Empire Petroleum Corporation has assembled a core team of professionals with experience in identifying value, improving production, maintaining leases and driving efficiencies while minimizing costs designed to maximize shareholder value. Structured as a proved developed producing (PDP) focused company, Empire works to mitigate the steep decline curves and geologic risks associated with exploration and new well development. Naturally, scale benefits this business strategy and Empire’s management is focused on economically adding working interest through acquisitions and active lease management.
Empire Petroleum, incorporated initially in 1983, and later domesticated in Delaware, was formed through an acquisition in 2001. Empire’s recent history under its current management team began with the acquisition of assets in central Louisiana mid-year 2018 followed over the next several months by five additional acquisitions. In late 2018, the company entered into a $20mm senior revolver loan agreement with CrossFirst Bank to aid in the financing of these acquisitions.
Empire Petroleum Corporation is an oil and gas production company focused on optimizing developed production by employing field management methods to maximizing reserve recovery, with limited and highly selective drilling activity.
- Target predictable, low-decline production with long-life
- Target acquisitions at 2-4x cash flows
- Focus on high quality assets that add scale and provide synergies to existing portfolio
- Cost-effectively optimize well production
- Deploy rigorous field management programs
- Reduce unit operating costs and improve margins
Execute low risk,
Low cost drilling
- Focus on conventional formations
- Strict control of drilling and completion costs
- Increase drilling activity in high price environments
- Reduce unit operating costs
- Improve margins
- Generate strong free cash flows
- Increase production and extend well life