The work will include drilling on the Sugarloaf area of mutual interest, the Eagle Ford shale project in which the company has a 3% working interest.
The project is operated by Marathon Oil.
Empyrean has also made a repayment of $1.5 million on its debt under tranche A of its facility, paid with money from sales received from production.
The balance remaining on the facility is $12 million, but the company expects further drawdowns to fund the Sugarloaf.
Empyrean
