Epsilon Energy Ltd. (EPSN) has released an update.
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Epsilon Energy Ltd. reported a challenging fiscal year for 2023, with total production reaching 9.0 Bcfe, despite a 12% decrease in natural gas production and a significant 62% drop in average realized prices excluding hedges. The company saw a stark revenue decline of 56% to $30.7 million, although oil sales rose by 59%. Adjusted EBITDA stood at $18.8 million, indicating resilience amidst a tough market environment.
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