Highest-materiality recent filing
Empire Petroleum Q1 2026 net loss $6.6M; revenue $7.7M down 15% YoY; production falls 8%
Q1 2026 net loss of $6.6M ($0.18/diluted share) vs. $4.2M loss in Q1 2025; Adjusted EBITDA –$0.7M vs. –$0.6M.
Empire Petroleum enters $30M ATM equity distribution agreement with Roth Capital Partners
Company may sell up to $30M of common stock in at-the-market offerings through Roth Capital Partners.
Empire Petroleum fully subscribes $10M rights offering at $2.99/share
Rights offering generated approx. $10.0M in gross proceeds, before expenses.
Empire Petroleum enters 3-well Louisiana development program; 25% WI funded via 700,000 shares
25% working interest in initial well of three-well program targeting proven Louisiana formations.
Full-year 2025 total product revenue $34.2M, net loss $72.1M ($2.12/sh), adjusted EBITDA -$5.4M (vs +$0.7M in 2024).
Empire Petroleum extends rights offering to March 18, ups aggregate value to $10M
Subscription rights offering extended to 5:00 p.m. ET on March 18, 2026; aggregate shares increased to 3,344,482.
Empire Petroleum issues $3M promissory note to Phil Mulacek; convertible at $2.99/share
Principal $3M, interest 5.5% per annum, matures May 19, 2026; post-maturity default rate 9%.
Empire Petroleum launches $6.0M rights offering at $2.99/share; largest holder to participate
Rights offering of up to 2,006,689 shares at $2.99/share; one non-transferable right per share held entitles purchase of 0.057 shares.
Empire Petroleum sets record date for $6M rights offering
Record date of February 2, 2026 for rights offering to raise up to $6.0 million.
Empire Petroleum extends revolver maturity to Dec 2028, adds Empire Texas as borrower
Third Amendment extends final maturity of $20M revolver from Dec 2026 to Dec 2028.
Empire Q3 net loss $3.8M, revenue $9.4M; rights offering $2.5M, NM regulatory win
Q3 net loss $3.8M ($0.11/diluted share) on $9.4M product revenue; adjusted EBITDA $0.1M.
Note amended: conversion price for $2M advance raised from $4.27 to $4.32; warrant shares cut to 138,889.
Empire Petroleum issues $4M convertible note to director Mulacek for drilling program
$4M promissory note issued to director Phil E. Mulacek; $2M advanced, up to $2M additional available after Mar 2026.
Empire Petroleum rights offering fully subscribed; $2.5M gross proceeds, up to $5M with warrants
Gross proceeds of ~$2.5M from rights offering; warrants could add another $2.5M if exercised.
Empire extends rights offering to Aug 20; $5M raise, chairman participates
Empire Petroleum extends rights offering expiration to Aug 20, 2025; gross proceeds up to $5.0M ($2.5M from warrants).
Empire Petroleum secures unanimous NMOCD ruling to advance CO2 development, protect EMSU assets
NMOCD affirms Empire's exclusive rights to Residual Oil Zone in Grayburg and San Andres formations under 1984 order.
Empire Petroleum Q2 net loss $5.1M; production up 15% but revenue down 32% YoY
Q2 net production 2,357 Boe/d (+15% QoQ); oil 1,493 Bbls/d; total product revenue $8.7M (-32% YoY).
Empire extends rights offering to Aug 18, cuts subscription price to $0.07367/unit
Rights offering extended to 5:00 p.m. ET on Aug 18, 2025; subscription price adjusted to $0.07367/unit from $5.30.
Empire Petroleum extends rights offering expiration to July 30, 2025; $5.0M gross proceeds
Rights offering extended to 5:00 p.m. ET on July 30, 2025, for more stockholder participation time.
Empire Petroleum launches $5M rights offering at $5.30/unit; Chairman Mulacek to participate
Offering up to 33.8M units at $5.30 each; each unit consists of 0.0139 common shares + one warrant.
Empire Petroleum sets record date for $5M rights offering; units at $5.30 per unit
Record date July 10, 2025 for rights offering to raise gross proceeds up to $5.0M, including $2.5M from warrant exercise.
Empire Petroleum issues $4M promissory note to Phil E. Mulacek, $2M drawn immediately
Note has $4M principal; $2M advanced on June 17, 2025; up to $2M additional available 45-90 days later.
Empire Petroleum annual meeting elects directors, approves executive pay, ratifies auditor
Annual meeting held June 12, 2025; 87.15% of shares represented (29.38M of 33.71M outstanding).
Empire Petroleum Q1 2025 net loss $4.2M on $9M revenue; production down 13% QoQ
Q1 net production 2,049 Boe/d (65% oil), down 13% from Q4 and 7% YoY.
Empire Petroleum reports FY 2024 net loss $16.2M on $44M revenue; Q4 oil output up 22% YoY
Full year 2024 product revenue of $44.0M; net loss of $16.2M ($0.54 diluted EPS); adjusted EBITDA of $0.7M.
Empire Petroleum expands revolver credit line to $20 million
Revolver commitment increased from $10M to $20M; monthly reduction raised to $250k beginning Dec 31, 2024.
Empire Petroleum Q3 2024 net loss $3.6M, production 2,460 Boe/d; rights offering oversubscribed
Total product revenue $10.9M, net loss $3.6M ($0.12/share), adjusted net loss $3.8M ($0.12/share).
Empire Petroleum rights offering fully subscribed for ~$10M gross proceeds
Rights offering expired Oct 24, 2024; fully subscribed with oversubscriptions allocated pro-rata.
Registered rights offering of up to 1,980,198 shares at $5.05 each, raising ~$10M.
Empire Petroleum appoints Matthew E. Watson as Chief Accounting Officer
Watson joined as CAO on Sept 1, 2024, reporting to CEO Michael Morrisett.
Empire Petroleum Q2 production up 24% YoY to 2,638 Boe/d; net loss $4.4M
Q2 product revenue $12.8M (+31% YoY); net loss $4.4M ($0.15/sh).
Empire Petroleum to issue 205,427 shares to repay $1.06M loan from PIE, terminate loan and JDA
Outstanding loan principal and interest of $1,060,004 as of July 1, 2024.
Empire Petroleum shareholders approve 2024 stock plan, re-elect directors
Shareholders approved 2024 Stock and Incentive Compensation Plan reserving 700,000 common shares.
Empire Petroleum $5M note converted into 800k shares; warrant issued
Energy Evolution converted $5M principal at $6.25/share into 800,000 common shares.
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.
Empire Petroleum appoints CEO as interim CFO after CFO resignation
Former CFO Stephen L. Faulkner Jr. resigned effective March 28, 2024; search for successor continues.
On September 1, 2024, Matthew E. Watson, age 44, joined Empire Petroleum Corporation (the “Company”) as Chief Accounting Officer of the Company.
As previously reported, on March 12, 2024, Stephen L. Faulkner, Jr. (Larry) informed Empire Petroleum Corporation (the "Company") that he was resigning as Chief Financial Officer and Chief Accounting Officer of the Company effective on March 28, 2024.
On May 10, 2024, the Board of Directors of the Company appointed Michael R. Morrisett, the Company’s President and Chief Executive Officer, to temporarily serve as the Company’s principal financial officer until the Company hires a replacement principal financial officer.
Max materiality 0.80 · Median 0.60 · Most common event other_material