Empire Energy looks to be making a lot of powerful friends after rubber-stamping a memorandum of understanding with Northern Territory Government-owned Power and Water Corporation for the potential sale and transportation of gas from Empire's NT assets. The budding partnership could see Empire leverage Power and Water's McArthur River Gas Pipeline that intersects its Carpentaria-1 and Carpentaria-2H wells.
Empire Energy is ramping up its activities in the Beetaloo Sub-basin in the Northern Territory with its Carpentaria-1 well securing an encouraging post shut in average flow rate of 0.364 million cubic feet of gas per day. The result is up 45 per cent from the pre-shut in rate. The company says the results appear to underline the development potential of its Beetaloo Sub-basin acreage in the NT.
Empire Energy has massively boosted its Beetaloo Sub-basin oil and gas resources in the Northern Territory following a strategic takeover of Pangaea Ltd and EMG Northern Territory's acreage in the basin. Empire trebled its gas resource and increased its liquids resource by 3,000 per cent when it pounced on Pangaea and EMG's ground. The Beetaloo is believed to hold the largest undeveloped gas resource in Australia.
