Empire Petroleum reports FY2022 net income $7.1M; production up 46%, revenue up 95%

EMPIRE PETROLEUM CORP

2023-Q1 EPS reported -$0.11 revenue$10,052,245

Full year 2022 net income $7.1M ($0.30 diluted EPS); adjusted net income $15.0M ($0.64 diluted EPS).
Revenue rose 95% to $52.9M; net sales volumes up 46% to 2,163 Boe/d.
Adjusted EBITDA increased threefold to $19.1M; year-end proved reserves up 27% to 13.2 MMBoe.
Q4 2022 revenue $10.7M; net loss $2.3M ($0.10 loss per share); adjusted net income $0.1M.
Liquidity of $12.2M at year-end 2022; debt reduced 16% to $7.2M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EMPIRE PETROLEUM CORP reported financial results for fourth quarter and full year 2022.

Period: fourth quarter and full year 2022
Result: reported results

Exact text from the filing

On April 3, 2023, Empire Petroleum Corporation (the "Company") issued a press release announcing its financial and operating results for the fourth quarter and full year 2022.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

EMPIRE PETROLEUM CORP filing history →

Source: SEC EDGAR

accession 0001072613-23-000289

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