Epsilon Energy 4Q – Production Slips but Profits Up 10%

Epsilon Energy concentrates most of its effort on developing Marcellus Shale wells in Susquehanna County, PA. Epsilon typically does not do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy, and the other company typically does the drilling. Epsilon issued its fourth quarter and full-year 2022 update last week. The company’s net gas production was 2.49 Bcf (billion cubic feet) in total, not per day, during 4Q22. That number is down 3% from 2.58 Bcf in 3Q21. Epsilon generated revenues of $15.2 million for 4Q22, compared to $13.8 million in 4Q21--up 10%.

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