Epsilon Energy (EPSN) said late Thursday its board approved a new one-year program under which the company may repurchase up to 2.2 million common shares for an aggregate purchase price of not more than $13 million.

The company also said that lender Frost Bank re-determined the borrowing base on the company's senior secured reserve-based lending revolving credit facility at $45 million, effective Feb. 10.

Epsilon shares were up 1.3% in after-hours activity.