Epsilon Energy Ltd. (EPSN): M&A transaction — Epsilon closes $15M Permian Basin asset acquisition, adds 600+ BOEPD (75% oil)

Epsilon Energy Ltd.

Acquired 25% working interest in 3 producing wells and 3,246 gross undeveloped acres from Pradera Fuego, LP for $15M cash.
Three wells producing over 1,500 BOEPD gross; net production pro forma exceeds 600 BOEPD (75% oil).
Fourth well drilling underway; plans for two additional wells in H1 2024 with $11M net capex budget funded from project cash flows.
COO Henry Clanton entered new employment agreement with $282K base salary and up to $150K annual incentive bonus.
Acquisition immediately accretive to cash flows and adds meaningful liquids to production mix.

item 1.01 item 2.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Epsilon Energy Ltd. completed an acquisition involving Pradera Fuego, LP for $15 million (closed 2024-02-27).

Action: acquisition
Counterparty: Pradera Fuego, LP
Consideration: $15 million
Closing: 2024-02-27

Exact text from the filing

On February 27, 2024, the Company closed on an acquisition of assets in the Permian Basin, Ector County, Texas. The assets, acquired from Pradera Fuego, LP, include a 25% working interest in 3 producing wells and 3,246 gross undeveloped acres. The effective date for the transaction was (i) February 1, 2024 with respect to the leases and (ii) March 1, 2024 with respect to the wells. The total consideration paid was $15 million, funded from cash on-hand.

View on SEC.gov

68 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Epsilon Energy Ltd. filing history →

Source: SEC EDGAR

accession 0001558370-24-003002

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.