May. 20 at 5:02 AM
$EP Initiating Phase 1 of Enhanced Oil Recovery ("EOR") efforts North Dakota Starbuck Drilling Program yielded encouraging early results
• Daily production increasing significantly from ~80 bbls/d to more than 1,200 bbls/d during initial operations
• Extreme winter conditions and technical setbacks, including a pipeline failure and manufacturing defects in the EOR units, temporarily disrupted operations and resulted in a short-term ~75% decrease in net production
• As of early Q2-2025, the failed pipeline has been fully replaced, and all three EOR units have been restored to service with interim solutions in place
• Empire expects to finalize patented design specifications for its hydrocarbon vaporization technology, which target sustained heat levels between 550-650 degrees Fahrenheit, by the end of Q2-202Since restoring partial operations, production has already increased ~70%. Expectations are to reach recovery and performance over the next 3-5 quarters of steady-state EOR operations.
