Empire Petroleum has elected to participate in a new oil and natural gas development program in Louisiana that represents a meaningful addition to the Company’s ongoing development activities, announced on 18 March, 2026.
While the program targets hydrocarbon-bearing formations, the actual oil-to-gas mix will be established through ongoing development. As part of its participation, Empire will hold a 25% working interest in the initial well, with the Company’s portion of drilling and completion costs funded through the issuance of approximately 700,000 shares of Empire common stock. The Company believes the opportunity aligns with its focus on developing projects with solid economic fundamentals and manageable capital requirements.
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