Epsilon Energy Ltd. has reached a significant production milestone of 50 million cubic feet of gas per day (Mmcf/d) net to Epsilon, up 185% from a net production rate of 17.5 Mmcf/d at December 31, 2011, from its Marcellus Shale assets in Pennsylvania.
Additionally, the Auburn gas gathering system (Auburn GGS) of which Epsilon owns 35% reached gross throughput of 200 Mmcf/d this week. Construction continues for the Auburn GGS for future incremental volumes.
Epsilon has an ongoing oil exploration program in Saskatchewan, Canada targeting the Bakken and Midale formations. The Company is pleased to announce that it plans to spud additional exploratory wells this month based on the results of further analysis of a 3D seismic survey the Company completed in 2011.