DeGolyer and MacNaughton

Epsilon Energy Ltd. Announces Full Year 2022 Results and Approval of New Share Repurchase Program

Retrieved on: 
Friday, March 24, 2023

HOUSTON, March 23, 2023 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported its financial results for the fourth quarter and full-year ended December 31, 2022.

Key Points: 
  • HOUSTON, March 23, 2023 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported its financial results for the fourth quarter and full-year ended December 31, 2022.
  • Cash and cash equivalents (including restricted cash) was $45.8 million at December 31, 2022, an increase of 69% compared to December 31, 2021.
  • Epsilon generated revenues of $15.2 million for the quarter ended December 31, 2022, compared to $13.8 million in the same period last year.
  • Participants should ask to be joined to the “Epsilon Energy Year End 2022 Earnings Conference Call”
    A webcast can be viewed at:
    https://event.choruscall.com/mediaframe/webcast.html?webcastid=oXVnHGHH .

Allen Barron retires from Graves & Co. Consulting, Bill Vail to serve as Executive Vice President

Retrieved on: 
Monday, March 14, 2022

Consulting, a professional independent reservoir engineering firm to the oil and gas industry, announced today thatAllen C. Barron, Executive Vice President, retired fromGraves & Co. Consultingon March 11, 2022, after a distinguished 50+year career in the energy industry.

Key Points: 
  • Consulting, a professional independent reservoir engineering firm to the oil and gas industry, announced today thatAllen C. Barron, Executive Vice President, retired fromGraves & Co. Consultingon March 11, 2022, after a distinguished 50+year career in the energy industry.
  • "On behalf of all of our Graves colleagues, I want to extend our deepest thanks to Allen," said John L. Graves, President.
  • "Allen has contributed a great deal to the success of Graves & Co.
  • Consulting also announced today that William W. "Bill" Vail, Jr.,who currently serves as Senior Reservoir Engineer, has been promoted to Executive Vice President effective March 14, 2022.

Genel Energy PLC: CORRECTION: Update on oil reserves and resources

Retrieved on: 
Tuesday, February 16, 2021

Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).

Key Points: 
  • Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).
  • The Enhanced Oil Recovery project at the Tawke field has started to deliver a positive impact on production.
  • Pending further work on the project, the 23 MMbbls of 2P and 45 MMbbls of 3P gross reserves that DeGolyer and MacNaughton previously included in their figures continues to be maintained by Genel in 2C and 3C resources.
  • At Peshkabir, also on the Tawke licence (Genel 25% working interest), year-end 2020 gross 1P reserves were assessed at 61 MMbbls (51 MMbbls at end-2019), 2P reserves at 125 MMbbls (116 MMbbls at end-2019) and 3P reserves at 201 MMbbls (220 MMbbls at end-2019).

Genel Energy PLC: Update on oil reserves and resources

Retrieved on: 
Tuesday, February 16, 2021

Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).

Key Points: 
  • Tawke field 2P reserves stood at 245 MMbbls (261 MMbbls at end-2019) and 3P reserves at 359 MMbbls (376 MMbbls at end-2019).
  • The Enhanced Oil Recovery project at the Tawke field has started to deliver a positive impact on production.
  • Pending further work on the project, the 23 MMbbls of 2P and 45 MMbbls of 3P gross reserves that DeGolyer and MacNaughton previously included in their figures continues to be maintained by Genel in 2C and 3C resources.
  • At Peshkabir, also on the Tawke licence (Genel 25% working interest), year-end 2020 gross 1P reserves were assessed at 61 MMbbls (51 MMbbls at end-2019), 2P reserves at 116 MMbbls (125 MMbbls at end-2019) and 3P reserves at 201 MMbbls (220 MMbbls at end-2019).