Empire looks to amend Pangaea deal terms naturalgasworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasworld.com Daily Mail and Mail on Sunday newspapers.
Empire acquires EMG s Beetaloo portfolio
Apr 26, 2021 3:14:am
Summary Empire had recently acquired a majority stake in fellow Australian explorer Pangaea Group’s Beetaloo sub-basin portfolio.
by: Shardul Sharma
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Empire acquires EMG s Beetaloo portfolio
Sydney-listed Empire Energy on April 26 said it had acquired Houston-based EMG s portfolio in the Beetaloo basin in Northern Territory.
EMG will sell its 17.5% interest in EP167, EP168, EP169, EP198 and EP305 to Empire s subsidiary Imperial Oil & Gas for A$1.061mn ($0.82mn) cash, approximately 29.7mn Empire shares, and about 1.7mn options to acquire ordinary Empire shares at A$0.70/share. On completion of the deal, EMG will own approximately 5% of the ordinary share capital of Empire.
Empire to start fracking Beetaloo well in June
Apr 23, 2021 10:15:am
Summary The upcoming vertical fracture stimulation and flow testing programme on the well will provide critical insights into the hydrocarbon composition, it said.
by: Shardul Sharma
Posted in:
Empire to start fracking Beetaloo well in June
Sydney-listed Empire Energy expects to start the fracture stimulation and flow testing of its Beetaloo sub-basin vertical discovery well, Carpentaria-1, in early June, it said on April 23. It plans further seismic acquisition and horizontal appraisal drilling later this year.
The upcoming vertical fracture stimulation and flow testing programme on the well will provide critical insights into the hydrocarbon composition and flow rate potential of the key Velkerri shale zones encountered during drilling, the company added.
Empire buys Pangaea s Beetaloo portfolio naturalgasworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasworld.com Daily Mail and Mail on Sunday newspapers.