Epsilon Energy is a North American independent natural gas and oil company that acquires, develops, and produces natural gas, oil, and natural gas liquids from reserves across the Appalachian Basin, Powder River Basin, Permian Basin, and Western Canadian Sedimentary Basin. The company generates revenue through upstream production from operated and non-operated wells and through a 35% ownership stake in the Auburn Gas Gathering System, which provides fee-based gathering and transportation services for Marcellus Shale natural gas in Pennsylvania. The business model combines capital-intensive exploration and production activities with lower-risk gathering services that generate fee-based cash flows from anchored shipper commitments.