Empyrean Energy PLC Sugarloaf Project Block B Upd

Thursday, Aug 05 2010 by


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Empyrean Energy Plc (Empyrean) is a United Kingdom-based on-shore oil, gas and condensate exploration, development and production company with assets in Texas and California. The Company operates through two segments: exploration for, development and production of oil and gas properties. Its Sugarloaf AMI project in the Eagle Ford Shale, Texas, consists of approximately 24,000 gross acres. It has an interest in approximately 240 gross producing wells. Empyrean's other assets include interest in the Eagle Oil Pool Development Project located in the San Joaquin Basin, southern California, which is an oil and gas province and covers an area of approximately 4,300 acres. Its Eagle Oil pool has mean (P50) recoverable reserves of approximately 7.1 million barrels of oil and approximately 12.3 billion cubic feet of gas. The Company also has interest in the Sugarloaf Block A operated by ConocoPhillips in the Eagle Ford Shale, and an interest in the Riverbend Project in Texas. more »

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