay available on their website.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced a dividend of $0.0625 per common share, amounting to an annualized rate of $0.25/share, payable to shareholders on December 30, 2022. Shareholders of record by December 15, 2022, will be eligible for this dividend, which qualifies as an eligible dividend under Canadian tax law. Additionally, the company disclosed that Matthew Dougherty has resigned from the Board of Directors, effective immediately, without any operational disagreements. The board expressed gratitude for his nine years of service.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported a strong third quarter for 2022, with net income of $9.6 million, a 7% increase in total revenues to $21.2 million, and Adjusted EBITDA at $16.5 million.
The company maintained production levels at 27.6 MMcfe/d and achieved a heightened price of $7.54/Mcfe. Additionally, Epsilon generated $11.2 million in free cash flow, increased cash reserves to $40.8 million, and returned $3.1 million to shareholders through share buybacks and dividends.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the timing for its third quarter 2022 earnings release, set for November 10, 2022, post-market close. The Company will host a conference call on November 11, 2022, at 10:00 a.m. CT to discuss financial and operational results. U.S. and Canadian participants can join toll-free, while international callers will have a separate line. A webcast of the call will also be available on the Company’s website, providing an accessible option for interested stakeholders.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced a quarterly dividend of $0.0625 per common share, totaling $0.25 annually, to shareholders on record by September 15, 2022, payable on September 30, 2022. Additionally, the company has repurchased 283,000 shares at an average price of $5.86 per share in its ongoing share buyback program, with 203,310 shares remaining. Epsilon's Koromlan 107HC well in Pennsylvania commenced production on August 12, 2022, exceeding performance expectations, and the company holds a 16% net revenue interest.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the election of all nominees listed in its Proxy Statement during the annual shareholders meeting on August 24, 2022. The board will consist of eight directors, with the appointment of BDO USA, LLP as the auditor. Notably, John Lovoi and Jason Stabell received over 96% approval, while Matthew Dougherty had 55.82% support, indicating varied shareholder confidence. Epsilon continues to focus on natural gas production in the Marcellus Shale of Pennsylvania.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported strong second quarter 2022 results, with total revenues of $19.9 million, a 46% increase from the previous year. Natural gas production averaged 27.4 MMcfe/d, with realized prices at $6.81/Mcf. Adjusted EBITDA rose to $15.6 million, while net income reached $10.6 million or $0.45/share. Epsilon returned $6.1 million to shareholders through share repurchase and dividends, maintaining a debt-free status with $30.9 million in cash. The company is well-positioned for further investments and growth opportunities in the second half of 2022.
Epsilon Energy Ltd. announces the appointment of Jason Stabell as CEO and Andrew Williamson as CFO, effective July 1, 2022. This change includes the resignation of current CEO Mike Raleigh, and the retirement of CFO Lane Bond, who will transition to a consulting role. Stabell and Williamson have over a decade of joint experience in the energy sector, and the Board expects their leadership to enhance shareholder returns and maintain prudent capital management. Raleigh’s leadership left Epsilon debt-free and with strong free cash flow.
Epsilon Energy Ltd. (NASDAQ: EPSN) has declared a dividend of $0.0625 per share, with an annualized rate of $0.25. The dividend will be payable on June 30, 2022, to stockholders of record by June 15, 2022. During the quarter, the company repurchased 259,300 shares at a cost of $1.8 million. Recently completed wells in Oklahoma have exceeded performance expectations, achieving payout in under six months. Epsilon anticipates significant cash generation and holds a current cash balance of approximately $31 million with no outstanding debt.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported strong first quarter 2022 results, with revenues of $13.6 million, nearly doubling from $8.4 million in Q1 2021. The company achieved EBITDA of $9.3 million, up from $5.4 million a year ago, and net income of $5.8 million, or $0.25 per share. Free cash flow was $4.8 million, and cash at quarter-end was $30.1 million. Notable realized natural gas prices reached $4.55/Mcf. The company invested $2.5 million in capital expenditures while maintaining a debt-free status, and produced significant volumes through its Auburn Gathering System.
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