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Epsilon Energy achieves production milestone in Marcellus


Published Jan 25, 2012
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Epsilon enters into participation agreement in Bakken oil play

Epsilon Energy Ltd. report that net production from the JV with Chesapeake Energy Corporation in Susquehanna County, PA, has reached 28 MMCF/D.

The achievement of this milestone, originally anticipated to occur by December 31st, 2011, was delayed slightly due to the operational challenges posed by the flooding in northeast PA in September 2011.

Epsilon anticipates the 400 MMCF/D gas gathering system in Pennsylvania to be complete and fully operational by the second half of 2012. Epsilon's 35% ownership of this system will contribute significantly to the Company's future revenues and operational cash flows.

Epsilon also expects significant oil production growth in 2012 from its drilling activities in Saskatchewan with operator Spartan Oil Corporation. The Company will provide more detailed updates on drilling results as they become available.

Tags: Epsilon Energy Ltd



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