EMPIRE PETROLEUM CORP EP

Energy SIC 1311 - Crude Petroleum & Natural Gas NAICS Mining, Quarrying, and Oil and Gas Extraction › Oil and Gas Extraction derived NYSE

In this Form 10-K, references to "Empire", the "Company", "we", "our", and "us" refer to Empire Petroleum Corporation and its wholly-owned subsidiaries, unless context indicates otherwise.

Empire Petroleum Corporation is an independent energy company that engages in unlocking value in developed assets. Empire operates primarily from the following wholly-owned subsidiaries in its areas of operations:

Empire was incorporated in the state of Delaware in 1985. The consolidated financial statements of Empire Petroleum Corporation and subsidiaries include the accounts of the Company and its wholly-owned subsidiaries.

Our mission is to increase shareholder value by building oil and natural gas reserves in strategic plays in the United States. To accomplish our mission, we plan to execute the following business strategies:

Last close 3.07 2026-10-23
Market cap $127.6M 2026-06-30 share count
52-week range 2.08 - 4.00

Valuation FY2025 figures against the last close

P/S3.7x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.12

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $34.2M$43.6M$40.1M$53.2M$27.5M$7.7M$5.9M$465.5K$0—
SG&A $13.4M$14.7M$15.2M$12.3M$8.5M$7.4M$3.6M$1.2M$757.1K$196.6K
Total operating expenses $105.5M$57.3M$51.7M$44.1M$27.6M$25.3M$12.0M$1.4M$757.1K$378.1K
Operating income -$71.3M-$13.7M-$11.6M$8.8M-$473.4K-$17.6M-$6.2M-$915.9K-$757.1K-$378.1K
Interest expense $1.5M$1.5M————$503.6K$101.2K$73.0K$3.8K
Pre-tax income -$72.1M-$16.2M-$12.6M$7.3M-$18.6M—————
Income tax ——$132.2K$208.9K——————
Net income -$72.1M-$16.2M-$12.5M$7.1M-$18.6M-$16.8M-$6.7M-$1.0M-$830.1K-$381.9K
EPS, basic -2.12-0.54-0.550.34-1.27—————
EPS, diluted -2.12-0.54-0.550.30-1.27-2.97-0.33-0.08-0.08-0.04
Shares, diluted (wtd. avg.) 34.1M30.1M22.7M23.4M14.6M—————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.2M$2.3M$7.8M$11.9M$3.6M$157.7K$0$84.6K$77.8K$68.7K
Receivables $5.1M$8.2M$8.4M$7.8M$7.7M$1.3M—$124.6K$0—
Inventory $1.3M$1.3M$1.4M$1.8M$1.0M$531.3K$476.3K———
Total current assets $8.2M$12.4M$18.7M$22.7M$13.1M$2.2M$1.7M$367.5K$77.8K$82.7K
Property, plant and equipment $56.3M$110.1M$72.4M$45.3M$30.7M$8.2M$9.3M$1.6M——
Total assets $65.9M$123.9M$92.6M$71.5M$50.1M$11.2M$11.0M$2.0M$377.8K$382.7K
Accounts payable $10.8M$10.5M$16.4M$5.8M$4.3M$1.9M$1.0M$320.7K$65.0K$22.5K
Short-term debt $641.0K$70.0K$44.2K$2.1M$6.1M—————
Total current liabilities $24.3M$21.3M$25.0M$17.6M$12.1M$6.1M$2.2M$741.0K$202.2K$22.5K
Long-term debt —$11.3M$4.6M———$7.7M$1.2M——
Total liabilities $70.5M$61.1M$57.7M$48.3M$40.3M$29.7M$16.0M$2.1M$249.6K—
Retained earnings -$152.9M-$80.8M-$64.6M-$52.1M-$59.2M-$40.6M-$23.8M-$17.1M-$16.1M-$15.3M
Total equity -$4.6M$62.8M$35.0M$23.2M$9.8M-$18.4M-$4.9M-$150.2K$128.2K$301.4K

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$3.9M$6.2M-$9.9M$18.1M$3.2M-$1.7M-$592.3K-$564.9K-$236.0K-$81.9K
Depreciation and amortisation $10.6M$9.3M$3.1M$1.9M$2.5M$3.1M$3.4M$15.5K$0—
Stock-based compensation $1.4M$2.2M$3.1M——$1.9M————
Capital expenditure ——————$14.5K———
Investing cash flow -$4.6M-$53.9M-$14.8M-$11.4M-$24.7M$856.3K-$6.2M-$916.6K——
Financing cash flow $7.5M$42.2M$20.5M$1.7M$25.0M$1.0M$6.7M$1.5M$245.0K$132.5K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-027675.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M -50M 0 50M 100M Net income, FY2016: -381.9K Revenue, FY2017: 0 Net income, FY2017: -830.1K Revenue, FY2018: 465.5K Net income, FY2018: -1M Revenue, FY2019: 5.9M Net income, FY2019: -6.7M Revenue, FY2020: 7.7M Net income, FY2020: -16.8M Revenue, FY2021: 27.5M Net income, FY2021: -18.6M Revenue, FY2022: 53.2M Net income, FY2022: 7.1M Revenue, FY2023: 40.1M Net income, FY2023: -12.5M Revenue, FY2024: 43.6M Net income, FY2024: -16.2M Revenue, FY2025: 34.2M Net income, FY2025: -72.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $0 $465.5K $5.9M $7.7M $27.5M $53.2M $40.1M $43.6M $34.2M
Gross profit — — — — — — — — — —
Net income -$381.9K -$830.1K -$1.0M -$6.7M -$16.8M -$18.6M $7.1M -$12.5M -$16.2M -$72.1M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Other event Item 8.01
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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