$EPSN
Epsilon Energy Ltd

2024 Q2 Form 10-Q Financial Statement

#000155837024007320 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $7.308M $7.987M
YoY Change 12.43% -14.64%
Cost Of Revenue $2.300M $2.321M
YoY Change 14.34% 12.91%
Gross Profit $5.008M $5.666M
YoY Change 11.57% -22.39%
Gross Profit Margin 68.53% 70.94%
Selling, General & Admin $1.792M $1.881M
YoY Change 0.87% -14.66%
% of Gross Profit 35.78% 33.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.048M $2.380M
YoY Change 26.78% 34.26%
% of Gross Profit 40.9% 42.01%
Operating Expenses $3.840M $4.261M
YoY Change 13.21% 7.15%
Operating Profit $1.168M $1.405M
YoY Change -430.54% -57.74%
Interest Expense $8.759K $8.760K
YoY Change -74.55% -69.2%
% of Operating Profit 0.75% 0.62%
Other Income/Expense, Net $106.9K $156.3K
YoY Change -89.62% -89.8%
Pretax Income $1.275M $1.561M
YoY Change 88.36% -67.86%
Income Tax $459.0K $54.05K
% Of Pretax Income 36.01% 3.46%
Net Earnings $815.7K $1.507M
YoY Change 89.43% -57.31%
Net Earnings / Revenue 11.16% 18.87%
Basic Earnings Per Share $0.04 $0.07
Diluted Earnings Per Share $0.04 $0.07
COMMON SHARES
Basic Shares Outstanding 21.92M 21.91M
Diluted Shares Outstanding 22.03M 21.99M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.581M $14.55M
YoY Change -76.35% -70.46%
Cash & Equivalents $8.581M $2.309M
Short-Term Investments $0.00 $12.24M
Other Short-Term Assets $414.7K $619.5K
YoY Change 6.07% 24.72%
Inventory
Prepaid Expenses
Receivables $4.945M $5.062M
Other Receivables $0.00 $0.00
Total Short-Term Assets $14.98M $22.60M
YoY Change -65.62% -59.99%
LONG-TERM ASSETS
Property, Plant & Equipment $103.9M $101.2M
YoY Change 35.69% 50.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.827M $900.0K
YoY Change 269.06% 57.53%
Total Long-Term Assets $106.2M $102.5M
YoY Change 36.82% 49.93%
TOTAL ASSETS
Total Short-Term Assets $14.98M $22.60M
Total Long-Term Assets $106.2M $102.5M
Total Assets $121.1M $125.1M
YoY Change -0.01% 0.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.386M $3.215M
YoY Change 78.86% 69.14%
Accrued Expenses $2.214M $4.415M
YoY Change 44.68% 158.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.056M $9.668M
YoY Change 38.41% 69.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.944M $4.009M
YoY Change 19.61% 19.93%
Total Long-Term Liabilities $15.44M $15.54M
YoY Change 9.18% 11.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.056M $9.668M
Total Long-Term Liabilities $15.44M $15.54M
Total Liabilities $21.50M $25.21M
YoY Change 16.08% 28.27%
SHAREHOLDERS EQUITY
Retained Earnings -$38.37M -$37.81M
YoY Change 0.54% 1.71%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $99.65M $99.86M
YoY Change
Total Liabilities & Shareholders Equity $121.1M $125.1M
YoY Change -0.01% 0.2%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $815.7K $1.507M
YoY Change 89.43% -57.31%
Depreciation, Depletion And Amortization $2.048M $2.380M
YoY Change 26.78% 34.26%
Cash From Operating Activities $5.384M $3.691M
YoY Change 105.22% -51.29%
INVESTING ACTIVITIES
Capital Expenditures $9.157M $20.34M
YoY Change -28.29% 2500.56%
Acquisitions
YoY Change
Other Investing Activities $11.40M $8.562M
YoY Change 208.77% -128.41%
Cash From Investing Activities $2.238M -$11.78M
YoY Change -124.65% -61.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.372M -2.574M
YoY Change -57.7% -7.4%
NET CHANGE
Cash From Operating Activities 5.384M 3.691M
Cash From Investing Activities 2.238M -11.78M
Cash From Financing Activities -1.372M -2.574M
Net Change In Cash 6.251M -10.66M
YoY Change -164.44% -59.18%
FREE CASH FLOW
Cash From Operating Activities $5.384M $3.691M
Capital Expenditures $9.157M $20.34M
Free Cash Flow -$3.773M -$16.65M
YoY Change -62.81% -345.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
CY2023 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001726126
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 us-gaap Fair Value Recurring Basis Unobservable Input Reconciliation Net Derivative Asset Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationNetDerivativeAssetLiabilityGainLossStatementOfIncomeExtensibleList
http://fasb.org/us-gaap/2023#GainLossOnSaleOfDerivatives
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q1 us-gaap Preferred Stock Shares Authorized Unlimited
PreferredStockSharesAuthorizedUnlimited
Unlimited
CY2023 us-gaap Preferred Stock Shares Authorized Unlimited
PreferredStockSharesAuthorizedUnlimited
Unlimited
CY2024Q1 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
CY2023 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
CY2024Q1 us-gaap Preferred Stock Shares Authorized Unlimited
PreferredStockSharesAuthorizedUnlimited
Unlimited
CY2023 us-gaap Preferred Stock Shares Authorized Unlimited
PreferredStockSharesAuthorizedUnlimited
Unlimited
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
CA
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21913202
CY2023Q1 us-gaap Fair Value Recurring Basis Unobservable Input Reconciliation Net Derivative Asset Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationNetDerivativeAssetLiabilityGainLossStatementOfIncomeExtensibleList
http://fasb.org/us-gaap/2023#GainLossOnSaleOfDerivatives
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-38770
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
EPSILON ENERGY LTD.
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-1476367
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
500 Dallas Street
CY2024Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1250
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Houston
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
77002
CY2024Q1 dei City Area Code
CityAreaCode
281
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
670-0002
CY2024Q1 dei Security12b Title
Security12bTitle
Common Shares, no par value
CY2024Q1 dei Trading Symbol
TradingSymbol
EPSN
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
21921850
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2308633
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13403628
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5061734
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6015448
CY2024Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
12238177
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
18775106
CY2024Q1 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1347512
CY2023Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1219025
CY2024Q1 us-gaap Prepaid Taxes
PrepaidTaxes
1020702
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
952301
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
619542
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
763288
CY2024Q1 us-gaap Assets Current
AssetsCurrent
22596300
CY2023Q4 us-gaap Assets Current
AssetsCurrent
41128796
CY2024Q1 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
180452860
CY2023Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
160263511
CY2024Q1 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
28593071
CY2023Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
25504873
CY2024Q1 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
115782946
CY2023Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
113708210
CY2024Q1 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
93262985
CY2023Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
72060174
CY2024Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
42757299
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
42738273
CY2024Q1 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
35788907
CY2023Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
35539996
CY2024Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
6968392
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
7198277
CY2024Q1 us-gaap Land
Land
637764
CY2023Q4 us-gaap Land
Land
637764
CY2024Q1 epsn Property Plant And Equipment Excluding Land
PropertyPlantAndEquipmentExcludingLand
287524
CY2023Q4 epsn Property Plant And Equipment Excluding Land
PropertyPlantAndEquipmentExcludingLand
291807
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
101156665
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80188022
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
417268
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
441987
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
900000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
470000
CY2024Q1 epsn Prepaid Drilling Costs Noncurrent
PrepaidDrillingCostsNoncurrent
0
CY2023Q4 epsn Prepaid Drilling Costs Noncurrent
PrepaidDrillingCostsNoncurrent
1813808
CY2024Q1 us-gaap Assets Noncurrent
AssetsNoncurrent
102473933
CY2023Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
82913817
CY2024Q1 us-gaap Assets
Assets
125070233
CY2023Q4 us-gaap Assets
Assets
124042613
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
3215137
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3236871
CY2024Q1 epsn Accrued Gathering Fees
AccruedGatheringFees
667014
CY2023Q4 epsn Accrued Gathering Fees
AccruedGatheringFees
1136237
CY2024Q1 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
1201478
CY2023Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
1422898
CY2024Q1 epsn Accrued Capital Expenditures
AccruedCapitalExpenditures
2706951
CY2023Q4 epsn Accrued Capital Expenditures
AccruedCapitalExpenditures
696761
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
212892
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
636295
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
732593
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
561537
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
836268
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
118770
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
95170
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
86473
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
9667503
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
7895842
CY2024Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
3562486
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
3502952
CY2024Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
11530950
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
11553943
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
446226
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
476911
CY2024Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
15539662
CY2023Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
15533806
CY2024Q1 us-gaap Liabilities
Liabilities
25207165
CY2023Q4 us-gaap Liabilities
Liabilities
23429648
CY2024Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2023Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2024Q1 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0
CY2023Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0
CY2024Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2023Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
21913202
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22222722
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22151848
CY2024Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
116708531
CY2023Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
118272565
CY2024Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
70874
CY2023Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
360326
CY2024Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
11196060
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
10874491
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37809555
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37946042
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
9768032
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
9772277
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
99863068
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
100612965
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
125070233
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
124042613
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
7986743
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9356276
CY2024Q1 epsn Lease And Rental Expenses
LeaseAndRentalExpenses
1768462
CY2023Q1 epsn Lease And Rental Expenses
LeaseAndRentalExpenses
1404279
CY2024Q1 us-gaap Exploration Expense
ExplorationExpense
552570
CY2023Q1 us-gaap Exploration Expense
ExplorationExpense
651341
CY2024Q1 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
2380426
CY2023Q1 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
1773006
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
321569
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
179748
CY2024Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1559023
CY2023Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2023773
CY2024Q1 us-gaap Costs And Expenses
CostsAndExpenses
6582050
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
6032147
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1404693
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3324129
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
266272
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
490762
CY2024Q1 us-gaap Interest Expense
InterestExpense
8760
CY2023Q1 us-gaap Interest Expense
InterestExpense
28437
CY2024Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-100726
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1068660
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-533
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1635
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
156253
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1532620
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1560946
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4856749
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
54050
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1326922
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1506896
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3529827
CY2024Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
364
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2600
CY2024Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-4609
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1502651
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3527227
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21994207
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22990893
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21994207
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23027684
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
100612965
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
1506896
CY2024Q1 us-gaap Dividends
Dividends
1370409
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
321569
CY2024Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1203708
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-4245
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
99863068
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
104245205
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
3529827
CY2023Q1 us-gaap Dividends
Dividends
1412455
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
179748
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1367425
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2600
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
105172300
CY2024Q1 us-gaap Profit Loss
ProfitLoss
1506896
CY2023Q1 us-gaap Profit Loss
ProfitLoss
3529827
CY2024Q1 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
2380426
CY2023Q1 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
1773006
CY2024Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
216180
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0
CY2024Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-100726
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1068660
CY2024Q1 epsn Proceeds From Payments For Settlements Of Derivative Contracts Operating Activities
ProceedsFromPaymentsForSettlementsOfDerivativeContractsOperatingActivities
488285
CY2023Q1 epsn Proceeds From Payments For Settlements Of Derivative Contracts Operating Activities
ProceedsFromPaymentsForSettlementsOfDerivativeContractsOperatingActivities
363300
CY2024Q1 us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
1653
CY2023Q1 us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
0
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
321569
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
179748
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-22993
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12108
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-953714
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2396066
CY2024Q1 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
68401
CY2023Q1 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
0
CY2024Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-146477
CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-143646
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1897438
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1062898
CY2024Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0
CY2023Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1336225
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3691428
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7578152
CY2024Q1 epsn Payments To Acquire Unproved Oil And Gas Property
PaymentsToAcquireUnprovedOilAndGasProperty
3088198
CY2023Q1 epsn Payments To Acquire Unproved Oil And Gas Property
PaymentsToAcquireUnprovedOilAndGasProperty
106069
CY2024Q1 epsn Payments To Acquire Proved Oil And Gas Property
PaymentsToAcquireProvedOilAndGasProperty
17226449
CY2023Q1 epsn Payments To Acquire Proved Oil And Gas Property
PaymentsToAcquireProvedOilAndGasProperty
621132
CY2024Q1 us-gaap Payments To Acquire Oil And Gas Equipment
PaymentsToAcquireOilAndGasEquipment
22650
CY2023Q1 us-gaap Payments To Acquire Oil And Gas Equipment
PaymentsToAcquireOilAndGasEquipment
12423
CY2024Q1 epsn Payments To Acquire Land Buildings And Other Property Plant And Equipment
PaymentsToAcquireLandBuildingsAndOtherPropertyPlantAndEquipment
7681
CY2023Q1 epsn Payments To Acquire Land Buildings And Other Property Plant And Equipment
PaymentsToAcquireLandBuildingsAndOtherPropertyPlantAndEquipment
42703
CY2024Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
4045785
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
30138743
CY2024Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
10794285
CY2023Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0
CY2024Q1 epsn Prepaid Drilling Costs
PrepaidDrillingCosts
1813808
CY2023Q1 epsn Prepaid Drilling Costs
PrepaidDrillingCosts
0
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11782670
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30921070
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1203708
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1367425
CY2024Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
1370409
CY2023Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
1412455
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2574117
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2779880
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
364
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-2600
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10664995
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26125398
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13873628
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45806947
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3208633
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19681549
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
17216
CY2024Q1 epsn Change In Proved Properties Accrued In Accounts Payable And Accrued Liabilities
ChangeInProvedPropertiesAccruedInAccountsPayableAndAccruedLiabilities
2946528
CY2023Q1 epsn Change In Proved Properties Accrued In Accounts Payable And Accrued Liabilities
ChangeInProvedPropertiesAccruedInAccountsPayableAndAccruedLiabilities
375242
CY2024Q1 epsn Change In Gathering System Accrued In Accounts Payable And Accrued Liabilities
ChangeInGatheringSystemAccruedInAccountsPayableAndAccruedLiabilities
-3624
CY2023Q1 epsn Change In Gathering System Accrued In Accounts Payable And Accrued Liabilities
ChangeInGatheringSystemAccruedInAccountsPayableAndAccruedLiabilities
9201
CY2024Q1 epsn Asset Retirement Obligation Asset Additions
AssetRetirementObligationAssetAdditions
16372
CY2023Q1 epsn Asset Retirement Obligation Asset Additions
AssetRetirementObligationAssetAdditions
736
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;white-space:pre-wrap;">1. Description of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Epsilon Energy Ltd. (the “Company” or “Epsilon” or “we”) was incorporated under the laws of the Province of Alberta, Canada on March 14, 2005, pursuant to the ABCA. Epsilon is a North American on-shore focused independent natural gas and oil company engaged in the acquisition, development, gathering and production of natural gas and oil reserves. On February 14, 2019, Epsilon’s registration statement on Form 10 was declared effective by the United States Securities and Exchange Commission and on February 19, 2019, we began trading in the United States on the NASDAQ Global Market under the trading symbol “EPSN.”</p>
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates pertain to proved natural gas and oil reserves and related cash flow estimates used in impairment tests of natural gas and oil, and gathering system properties, asset retirement obligations, accrued natural gas and oil revenues and operating expenses, accrued gathering system revenues and operating expenses, as well as the valuation of commodity derivative instruments. Actual results could differ from those estimates.</p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2308633
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13403628
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
900000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
470000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3208633
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13873628
CY2024Q1 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
180452860
CY2023Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
160263511
CY2024Q1 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
28593071
CY2023Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
25504873
CY2024Q1 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
115782946
CY2023Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
113708210
CY2024Q1 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
93262985
CY2023Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
72060174
CY2024Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
42757299
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
42738273
CY2024Q1 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
35788907
CY2023Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
35539996
CY2024Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
6968392
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
7198277
CY2024Q1 us-gaap Land
Land
637764
CY2023Q4 us-gaap Land
Land
637764
CY2024Q1 epsn Property Plant And Equipment Excluding Land
PropertyPlantAndEquipmentExcludingLand
287524
CY2023Q4 epsn Property Plant And Equipment Excluding Land
PropertyPlantAndEquipmentExcludingLand
291807
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
101156665
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80188022
CY2023Q1 epsn Number Of Asset Acquisitions
NumberOfAssetAcquisitions
0
CY2023Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2024Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2024Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2023Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2024Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2023Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2000000
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.0625
CY2024Q1 epsn Annual Dividends Payable Amount Per Share
AnnualDividendsPayableAmountPerShare
0.25
CY2024Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
1400000
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
7986743
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9356276
CY2024Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5061734
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6015448
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7201386
CY2024Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
66268
CY2023Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2024Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2023Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
960508
CY2024Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
10775
CY2023Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
378522
CY2024Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
77043
CY2023Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1339030
CY2024Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
377599
CY2023Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-17278
CY2024Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-400592
CY2023Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
5170
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-22993
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12108
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
54050
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1326922
CY2024Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
3600000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
417268
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
441987
CY2024Q1 epsn Operating Lease Right Of Use Asset Current And Non Current
OperatingLeaseRightOfUseAssetCurrentAndNonCurrent
417268
CY2023Q4 epsn Operating Lease Right Of Use Asset Current And Non Current
OperatingLeaseRightOfUseAssetCurrentAndNonCurrent
441987
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
95170
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
86473
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
446226
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
476911
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
541396
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
563384
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
58670
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
144490
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
63267
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
27010
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
535149
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M20D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0825
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0825
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
60000.00
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
140000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
101062
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
173550
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
177021
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
180492
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
183963
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
816088
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
274692
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
541396
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
95170
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
446226
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1506896
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3529827
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21994207
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22990893
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21994207
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23027684
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
546245
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
347252
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
7986743
CY2024Q1 epsn Project Operating Costs
ProjectOperatingCosts
4201624
CY2024Q1 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
2380426
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1404693
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
266272
CY2024Q1 us-gaap Interest Expense
InterestExpense
8760
CY2024Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-100726
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-533
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
156253
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1560946
CY2024Q1 epsn Segment Capital Expenditures
SegmentCapitalExpenditures
23287882
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9356276
CY2023Q1 epsn Project Operating Costs
ProjectOperatingCosts
4259141
CY2023Q1 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
1773006
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3324129
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
490762
CY2023Q1 us-gaap Interest Expense
InterestExpense
28437
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1068660
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1635
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1532620
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4856749
CY2023Q1 epsn Segment Capital Expenditures
SegmentCapitalExpenditures
1166770
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3502952
CY2024Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
100727
CY2024Q1 epsn Proceeds From Payments For Settlements Of Derivative Contracts Operating Activities
ProceedsFromPaymentsForSettlementsOfDerivativeContractsOperatingActivities
488285
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
1068660
CY2023Q1 epsn Proceeds From Payments For Settlements Of Derivative Contracts Operating Activities
ProceedsFromPaymentsForSettlementsOfDerivativeContractsOperatingActivities
363300
CY2023Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
1100255
CY2022Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
1222090
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
-100726
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
1068660
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
488285
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
363300
CY2024Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
511244
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
1927450
CY2024Q1 epsn Asset Retirement Obligation Net Present Value
AssetRetirementObligationNetPresentValue
3600000
CY2023Q4 epsn Asset Retirement Obligation Net Present Value
AssetRetirementObligationNetPresentValue
3500000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3502952
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2780237
CY2024Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
16373
CY2023 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
12437
CY2024Q1 epsn Asset Retirement Obligation Liabilities Acquired Or Disposed Of
AssetRetirementObligationLiabilitiesAcquiredOrDisposedOf
0
CY2023 epsn Asset Retirement Obligation Liabilities Acquired Or Disposed Of
AssetRetirementObligationLiabilitiesAcquiredOrDisposedOf
-46961
CY2024Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
1654
CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
509802
CY2024Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0
CY2023 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
1178142
CY2024Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
44815
CY2023 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
88899
CY2024Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3562486
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001558370-24-007320-index-headers.html Edgar Link pending
0001558370-24-007320-index.html Edgar Link pending
0001558370-24-007320.txt Edgar Link pending
0001558370-24-007320-xbrl.zip Edgar Link pending
epsn-20240331.xsd Edgar Link pending
epsn-20240331x10q.htm Edgar Link pending
epsn-20240331xex31d1.htm Edgar Link pending
epsn-20240331xex31d2.htm Edgar Link pending
epsn-20240331xex32d1.htm Edgar Link pending
epsn-20240331xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
epsn-20240331_def.xml Edgar Link unprocessable
epsn-20240331_lab.xml Edgar Link unprocessable
epsn-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
epsn-20240331_cal.xml Edgar Link unprocessable
epsn-20240331x10q_htm.xml Edgar Link completed