Alpine Summit Energy Partners, Inc. announced that it received notice of a force majeure from its major midstream provider in South Texas which began on April 13, 2023 and continues to restrict production. The force majeure event is attributed to unplanned outages at facilities downstream of the system, with the result that capacity on the system has been limited and the Company's located volumes in that area have been reduced by approximately 70%. The notice did not provide a timeline for resolution of this issue.

Although the midstream provider anticipates that these downstream matters will be resolved shortly, the prolonged downtime will have a significant impact on the Company's results in the second quarter of 2023.