Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/empyrean-energy-production-and-q4-2013-operational.shtmlEmpyrean Energy production and Q4 2013 operational update
Empyrean Energy is pleased to provide the following production and operations update for the three month period to
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Empyrean Energy is pleased to provide the following production and operations update for the three month period to the end of December 2013 ('Q4 2013' or the 'Quarter'). Empyrean has a 3% working interest in its flagship Sugarloaf AMI ('Sugarloaf' or the 'Project') in the prolific Eagle Ford Shale, Texas. The Project is operated by Marathon Oil Company, a subsidiary of US major Marathon Oil Corporation ('Marathon' or the 'Operator').
Highlights
◾ 119 gross producing wells on Sugarloaf AMI as at end of December 2013, an increase of 18 wells since the end of September 2013 ◾ Production average of approximately 904 boe/day net to Empyrean for the three months to the end of December 2013 ◾ Total production for Q4 2013 remained strong with a 2% increase in aggregate net production (83,127 boe) over the previous quarter (81,507 boe) and a 92% increase compared to Q4 2012 (43,356 boe) ◾ Marathon currently targeting to drill approximately 100-110 gross wells on the Sugarloaf AMI during 2014, representing an increase of over 100% on the 48 wells drilled during 2013
