Epsilon Energy 2023 Marcellus Production Down 12%

Epsilon Energy issued its fourth quarter and full-year 2023 update yesterday. Epsilon, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past couple of years, the company has expanded into other plays and now owns assets in the Anadarko (Oklahoma and Texas) and the Permian (Texas and New Mexico). Epsilon typically does not do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy (in the Marcellus), and the other company does the drilling. In the Marcellus, Epsilon participated in the drilling of 7 gross (0.74 net) and completion of 2 gross (0.02 net) Marcellus wells in 2023. The completed wells went into production in January 2023. At the end of last year, the company had 1 gross (0.01 net) well being drilled and 6 gross (0.73 net) wells waiting on completion in Pennsylvania.

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