On March 18, 2026, Empire Petroleum Corporation (NYSE American: EP) announced its decision to participate in a new oil and natural gas development program in Louisiana. This initiative is expected to significantly enhance the company's ongoing development activities in the region. Empire has completed its due diligence and will hold a 25% working interest in the initial well of a three-well development program targeting proven formations. The company plans to fund its share of drilling and completion costs through the issuance of approximately 700,000 shares of its common stock. The operator of the project has already drilled and logged the initial test location, revealing promising subsurface data that supports the completion decision. The well is located in the East Perkins Field in Calcasieu Parish, Louisiana, and is expected to commence completion operations in April 2026, with initial production testing to follow. This development aligns with Empire's strategy of focusing on projects with solid economic fundamentals and manageable capital requirements. Mike Morrisett, President and CEO of Empire, expressed optimism about the opportunity, highlighting its potential to complement existing operations and open avenues for future midstream-adjacent opportunities that could provide stable cash flow over time. The Louisiana program is part of Empire's broader efforts to grow production and reserves through selective development of established resource areas, with further updates anticipated as operations progress.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.