Epsilon Energy Becoming “Domesticated” – Moving from Canada to U.S.

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domesticated cattle in the ancient world
One definition for the word "domestication" means to tame a wild animal, turning it into a farm animal. Another definition means "to bring into use in one's own country : to bring into domestic use" (Merriam-Webster). It is that later definition Epsilon Energy had in mind when using the term "domestication" to describe a vote by the company's shareholders to move Epsilon's base of operations/HQ from Canada to the United States. From time to time we check in Epsilon, both a driller and midstream/pipeline company. Epsilon, largely focused on the Marcellus, had a shareholder rebellion in 2013 and threw out the sitting board of directors (see Shareholder Rebellion at Epsilon Energy – New Board as of Today). Epsilon CEO Michael Raleigh announced at the time that the company had embarked on a turnaround strategy of focusing on the Marcellus Shale--less than a year after saying they would scale back in the Marcellus (see Epsilon Energy Makes “About-Face” on Marcellus Drilling). Epsilon has been and remains a relatively small player in the Marcellus. Last year they bought leases in the Anadarko Basin in Oklahoma (see Epsilon Energy: “Focused” on Marcellus, Buying Land in Anadarko). In a recent vote, shareholders voted 99.99% in favor of moving the company from Canada to Houston, TX. Epsilon, in their own press release, called the move "domestication"--which we found amusing. The wild beast of Canada will be tamed and domiciled in Texas--in order to drill in the Marcellus and Oklahoma. Too bad Pittsburgh couldn't tame this wild beast. There's plenty of empty office space in Southpointe...

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