Empire Petroleum received a unanimous ruling from the New Mexico Oil Conservation Commission regarding its rights to the Residual Oil Zone (ROZ) in the Eunice Monument South Unit (EMSU).
The Commission approved Empire's exclusive rights to produce the ROZ in the Grayburg and San Andres formations.
Empire plans to implement a CO2 enhanced oil recovery (EOR) pilot project in the next three years.
Regulatory Win
Empire's victory solidifies its position in New Mexico and allows for sustained production in the ROZ and upper zones.
Legal Actions
Empire intends to revoke permits granted to third-party operators and pursue litigation for protection of its assets.
Future Development
The company is committed to responsibly developing resources to ensure sustained growth and returns.
- The ruling safeguards Empire's assets from threatening activities, securing their long-term value.
- Empire's dedication and efforts have been recognized in the regulatory decision, setting a clear path for future development.
The unanimous decision by the Commission is a significant milestone for Empire Petroleum, signaling a pathway for growth and protection of its assets in New Mexico.