Epsilon Energy issues 2.2 million shares for Peak BLM acquisition

Epsilon Energy Ltd. (NASDAQ: EPSN) issued 2,234,847 common shares to Yorktown Energy Partners XI, LP as consideration for the acquisition of Peak BLM Lease LLC, which closed on November 14.

The Houston-based company's board of directors determined that regulatory thresholds outlined in the membership interest purchase agreement had been met. The purchase agreement, filed with the Securities and Exchange Commission on October 10, allowed for the issuance of up to 2.5 million common shares if certain conditions were satisfied within a specified timeframe.

The final share count reflects purchase price adjustments made according to the agreement's provisions. Epsilon stated that no additional consideration is due under the purchase agreement.

Epsilon Energy operates as a North American onshore natural gas and oil production and gathering company with assets across the Marcellus, Powder River, Permian, Western Canadian Sedimentary Basin, and Anadarko basins.

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