Epsilon Energy 2Q: $1.3M in Free Cash Flow, Revenue Down a Tad
Epsilon Energy concentrates most of its effort on the Marcellus in Susquehanna County, PA. Epsilon doesn’t actually do any of its own drilling. The company partners with (gives money to) other companies, like Chesapeake Energy, and the other company does the actual drilling. Epsilon, according to its website, owns ~4,000 net acres in the PA Marcellus. They also own assets in Oklahoma’s Anadarko Basin. Last week the company issued its second-quarter 2020 update.
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Last week Energy Transfer’s Mariner East 2X pipeline experienced an “inadvertent return”–nontoxic drilling mud coming up out of the ground where it’s not supposed to–in Chester County, PA (see 
In July 2018 Eagle LNG officially opened its Maxville, Florida (suburb of Jacksonville) liquefaction facility to first liquefy then transport LNG to Crowley’s new LNG bunkering facility at the Port of Jacksonville (Jaxport) where the LNG is used to fuel two Crowley LNG-powered ships designed to carry both containerized and roll-on/roll-off cargo (see 
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While drilling in Chester County earlier this week in the Marsh Creek State Park, Energy Transfer’s Mariner East 2X pipeline experienced an “inadvertent return”–nontoxic drilling mud coming up out of the ground where it’s not supposed to (see 
At a ceremony in Pittsburgh yesterday, federal EPA (Environmental Protection Agency) Administrator Andrew Wheeler unveiled two new rules for the oil and natural gas industry that removes ineffective and duplicative methane detection requirements while streamlining others. Just before the Obamadroids left office, the Obama EPA slapped onerous and costly new regulations on methane emissions that don’t do anything but cost companies money. They certainly didn’t do anything to help the precious environment. Yesterday, after several years in the making, the EPA fixed the Obama overregulation issue with respect to methane emissions.
In June MDN told you that a New York City law firm was “investigating” Cabot Oil & Gas with an eye to filing a class action lawsuit, on behalf of investors, over false allegations made by the Pennsylvania Attorney General who had filed felony charges against Cabot regarding a long-closed regulatory issue in Dimock, PA (see 
Another week, another look at the rig count. The onshore rig count continues to bump along near the bottom of historic lows. It’s not AT the bottom (thank God), but it does continue to flirt with low numbers. According to Enverus, which tracks rigs using GPS units, the count bottomed at the beginning of July with 264 active rigs. Since then it’s risen and currently stands around 280 rigs. Week to week it goes up and it goes down, but not down significantly. According to Enverus, the count lost a rig last week.
Looks like top management at Chesapeake Energy getting millions in bonuses just before declaring bankruptcy isn’t the only company to engage in this disgusting practice (see 
Ascent Resources, originally founded as American Energy Partners by gas legend Aubrey McClendon, is a privately-held company that focuses 100% on the Ohio Utica Shale. Ascent is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. The company issued its second-quarter 2020 update yesterday. The company added another 25 wells to production in 2Q and produced 2.1 billion cubic feet equivalent per day (Bcfe/d), a new company high. Unfortunately, the financial picture was not as rosy…
Anti-fossil fuelers are on a holy mission to stop a 3.37-mile, 8-inch pipeline from being built under the Potomac River by Columbia Gas (see 
Eastern Shore Natural Gas Company (ESNG), a subsidiary company of Chesapeake Utilities Corporation (a company