The following is a summary of the Epsilon Energy Ltd. (EPSN) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Epsilon Energy maintained a strong financial position despite the natural gas market hitting multi-year lows due to an oversupply.

• In 2023, Epsilon executed two transactions, adding a new core area in the Permian Basin, maintaining a solid balance sheet, and providing consistent dividends and share repurchases.

Business Progress:

• The natural gas market transitioned from being robust in 2022 to oversupplied in 2023. Despite this, Epsilon is optimistic about a recovery in the market in the next 12 months and believes in the long term prospects of natural gas.

• In spite of the current oversupply issues impacting their Marcelus assets, Epsilon is still optimistic about their significant future contribution.

• Epsilon made significant strides in the Permian Basin, acquiring a stake in the Pradera Fuego project and expanding production and acreage. The performance of wells drilled in Q4 exceeded expectations by over 25%, providing valuable data for future planning.

• The collected data and study from the vertical pilot drill will support ongoing development and further evaluate its commercial viability.

• Epsilon maintained its history of consistent shareholder returns continuing this trend in 2023.

More details: Epsilon Energy IR

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