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Empyrean Energy production and Q4 2013 operational update


Published Feb 13, 2014
Empyrean Energy

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

Tags: Empyrean Energy




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