Epsilon Energy Ltd. has recently announced a significant development in its operations, as detailed in an 8-K SEC filing on October 28, 2024. The company has entered into a Participation Agreement with HWN Energy, Ltd., designated as the Operating Partner, to establish a joint venture encompassing lands in the Western Canadian Sedimentary Basin located in Alberta, Canada.
Under the terms of the agreement, Epsilon is set to acquire a 25% working interest across roughly 160,000 gross acres following a committed interest amounting to $7.3 million. This commitment includes drilling a minimum of 4 gross wells by December 1, 2025. Additionally, the Operating Partner retains an option for an extra commitment of $1.4 million across a minimum of 2 wells to be drilled by 2026.
This move marks Epsilon’s further expansion into Alberta, Canada, following previous joint ventures in the area. The company’s entry into these joint ventures aligns with its strategic emphasis on drill-focused investments with promising returns and substantial follow-on investment potential.
Epsilon Energy’s CEO, Jason Stabell, expressed enthusiasm about this new venture, emphasizing its strategic fit within the company’s investment framework. Stabell underscored the significance of these ventures in increasing Epsilon’s leasehold exposure and enhancing its liquid assets amid a proven hydrocarbon system.
About Epsilon Energy:
Epsilon Energy Ltd. is an independent exploration and production company with a North American onshore focus. The company is actively engaged in acquiring, developing, and producing oil and gas reserves, primarily operating in the Marcellus basin in Northeast Pennsylvania and the Central Basin Platform in the Permian basin.
Forward-Looking Statements:
Certain statements made in connection with this development may constitute forward-looking statements. These statements involve known and unknown risks and uncertainties that may lead to actual results differing significantly from anticipated outcomes. While based on reasonable assumptions, forward-looking statements should be approached cautiously.
For further inquiries, Epsilon Energy can be reached via phone at 281-670-0002, or through email contacts [email protected] (CEO) and [email protected] (CFO).
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Epsilon Energy’s 8K filing here.
Epsilon Energy Company Profile
Epsilon Energy Ltd., a North American onshore independent natural gas and oil company, engages in the acquisition, development, gathering, and production of natural oil and gas reserves in the United States. The company operates through Upstream and Gathering System segments. 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 Anadarko Basin in Oklahoma.
See Also
- Five stocks we like better than Epsilon Energy
- What Investors Need to Know About Upcoming IPOs
- Inflation Risk Rising, Key Trades Investors Are Making Now
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- 3 Oil Stocks to Watch Before Earnings Come Out
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Is American Express Stock’s Sell-the-News Reaction a Buying Opp?
