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 Ltd. reported significant growth in its financial performance for 2021, with total revenues rising to $42.4 million from $24.4 million in 2020, and net after-tax income increasing to $11.6 million ($0.49 per share) from $0.9 million ($0.03 per share). Adjusted EBITDA also saw an increase to $24.1 million. Average natural gas prices for the year were $2.68/Mcf, showing a substantial rise compared to 2020. The company's cash balance doubled to $27.1 million, and it plans to initiate a quarterly dividend while expanding its share repurchase program.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced its Board of Directors' approval of a quarterly cash dividend of $0.0625 per share, payable on March 31, 2022, and a one-year share repurchase program. The program allows repurchase of up to 1,183,410 shares, totaling $8 million, starting March 8, 2022. The company reported a strong financial position with no debt and significant cash reserves, indicating confidence in shareholder returns through dividends and share buybacks, aimed at enhancing shareholder value amidst favorable commodity prices.
On November 10, 2021, Epsilon Energy Ltd. (NASDAQ: EPSN) released its Q3 2021 financial results, reporting revenues of $13.1 million, significantly up from $5.8 million in Q3 2020. The company achieved cash from operations of $5.5 million and free cash flow of $3.4 million. Average realized gas prices were $3.46/Mcf, with production averaging 29.9 MMcf/d. Despite operational challenges and well shut-ins, the company maintains a strong cash position of $20.6 million. The CEO highlighted favorable pricing for natural gas and plans for further appraisal in Oklahoma.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported Q2 2021 financial results, achieving net cash from operations of $2.4 million and free cash flow of $1.2 million. Total revenues rose to $7.1 million, with EBITDA at $3.0 million. Natural gas production averaged 27.6 MMcf/d, with realized prices at $1.97/Mcf. Epsilon returned $1.1 million to shareholders through share repurchases. Despite a net loss of $0.7 million, positive developments included a successful well completion in July 2021 with production rates exceeding expectations. Cash reserves stood at $18.5 million.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the election of all nominees listed in its Proxy Statement dated May 14, 2021, as directors at the annual meeting held on June 16, 2021. The number of directors was set at eight, and BDO USA, LLP was appointed as the company's auditor. Notable election results include a high approval rate for directors, with Michael Raleigh receiving 98.06% support. Epsilon remains focused on onshore natural gas production, primarily in the Marcellus Shale of Pennsylvania.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported its Q1 2021 financial results, showcasing a net cash flow of $5.6 million and a free cash flow of $5.1 million. Revenues increased to $8.4 million, up from $6.4 million in Q1 2020. The average realized gas price was $2.57/Mcf, and net income reached $2.7 million, translating to $0.11 per share. Epsilon returned $0.5 million to shareholders via share repurchases. Despite production curtailments, the company anticipates strong demand from LNG and exports, though pipeline maintenance may impact short-term pricing.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported its 2020 financial results, noting total revenues of $24.4 million, down from $26.7 million in 2019. The company recorded a net after-tax income of $0.9 million, significantly lower than $8.7 million the previous year. Adjusted EBITDA also fell to $15.7 million from $18.0 million. Average net natural gas prices dropped from $2.18/Mcf in 2019 to $1.36/Mcf in 2020. Despite these challenges, Epsilon increased net gas production by 40% over 2019, averaging 30.0 MMcf/d.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the authorization of a share repurchase program for up to 1,193,000 common shares, representing 5% of its outstanding shares. This buyback will take place over one year, from January 1, 2021, to December 31, 2021. Epsilon plans to fund this initiative using available cash and not through debt. The company believes this repurchase is a suitable use of funds, aimed at enhancing shareholder value as the current market price may not reflect the underlying value of the shares.
Epsilon Energy Ltd. (NASDAQ: EPSN) reported its Q3 2020 financial results, with net cash from operations reaching $3.8 million. The company generated total revenues of $5.8 million, up from $5.2 million in Q3 2019, while realizing gas prices averaged $1.18/Mcf. A net loss of $0.3 million was recorded, with EBITDA at $3.9 million. Epsilon returned $9.1 million to shareholders through buybacks, reducing outstanding shares by 11.2%. The company expects to generate $9.0 - $10.0 million in free cash flow for 2020, focusing on maintaining production levels amid a positive market outlook for natural gas.
Epsilon Energy Ltd. (NASDAQ: EPSN) announced the successful election of all nominees in its Proxy Statement during the annual shareholders meeting on September 1, 2020. The board will consist of seven directors, and BDO USA, LLP has been appointed as the company's auditor. The shareholders also ratified the 2020 Equity Incentive Plan and approved amendments to the bylaws to increase the quorum requirement. Notably, John Lovoi received 98.91% approval, while Ryan Roebuck had a lower approval rate of 71.21%.
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