---
schema_version: "secwatch.filing_event.v1"
accession: "0001072613-24-000358"
form_type: "8-K"
ticker: "EP"
cik: "0000887396"
company_name: "EMPIRE PETROLEUM CORP"
filed_at: "2024-04-01T23:59:59+00:00"
generated_at: "2026-06-04T05:06:59.653611+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Empire Petroleum reports Q4 net loss of $4.8M; modifies rights offering to raise up to $20.66M

## Summary
- Q4 net loss $4.8M ($0.20/diluted); full-year loss $12.5M ($0.55/diluted); revenue $11.2M with derivative gains.
- Year-end 2023 proved reserves 9.1 MMBoe; standardized measure $83.0M; decline driven by lower SEC-mandated pricing.
- Rights offering modified: each right buys 0.161 shares at $5.00, up to ~$20.66M gross; expiration extended to April 10, 2024.
- Starbuck EOR project in ND advancing; initial production impact expected in Q3-Q4 2024 after injector completion in Q2.
- Chairman and largest shareholder intend to fully exercise rights and over-subscribe their pro rata share.

## SEC filing metadata
- accession: 0001072613-24-000358
- form_type: 8-K
- ticker: EP
- cik: 0000887396
- company_name: EMPIRE PETROLEUM CORP
- filed_at: 2024-04-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887396/000107261324000358/0001072613-24-000358-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887396/000107261324000358/emp_8k-18817.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001072613-24-000358
- JSON: https://secwatch.observer/filing/0001072613-24-000358.json
- Plain text: https://secwatch.observer/filing/0001072613-24-000358.txt

## Key facts
- Earnings Releases
  EMPIRE PETROLEUM CORP reported the fourth quarter 2023 results: revenue $11.2 million, net income $4.8 million, EPS $0.20 per diluted share.
  - Period: the fourth quarter 2023
  - Revenue: $11.2 million
  - Net income: $4.8 million
  - EPS: $0.20 per diluted share
  - Result: reported results
  source text: 2,011 Boe/d, including 1,294 barrels of oil per day; 326 barrels of NGLs per day, and 2,346 thousand cubic feet per day (“Mcf/d”), or 391 Boe/d, of natural gas. Empire reported $11.2 million of total revenue for the fourth quarter of 2023 versus $9.1 million for the third quarter of 2023. Contributing to the increase was a $1.3 million net gain on derivatives versus
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261324000358/0001072613-24-000358-index.htm
- Earnings Releases
  EMPIRE PETROLEUM CORP reported full year 2023 results: net income $12.5 million, EPS $0.55 per diluted share.
  - Period: full year 2023
  - Net income: $12.5 million
  - EPS: $0.55 per diluted share
  - Result: reported results
  source text: Posted a net loss $4.8 million, or $0.20 per diluted share, for the fourth quarter 2023 and a net loss of $12.5 million, or $0.55 per diluted share, for full year 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/887396/000107261324000358/0001072613-24-000358-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.