Epsilon Energy Ltd. Reports Production Results for the Year Ended December 31, 2014; Provides Earnings Guidance for 2015
March 03, 2015 at 02:36 am
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Epsilon Energy Ltd. reported production results for the year ended December 31, 2014. For the year, the company reported net production of 14.8 Bcf and 13% year over year growth in reserves.
The company provided corporate capex guidance of up to $20 million for 2015, $8.6 million budgeted for ongoing development of midstream system, $1.0 million allocated to completing 14 gross (0.14 net) drilled wells and remaining capital considered discretionary budget to add additional wells.
The company forecasts 2014 EBITDA range of $36 million to $38 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. 
