Empiro Consulting Group to Acquire Over $500 Million of Oil and Gas Reserves
Empiro Consulting Group is in the process of a substantial acquisition of oil and gas leases throughout Texas and Oklahoma. Negotiations have begun and should be completed by May of 2011.
- (1888PressRelease) May 20, 2011 - Empiro Consulting Group is finalizing negotiations on the acquisition oil and gas reserves throughout Texas and Oklahoma. Empiro's acquisition includes numerous rework and recomplete wells along with over 10,000 drillable acres. The firm's primary strategic focus since inception has been the acquisition of proven producing properties. Empiro's corporate strategy targets the exploitation of mature properties divested by large oil and gas firms, concentrating on contrarian and niche oil and gas plays.
Saddled by higher production expenses, large publicly held companies have turned to the divestment of domestic oil and gas assets as a source of capital to fund more capital intensive international and offshore programs. Prospective acquisition candidates for Empiro are characterized by predictable decline curves, demonstrated stability in production, extended economic life, and recognizable upside potential. All of these factors combined with industry partners that model lean management and operations structure contribute to the achievement of superior results.
Empiro works with ,private operator, that do not carry the elevated overhead of larger oil and gas companies, thus lower development and per barrel lifting costs allow Empiro to realize profitability from wells that have fallen out of favor with their current owners. The simple transfer of property ownership to Empiro's cost effective management and operational oversight can result in an immediate increase in production revenue.
Empiro niche is in the recovery of oil and gas reserves from mature wells that require the use of special techniques known as secondary and tertiary recovery. These methods require a broad understanding of engineering, oil field mechanics, and reservoir manipulation. Increased and sustained production are most often achieved through a combination of these components.
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