Empire Petroleum provided updates on its Williston Basin development drilling program in its first quarter 2024 earnings results released on May 15.
The company said it expected its development efforts in North Dakota would return operations to positive cash flow.
"Recent drilling and data from the North Dakota field and reservoir affirm our confidence in the opportunity to drive meaningful production improvements in this area,” Phil Mulacek, Empire’s chairman, said in the report. “We continue to see excellent well economics within our North Dakota operations and are pleased to have achieved significant per-well cost reductions as compared to our initial expectations, following the drilling of our most recent wells.”