Epsilon Energy Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:16 pm EST
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Epsilon Energy Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 6.31 million compared to USD 21.24 million a year ago. Net income was USD 0.388775 million compared to USD 9.61 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.41 a year ago.
For the nine months, revenue was USD 22.17 million compared to USD 54.75 million a year ago. Net income was USD 4.35 million compared to USD 26 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 1.11 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 1.11 a year ago.
Epsilon Energy Ltd. is an onshore focused independent natural gas and oil company. The Company is engaged in the acquisition, development, gathering and production of natural gas and oil reserves. It operates through three segments: Upstream, Gathering System, and Corporate. Upstream activities segment includes acquisition, exploration, development and production of oil and natural gas reserves on properties within the United States. Gathering System segment partner with two other companies to operate a natural gas gathering system. The Company holds leasehold rights to approximately 84,684 gross (15,463 net) acres. It has natural gas production in the Marcellus Shale in Pennsylvania and oil, natural gas liquids and natural gas production in the Permian Basin in Texas and New Mexico and in the Anadarko Basin in Oklahoma. Its subsidiaries include Epsilon Energy USA Inc., Epsilon Midstream, LLC, Altolisa Holdings, LLC, and Dewey Energy Holdings, LLC.
EPSILON ENERGY LTD. 
