Epsilon Energy Ltd. Announces Operating Results for the Year Ended December 31, 2013; Provides Capex Guidance for 2014
February 04, 2014 at 11:25 pm
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Epsilon Energy Ltd. announced operating results for the year ended December 31, 2013. For the year, proven and probable (2P) reserves were 175.3 Bcf and December 2012 proven and probable (2P) reserves were 167.5 Bcf. Full year 2013 net production was 13 Bcf. Average 2P EUR for producing wells estimated at 8.2 Bcf.
The company provided capex guidance for 2014. The company forecasts corporate capex guidance of approximately $20 million.
Epsilon Energy Ltd. is an onshore focused independent natural gas and oil company. The Company is engaged in the acquisition, development, gathering and production of natural gas and oil reserves. It operates through three segments: Upstream, Gathering System, and Corporate. Upstream activities segment includes acquisition, exploration, development and production of oil and natural gas reserves on properties within the United States. Gathering System segment partner with two other companies to operate a natural gas gathering system. The Company holds leasehold rights to approximately 84,684 gross (15,463 net) acres. It has natural gas production in the Marcellus Shale in Pennsylvania and oil, natural gas liquids and natural gas production in the Permian Basin in Texas and New Mexico and in the Anadarko Basin in Oklahoma. Its subsidiaries include Epsilon Energy USA Inc., Epsilon Midstream, LLC, Altolisa Holdings, LLC, and Dewey Energy Holdings, LLC.
EPSILON ENERGY LTD. 
