Empyrean is an AIM listed profitable onshore US oil & gas development and production company. Its primary focus is on its 3% interest in the Marathon Oil operated Sugarloaf AMI centrally positioned in the liquids rich sweet-spot within the Eagle Ford Shale Texas – the largest oil and gas development in the world based on capital invested. Empyrean is well-positioned to benefit from Marathon's rapid and highly-efficient drilling programme at Sugarloaf and to capitalise on the significant additional upside available from initiatives. As at 2 September 2015, Empyrean had an interest in 241 gross producing wells with full development expected to reach over 770 wells. The Company has a term debt facility of up to US$50 million with Macquarie Bank, subject to reserve hurdles and drawdown approvals, in place in order to develop this acreage.