Epsilon Says Recently Completed Ava Well In Texas Is The Best Performer In Pradera Fuego Project So Far
Portfolio Pulse from Benzinga Newsdesk
Epsilon Energy (EPSN) announced that the recently completed Ava well in Texas is the best performer in the Pradera Fuego project so far. The well has averaged 1,290 BOEPD over the last 25 days, outperforming pre-drill estimates. The company's borrowing base has been redetermined at $45 million, effective June 21, 2024.
June 25, 2024 | 8:49 pm
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Epsilon Energy's Ava well in Texas has outperformed pre-drill estimates, averaging 1,290 BOEPD. The company's borrowing base has been redetermined at $45 million, reflecting the value of the new properties.
The Ava well's performance exceeding expectations is a positive indicator for Epsilon Energy's production capabilities and future revenue. The redetermination of the borrowing base at $45 million also reflects increased asset value, which is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100