Epsilon Energy enters Canadian JV

Epsilon Energy Ltd. has entered into an oil-focused joint venture in Alberta with a private Canadian company, Epsilon announced Monday.

The company will pay $3 million in drill and completion costs in return for a 50% stake in the project. Subsequent costs are expected to be split between Epsilon and its partner in accordance with their participating interests.

“A multi-well program will commence later this year. Should the venture prove successful, a quality still being debated concerning the company's other oil-focused ventures in Saskatchewan and the Brown Dense, it would provide attractive diversification for the company's predominant natural gas production stream,” said Global Hunter Securities analysts in a note to investors Monday morning.

Epsilon Energy Ltd. is a North American onshore exploration and production company with a current focus in the Marcellus Shale in Pennsylvania, Bakken Shale in Saskatchewan and Lower Smackover in Mississippi.

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