EPSILON ASSET FOCUS New management team headed by: - Michael Raleigh, CEO and Director - John Lovoi, Chairman of the Board Strongly aligned Board of Directors with 30% ownership of common stock Simple new strategy - Focus…
LEADERSHIP WITH 30% OWNERSHIP OF EPSILON Michael Raleigh 35 years global energy experience development strategies, valua6ons, comple6ons & produc6on Founding partner of Lobo Baya, LLC. and technical advisor to JVL Advisors LLC.…
MARCELLUS ASSET - UPSTREAM OVERVIEW 11,500 gross (5,750 net) acres in sweet spot of the most prolic gas play in the US 148 Bcfe of Proved reserves (100% gas) 175 Bcfe of Proved + Probable reserves Q2 2014 average daily…
MARCELLUS UPSTREAM - GROSS PRODUCING WELL EUR DISTRIBUTION 2P Gross Gas EUR (BCF) Average 8.22 Median 7.60 Maximum 15.10 Minimum 3.22 Count 66 6
MARCELLUS UPSTREAM RESERVES APPRAISAL YEAR-END 2013 Annual reserve re-determina6on increased reserves 10% year over year Completed as of December 31, 2013 2012 & 2013 Proven (1P) Reserve Comparison Dec 31, 2012 Jan 1 to Dec…
MARCELLUS UPSTREAM YEAR-END 2013 RESERVES SUMMARY FY 2013 working interest produc6on 15 Bcfe (average daily rate of 41 mmcf/d) Q1 and Q2 2014 working interest produc6on average daily rate of 52 mmcf/d 2013 Reserve Report…
Unit Slope implies Steady State Produc_on Prole Extrapolate Reserves/Well 1/2 Unit Slope Fracture dominated ow behavior Unit Slope Beginning of Long term decline trend 9
3rd Party 1P, 2P & 3P - Proven , Probable & Possible Producing Single Well Reserves Unit Slope Long Term Decline 90% Probability < (14 Bcf) Abandonment Pressure Decline Curve 90% Probability (8 Bcf) 50% Probability…
MARCELLUS UPSTREAM - WELL RESERVES vs COMPLETION OPTIMIZATION Epsilon commissioned engineering study to determine reserve sensi6vity to comple6on New Marcellus Asset teams op6mizing comple6ons Newer short stage length fracs…
ACTUAL PRODUCTION vs 3rd PARTY RESERVES & EPSILON 12
MARCELLUS UPSTREAM - RESOURCE POTENTIAL Epsilon performed poten6al resource analysis including Upper Marcellus reserves under an accelerated development Assumes op6mized comple6on and development schedule Poten_al Resource…
MARCELLUS 2014 CAPITAL EXPENDITURES (MM) - UPSTREAM & MIDSTREAM Q2 2014 capital expenditures of 1.2 million 0.2 million for drilling & comple6ng Marcellus wells 1.0 million for expansion of Auburn Gas Gathering system Q3 & Q4…
MARCELLUS MIDSTREAM - POTENTIAL Midstream Overview 35% ownership interest with partners Statoil USA and Access Midstream Partners 18,000 acre dedica6on by anchor shippers Epsilon, Statoil & Chesapeake Current yearly EBITDA of…
BALANCE SHEET DEBT SUMMARY Type Instrument Amount Due Date Interest US 100 MM facility Reserve Senior secured September LIBOR plus US 20 MM availability based credit facility 2016 2.75 to 3.75 (7 MM drawn at 6/30/14) 2017…
CONTACT INFORMATION Epsilon Energy 16701 Greenspoint Park Dr., Suite 195 Houston, Texas 77060 Main: 281.670.0002 Fax: 281.668.0985 Michael Raleigh Chief Execu_ve Ocer Michael.RaleighEpsilonEnergyLTD.com…
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