Epsilon Energy Ltd. Announces Quarterly Dividend And Provides Operational Update
Portfolio Pulse from Benzinga Newsdesk
Epsilon Energy Ltd. (NASDAQ:EPSN) declared a quarterly dividend of $0.0625 per share, payable on December 29, 2023, to shareholders of record as of December 15, 2023. The company also provided an operational update, reporting that two recently completed wells in Ector County, Texas, have produced approximately 71,000 BOE, with current output over 2,500 BOEPD. Epsilon holds a 25% working interest and 18.75% net revenue interest in these wells. Additionally, in Pennsylvania, three of seven proposed wells are drilled, with the rest expected to be completed in the first half of 2024, which is anticipated to significantly increase NRI production from the Auburn area.
December 04, 2023 | 2:54 pm
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Epsilon Energy Ltd. announced a quarterly dividend and provided a positive operational update, indicating strong production from its Texas wells and ongoing drilling in Pennsylvania expected to increase production in 2024.
The announcement of a dividend is typically viewed positively by investors as it reflects the company's profitability and cash flow stability. The operational update suggests that Epsilon's production is exceeding expectations, which could lead to increased revenue and profitability in the short term. This news is likely to be taken positively by the market, potentially leading to a short-term increase in EPSN's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100