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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Empyrean Energy Plc | LSE:EME | London | Ordinary Share | GB00B09G2351 | ORD 0.2P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.0305 | 7.82% | 0.4205 | 0.40 | 0.441 | 0.401 | 0.401 | 0.401 | 2,037,639 | 16:35:15 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | 0 | -20.8M | -0.0211 | -0.19 | 3.94M |
From May 2019 to May 2024
By Alex MacDonald
LONDON--Empyrean Energy PLC (EME.LN) said on Thursday that oil production from its flagship shale oil and gas project in Texas fell in the first quarter compared with the previous three months.
Empyrean, a London-listed and U.S.-focused exploration company, said its share of output from the Sugarloaf AMI project after royalties and costs was 109,425 barrels of oil equivalent for the three months to March 31, down 2.2% from the previous quarter.
Empyrean has a 3% interest in the project which is operated by Marathon Oil Corp. (MRO).
"Production from Sugarloaf continues to be economic even at current oil prices and has been maintained at steady rates, notwithstanding lower levels of drilling activity in the current, challenging oil price environment," said Empyrean CEO, Tom Kelly.
He added that the project has a healthy inventory of drilled wells to be placed into production in the coming months.
There are currently 218 gross producing wells at Sugarloaf, up from 187 wells at the end of December.
Empyrean's shares were up 0.2% at 7.12 pence a share, giving the company a market capitalization of GBP16 million or $25 million.
-Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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