Epsilon Energy Net Revenue Interest Total Production 9.0 Bcfe For The Year Ended December 31, 2023; Average Realized Price Of $2.34 Per Mcfe Down 62% YoY
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Epsilon Energy (EPSN) reported a net revenue interest total production of 9.0 Bcfe for 2023, with a significant decrease in average realized price per Mcfe by 62% YoY. Natural gas production decreased by 12%, while oil production increased by 103%. The average realized prices for natural gas, oil, and natural gas liquids also saw declines compared to 2022.
March 21, 2024 | 7:11 am
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Epsilon Energy reported a mixed production performance for 2023, with a notable decrease in average realized prices for its products, impacting revenue negatively.
The significant decrease in average realized prices, especially a 70% drop for natural gas, coupled with a 12% decrease in natural gas production, suggests a negative impact on EPSN's revenue and potentially its stock price in the short term. However, the increase in oil production may partially offset these negative effects.
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