George Mickelson's questions to EMPIRE PETROLEUM (EP) leadership • Q2 2022
Question
George Mickelson from Dakota inquired about the specific production increase targets for the Starbuck field, the company's overall year-end production goals, and the status of any potential future acquisitions.
Answer
CEO Thomas Pritchard and COO Eugene Sweeney addressed the questions. Sweeney stated the company is targeting a conservative 500-barrel-a-day production increase from the Starbuck field by year-end. Pritchard added that the company's internal goal is to double production year-over-year to 4,000 barrels per day, dependent on the Starbuck project's success. Regarding acquisitions, Pritchard noted a full pipeline but a wide bid-ask spread, though the company remains open to smaller, bolt-on deals.