Empire Petroleum reports Q1 net loss of $4.0M; North Dakota drilling program update

EMPIRE PETROLEUM CORP

2024-Q1 EPS reported -$0.15 revenue$9,387,241

Q1-24 net sales 2,207 Boe/d; oil sales up 11% sequentially and 8% YoY.
Total revenue $9.4M; net loss $4.0M ($0.15/share); adjusted EBITDA ($0.7M).
Completed $20.66M rights offering at $5.00/share in Q2-24 to fund drilling and seismic.
North Dakota: 70% of horizontal wells completed; EOR infrastructure by Q3; initial production impact late 2024.
New Mexico: initiated pilot drilling program; legal actions on trespassers on waterfloods.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

EMPIRE PETROLEUM CORP reported financial results for first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

On May 15, 2024, Empire Petroleum Corporation (the “Company”) issued a press release announcing its financial and operating results for the first quarter 2024.

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Source: SEC EDGAR

accession 0001072613-24-000506

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