Epsilon Energy 2Q12 Update: Scaling Back in the Marcellus
Canadian independent driller Epsilon Energy has released its 2Q12 update. Epsilon focuses on the Pennsylvania Marcellus Shale, the Bakken Shale and Midale Dolomite in Saskatchewan, and the Brown Dense Limestone in Mississippi. Epsilon significantly scaled back its drilling activity in the Marcellus during the second quarter because of low natural gas prices. Instead, they are concentrating on oil drilling in the Bakken Shale region of Canada.
Epsilon also owns a 35% interest in the Auburn gas gathering system, located in the PA Marcellus. Relevant sections of the update pertaining to the Marcellus: