Epsilon Energy Ltd
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| In September, 2008, Concord, Ontario-based '''Epsilon Energy Ltd''' (EPS.TO) was reported to have leased an additional 10,200 acres in Chemung and Tioga Counties in [[New York]]. The acreage is located between its Park Place and Evans Hill projects. The company is the operator and holds a 50% working interest. In total, it now owns a 50% interest in approximately 87,200 leasehold acres in New York and [[Pennsylvania]]. | In September, 2008, Concord, Ontario-based '''Epsilon Energy Ltd''' (EPS.TO) was reported to have leased an additional 10,200 acres in Chemung and Tioga Counties in [[New York]]. The acreage is located between its Park Place and Evans Hill projects. The company is the operator and holds a 50% working interest. In total, it now owns a 50% interest in approximately 87,200 leasehold acres in New York and [[Pennsylvania]]. | ||
| - | The company is focused on [[Trenton-Black River]] and Devonian shale incuding the [[Marcellus shale]] formation. The table below shows its total U.S. leasehold by state: | + | The company is focused on [[Trenton-Black River]] and Devonian shale exploration and development incuding the [[Marcellus shale]] formation. The table below shows its total U.S. leasehold by state: |
| '''Leasehold Acres | '''Leasehold Acres | ||
Revision as of 02:22, 28 April 2009
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In September, 2008, Concord, Ontario-based Epsilon Energy Ltd (EPS.TO) was reported to have leased an additional 10,200 acres in Chemung and Tioga Counties in New York. The acreage is located between its Park Place and Evans Hill projects. The company is the operator and holds a 50% working interest. In total, it now owns a 50% interest in approximately 87,200 leasehold acres in New York and Pennsylvania. The company is focused on Trenton-Black River and Devonian shale exploration and development incuding the Marcellus shale formation. The table below shows its total U.S. leasehold by state:
Leasehold Acres
(February 2009)
Appalachian Basin: Gross Net
Pennsylvania 15,000 15,000
New York 32,000 16,000
West Virginia 36,000 15,000
Ohio 40,000 9,000
TOTAL 123,000 55,000
Source: Epsilon Energy website, Apr., 2009
Another report in September, 2008 stated that Epsilon had completed two horizontal wells in their Highway 706 project in east central Pennsylvania near Mr. Carmel, PA. At that time, drilling was still underway on a third well in that area. It had already received water withdrawal permits for fracing and continued drilling from the Susquehanna River Basin Commission (SRBC) on the project. Epsilon owns drilling rights to 11,500 acres in this development, and most of it is still unexplored.
Fracing of the first of these wells as well as microseismic evaluation was planned for mid-November.
Epsilon provided an operational update in November, 2008 in which they reported a substantial slickwater fracture on its first Horizontal drilling|horizontal]] well. Initial test results on the well are promising. A January 2009 report took note that the horizontal well was producing 3 Mmcf/day and a vertical well also in the same project produced 1 Mmcf/day.
Epsilon is working on a gathering system and will tap into the Tennessee Gas Pipeline. The initial phase of the company's pipeline infrastructure for the Hwy. 706 project is expected to be complete by the end of June, 2009.
In January, 2009 the company provided another operational update in which it noted that it had completed drilling of the Poulsen 1H, a 2,700 foot lateral horizontal well that is part of its Highway 706 project. It was further mentioned in the same report that Epsilon now owns drilling rights to 32,000 gross (16,000 net) acres in New York State prospective for Marcellus shale. The company so far drilled four horizontal wells and three vertical ones in the Marcellus.
Another January, 2009 report found Epsilon outsourcing the drilling of wells further north in Susquehanna County, PA to Turm Oil.
A February, 2009 report indicates a third well in the Highway 706 project, the Larue 2H, had a production rate over 4.2 MMcf/d. Another Larue well, 1A, had production of 1 MMcf/d. An eighth well in the program, named Hardic 2H, is currently being drilled horizontally.
It also has a presence in the Quebec Saint Lawrence Lowlands Utica shale play where it is partners with Gastem in the Yamaska Project.
The company produces on land in West Virgina and Ohio.
- Fred Zaziski is Epsilon's President and CEO.
- David Heinz, Geologist, is Vice President of Exploration and COO.
