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Stock impact report

Epsilon Announces and Closes an Acquisition in the Permian Basin [Financial Post (Toronto, Ontario, Canada)]

Epsilon Energy Ltd. - Common Shares (EPSN) 
Company Research Source: Financial Post
reported and closed an additional investment in Ector County, Texas adding to crude oil production and near-term development. Epsilon is pleased to announce the closing of a third transaction in the Permian Basin over the last twelve months, and the second with a Midland-based private operator focused on Mississippian development in Ector County, Texas on the Central Basin Platform. Article content Article content The acquired assets are a 25% working interest in 3 producing wells and 3,246 gross undeveloped acres. The assets are directly offset to the Company's existing assets in the play (together, the “ Pradera Fuego Project ” or “ Pradera ”). The three producing wells were drilled from Q1 2022 through Q3 2023 and are collectively producing over 1,500 BOEPD gross. Drilling operations have commenced on a fourth well on the acquired position, a 2.5 mile lateral, offsetting the best performing producing well. Plans are in place to drill and complete at least two additional Show less Read more
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