Empire Petroleum Takes 25% Stake in Southwest Louisiana Three-Well Development Program
According to Oklahoma Energy Today, Tulsa-based Empire Petroleum Corporation has elected to participate in a three-well oil and gas development program in Calcasieu Parish, Louisiana, taking a 25% working interest in the initial well with completion operations expected to begin in April 2026.
Project Details and Market Context
Empire will fund its share of drilling and completion costs through the issuance of approximately 700,000 shares of common stock, avoiding immediate cash outlays. The program targets proven formations in the East Perkins Field, a historically productive oil region in Southwest Louisiana. The operator has already drilled, cored, and logged the first well, with subsurface data confirming multiple productive sand zones and strong reservoir pressure of more than 9,100 psi with 16.5+ lb/gal drilling mud in place.
“This opportunity aligns with the kind of development work that complements our existing operations,” said Mike Morrisett, Empire’s President and CEO. Morrisett also flagged interest in potential midstream-adjacent opportunities in the area that could generate “stable and recurring cash flow” over time, signaling Empire’s intent to expand its footprint in the region beyond this initial program.
Empire currently holds producing assets across Louisiana, New Mexico, North Dakota, Montana, and Texas.
What It Means for Subcontractors
- Completion work is imminent. Operations on the first well are scheduled for April 2026, meaning drilling and completion subcontractors in the Southwest Louisiana market should be watching for bid opportunities now, not after announcements.
- Two more wells are planned. The broader program includes three total locations along the same structural trend. Contractors who perform well on the initial job are positioned to capture follow-on work with minimal re-bidding friction.
- Equity-funded projects carry different cash flow risk. Empire is funding its working interest with stock issuance rather than cash. Subcontractors working for working-interest owners using non-cash financing should confirm payment terms and financial backstops before mobilizing.
- Midstream interest creates downstream opportunities. Morrisett specifically mentioned midstream-adjacent potential. If the program advances, gather-and-transport infrastructure work could follow, opening doors for pipeline, compression, and facility contractors in the Calcasieu Parish area.
