HOUSTON, June 20, 2023 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported the final closing of an investment in Ector County, Texas.
Epsilon closed on a 25% working interest on the 11,076 acre position previously mentioned in the press release dated May 16, 2023. The Company now holds a 25% working interest in 12,373 gross acres located in Ector County, Texas, operated by a Midland-based private operator.
The total consideration net to Epsilon for the investment, including estimated 2023 capital expenditures, is approximately $14 million.
Epsilon Energy Ltd. is a North American on-shore focused independent exploration and production company engaged in the acquisition, development, gathering and production of oil and gas reserves. Our primary area of operation is the Marcellus basin in Northeast Pennsylvania complemented by additional upstream assets in the Permian and Anadarko basins. For more information, please visit www.epsilonenergyltd.com, where we routinely post announcements, updates, events, investor information, presentations and recent news releases.
Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated. Forward-looking statements are based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
Chief Executive Officer
Chief Financial Officer