secwatch.observer — SEC 8-K summary
======================================

Issuer:     EMPIRE PETROLEUM CORP (EP)
CIK:        0000887396
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001072613-24-000506
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887396/000107261324000506/0001072613-24-000506-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887396/000107261324000506/emp_8k-18843.htm
  HTML page:      https://secwatch.observer/filing/0001072613-24-000506

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer