Epsilon Energy Ltd.
For the period ended Mar 31, 2025. Filed May 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
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Loss on Derivative Contracts
| · · · · · · | ||||
|---|---|---|---|---|
| · · Three months ended March 31, | ||||
| · 2025 · 2024 | ||||
| Loss on derivative contracts | | $(1,462,170) | | $(100,726) |
For the three months ended March 31, 2025 and 2024, Epsilon had NYMEX HH Natural Gas futures swaps, Tennessee Gas Pipeline Zone 4 basis swaps, and crude oil NYMEX WTI CMA swaps derivative contracts for the purpose of hedging a portion of its physical natural gas and oil sales revenue. The amounts recorded represent the fair value changes on our derivative instruments during the year. During the three months ended March 31, 2025, we paid net cash settlements of $415,043. During the three months ended March 31, 2024, we received net cash settlements of $488,285.
For the three months ended March 31, 2025, realized losses on derivative contracts increased by $1.4 million. This increase was primarily the result of a significant increase in Henry Hub prices during the quarter.
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