{"schema_version":"secwatch.filing_event.v1","accession":"0001072613-23-000502","form_type":"8-K","ticker":"EP","cik":"0000887396","company_name":"EMPIRE PETROLEUM CORP","filed_at":"2023-09-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.891635+00:00","generated_at":"2026-06-10T09:23:55.041129+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Empire Petroleum subsidiary obtains $10M in bridge loans from related parties for ND oil properties","bullets":["Phil Mulacek and Energy Evolution Master Fund each lent $5M to Empire North Dakota LLC.","Proceeds will fund redevelopment of oil and gas properties in North Dakota.","Bridge loans mature Oct 31, 2023; interest 7% pre-maturity, 9% post-maturity.","Parent Empire Petroleum guarantees the loans; loans are subordinated to CrossFirst Bank revolver.","Origination fee of $50k per loan (1% of principal) paid to each investor."],"urls":{"canonical":"https://secwatch.observer/filing/0001072613-23-000502","json":"https://secwatch.observer/filing/0001072613-23-000502.json","markdown":"https://secwatch.observer/filing/0001072613-23-000502.md","text":"https://secwatch.observer/filing/0001072613-23-000502.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/887396/000107261323000502/0001072613-23-000502-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/887396/000107261323000502/emp_8k-18762.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T09:23:55.041129+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"203a04b25a08a2925629928c22a4750c8f7b4eeb","claim":"EMPIRE PETROLEUM CORP incurred loan of $5.0 million with Energy Evolution Master Fund, Ltd. at 7% per annum maturing October 31, 2023.","evidence_excerpt":"North Dakota LLC, a Delaware limited liability company (“Empire North Dakota”) and a wholly owned subsidiary of Empire Petroleum Corporation (the “Company”), in the amount of $5.0 million (collectively, the “Bridge Loans”). The proceeds of the Bridge Loans in the aggregate amount of $10.0 million will be used by Empire North Dakota for the redevelopment of oil and","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/887396/000107261323000502/0001072613-23-000502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$5.0 million"},{"label":"Counterparty","value":"Energy Evolution Master Fund, Ltd."},{"label":"Rate","value":"7% per annum"},{"label":"Maturity","value":"October 31, 2023"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"7991d6445852ba77507722691489332ecb4b7242","claim":"EMPIRE PETROLEUM CORP incurred guarantee with Energy Evolution Master Fund, Ltd..","evidence_excerpt":"The Company has issued to each Investor its unconditional guarantee of the obligations of Empire North Dakota under the Bridge Loans","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/887396/000107261323000502/0001072613-23-000502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"guarantee"},{"label":"Counterparty","value":"Energy Evolution Master Fund, Ltd."},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"ae3864da283b9e50cf1ee462abfbf9aa08d99c28","claim":"EMPIRE PETROLEUM CORP incurred guarantee with Phil Mulacek.","evidence_excerpt":"The Company has issued to each Investor its unconditional guarantee of the obligations of Empire North Dakota under the Bridge Loans","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/887396/000107261323000502/0001072613-23-000502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"guarantee"},{"label":"Counterparty","value":"Phil Mulacek"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"ff306311d677e1e7f485deed0c4ba586273ac70c","claim":"EMPIRE PETROLEUM CORP incurred loan of $5.0 million with Phil Mulacek at 7% per annum maturing October 31, 2023.","evidence_excerpt":"each of Phil Mulacek, an individual, and Energy Evolution Master Fund, Ltd., a Cayman Islands exempted company (each, an “Investor” and collectively, the “Investors”), made a bridge loan to Empire North Dakota LLC, a Delaware limited liability company (“Empire North Dakota”) and a wholly owned subsidiary of Empire Petroleum Corporation (the “Company”), in the amount of $5.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/887396/000107261323000502/0001072613-23-000502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$5.0 million"},{"label":"Counterparty","value":"Phil Mulacek"},{"label":"Rate","value":"7% per annum"},{"label":"Maturity","value":"October 31, 2023"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}