Epsilon Energy Stock Price, News & Analysis

Epsilon Energy Ltd. (NASDAQ: EPSN) announced the election of all nominees listed in its Proxy Statement dated May 14, 2021, as directors at the annual meeting held on June 16, 2021. The number of directors was set at eight, and BDO USA, LLP was appointed as the company's auditor. Notable election results include a high approval rate for directors, with Michael Raleigh receiving 98.06% support. Epsilon remains focused on onshore natural gas production, primarily in the Marcellus Shale of Pennsylvania.

Epsilon Energy Ltd. (NASDAQ: EPSN) reported its Q1 2021 financial results, showcasing a net cash flow of $5.6 million and a free cash flow of $5.1 million. Revenues increased to $8.4 million, up from $6.4 million in Q1 2020. The average realized gas price was $2.57/Mcf, and net income reached $2.7 million, translating to $0.11 per share. Epsilon returned $0.5 million to shareholders via share repurchases. Despite production curtailments, the company anticipates strong demand from LNG and exports, though pipeline maintenance may impact short-term pricing.

Epsilon Energy Ltd. (NASDAQ: EPSN) reported its 2020 financial results, noting total revenues of $24.4 million, down from $26.7 million in 2019. The company recorded a net after-tax income of $0.9 million, significantly lower than $8.7 million the previous year. Adjusted EBITDA also fell to $15.7 million from $18.0 million. Average net natural gas prices dropped from $2.18/Mcf in 2019 to $1.36/Mcf in 2020. Despite these challenges, Epsilon increased net gas production by 40% over 2019, averaging 30.0 MMcf/d.

Epsilon Energy Ltd. (NASDAQ: EPSN) announced the authorization of a share repurchase program for up to 1,193,000 common shares, representing 5% of its outstanding shares. This buyback will take place over one year, from January 1, 2021, to December 31, 2021. Epsilon plans to fund this initiative using available cash and not through debt. The company believes this repurchase is a suitable use of funds, aimed at enhancing shareholder value as the current market price may not reflect the underlying value of the shares.

Epsilon Energy Ltd. (NASDAQ: EPSN) reported its Q3 2020 financial results, with net cash from operations reaching $3.8 million. The company generated total revenues of $5.8 million, up from $5.2 million in Q3 2019, while realizing gas prices averaged $1.18/Mcf. A net loss of $0.3 million was recorded, with EBITDA at $3.9 million. Epsilon returned $9.1 million to shareholders through buybacks, reducing outstanding shares by 11.2%. The company expects to generate $9.0 - $10.0 million in free cash flow for 2020, focusing on maintaining production levels amid a positive market outlook for natural gas.

Epsilon Energy Ltd. (NASDAQ: EPSN) announced the successful election of all nominees in its Proxy Statement during the annual shareholders meeting on September 1, 2020. The board will consist of seven directors, and BDO USA, LLP has been appointed as the company's auditor. The shareholders also ratified the 2020 Equity Incentive Plan and approved amendments to the bylaws to increase the quorum requirement. Notably, John Lovoi received 98.91% approval, while Ryan Roebuck had a lower approval rate of 71.21%.

HOUSTON, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (NASDAQ: EPSN) announced CEO Michael Raleigh will participate in the virtual Midwest IDEAS Investor Conference on August 27, 2020. The presentation will be available at 8:00 am CST and can be accessed on the company’s website and through the conference website.

Epsilon is focused on onshore natural gas production, particularly in the Marcellus Shale of Pennsylvania and the Anadarko Basin in Oklahoma.

Epsilon Energy Ltd. (NASDAQ: EPSN) reported Q2 2020 results showing a net cash flow from operations of $3.1 million and total revenues of $6.3 million, down from $6.8 million in Q2 2019. The company experienced a net loss of $0.6 million, compared to a net income of $3.8 million last year. Free cash flow reached $1.3 million, with an exit production rate of 39.6 MMcf/d. Despite challenges, Epsilon anticipates generating $9.0 - $10.0 million in free cash flow for the year. However, a bad debt allowance of $0.82 million from a bankrupt shipper poses uncertainties.

Epsilon Energy Ltd. (NASDAQ: EPSN) has completed its tender offer, purchasing 2,337,034 shares at US$3.06 each, totaling US$7.15 million. The offer was to buy back up to 2 million shares, which represented approximately 8.9% of its outstanding shares. After the transaction, 23,796,634 shares will remain outstanding. Epsilon funded the buyback with cash on hand, and any improperly tendered shares will be returned to their owners. The specified amount for tax purposes per share is US$3.01.