Empire Energy Group Limited (AU:EEG) has released an update.
Empire Energy Group Limited has finalized an unconditional deal to divest its US oil and gas operations for a sum total of up to $9.1 million, which will enable full repayment of its US debt and bolster the development of its Beetaloo Basin assets in Australia with an excess of $2.2 million. The company retains a minor interest in US shale operations, transitioning to focus solely on its promising Beetaloo / McArthur Basin projects. This strategic move will aim to enhance energy security and provide economic benefits to the Northern Territory and beyond.
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