Epsilon Energy 3Q – Production & Profits Slide in the Marcellus
Epsilon Energy, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past year or so, 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 typically does the drilling. The company’s net gas production during 3Q23 was 2.0 Bcfe (billion cubic feet equivalent) in total, NOT per day. That amounts to an average of 21.5 MMcfe/d (million cubic feet per day), down 14% compared to 2Q23 due to seven PA wells being offline for workover operations. Epsilon generated revenues of $6.3 million for 3Q23, down 3% from 2Q23.
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Last Friday, MDN brought you the news that CNX Resources CEO Nick DeIuliis had signed a voluntary deal with Pennsylvania Gov. Josh Shapiro to expand drilling setbacks and several other regulatory steps not mandated for shale drillers under PA law (see 
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On Friday, MDN brought you the news that CNX Resources CEO Nick DeIuliis had signed a voluntary deal with Pennsylvania Gov. Josh Shapiro to expand drilling setbacks and several other regulatory steps not mandated for shale drillers under PA law (see 
We have to confess this news came suddenly out of left field. And we’re still struggling with what to make of it. Yesterday, CNX Resources CEO Nick DeIuliis, author of 
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The so-called 
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