Epsilon Energy's Recent Transaction Overview
Epsilon Energy Ltd. announces a significant development with the successful closing of the sale of Dewey Energy Holdings LLC. This transaction marks a strategic decision for the company as it aligns its focus on key growth areas.
Details of the Divestment
The company finalized the sale of its wholly owned subsidiary, which boasted substantial assets in the Western Anadarko Basin, to an undisclosed private buyer. The deal involved a cash transaction amounting to $2.5 million.
Asset Highlights
The divested assets include a robust production figure of approximately 813 Mcfe/d, with a significant portion, around 60%, attributed to natural gas. Additionally, the company relinquished around 6,400 net deep acres and 2,200 net shallow acres of valuable leasehold located in Dewey County, Oklahoma.
Assistance from Advisory Firms
To navigate this transaction, Epsilon Energy received support from RedOaks Energy Advisors LLC, who assisted with the intricacies of the sell-side process. Their expertise contributed to the efficient execution of this sale.
About Epsilon Energy Ltd.
Epsilon Energy Ltd. is recognized as a key player in the North American onshore natural gas and oil production sector. The company manages assets across several prolific basins, including the Marcellus, Powder River, Permian, and Western Canadian Sedimentary basins, showcasing a diverse portfolio that strengthens its market position.
Future Prospects
This divestment is part of Epsilon Energy’s broader strategy to streamline operations and enhance their focus on core areas of growth and productivity. By shedding non-core assets, the company aims to allocate resources more effectively, potentially leading to increased value for stakeholders.
Leadership and Contact Information
Leadership at Epsilon Energy is committed to maintaining transparent communication with stakeholders. Jason Stabell serves as the Chief Executive Officer, while Andrew Williamson holds the position of Chief Financial Officer. Investors or interested parties can reach out through the following contact details:
Phone: 281-670-0002
Email: Jason.Stabell@EpsilonEnergyLTD.com
Email: Andrew.Williamson@EpsilonEnergyLTD.com
Frequently Asked Questions
What does the divestment of Dewey Energy Holdings LLC mean for Epsilon Energy?
The divestment allows Epsilon Energy to refocus on their core operations and manage assets more effectively.
How much was the sale of Dewey Energy Holdings LLC worth?
The sale was concluded for $2.5 million in cash.
What assets were included in the sale?
The assets included significant production figures and extensive acreage in Dewey County, Oklahoma.
Who assisted Epsilon Energy with this sale?
Epsilon Energy was assisted by RedOaks Energy Advisors LLC during the transaction process.
What is Epsilon Energy Ltd.'s focus area moving forward?
Epsilon Energy aims to concentrate on its strategic growth areas, likely enhancing overall performance in the oil and gas sector.