EP

TULSA, Okla., May 15, 2026--(BUSINESS WIRE)--Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today announced financial results for first quarter 2026 and an update on current operations. FIRST QUARTER 2026 HIGHLIGHTS Reported Q1-2026 net production volumes of 1,880 barrels of oil equivalent per day ("Boe/d") including 1,248 barrels of oil per day ("Bbl/d"); Boe/d is comprised of 66% oil, 10% natural gas liquids ("NGLs"), and 24% natural gas; Production during the quarter was impacted by operational issues in North Dakota and New Mexico, as well as weather-related Force Majeure disruptions in Texas, with volumes expected to recover in Q2-2026; In Q1-2026, Empire continued advancement of its Texas natural gas development program, with activity focused on reactivation, recompletion, and related field work to restore baseline production and improve overall field deliverability; Texas natural gas operations began contributing production during the quarter, with aggregate field volumes reflecting early output as wells returned to service; To date, three wells were successfully reactivated, with five additional wells in progress, and early results increasing net volumes on the reactivated wells by approximately 45% compared to Q4-2025, reflecting growth from initial restart levels and volumes continuing to trend upward; Field infrastructure was materially advanced ahead of volumes, including an increase of more than 500% in field compression capacity, removing prior constraints that prevented increases in production, and expanding operating capacity to approximately 3 million cubic feet per day ("MMcfd"), positioning the system to accommodate incremental production growth; Texas capital deployment remained disciplined, with approximately $1.7 million of actual spend versus $2.4 million estimated for the period, while progressing reactivations, recompletions, and facilities initiatives across the asset base; During Q1-2026, Empire focused on thermal recovery operations and infrastructure initiatives to enhance safety, reliability, and heat-utilization efficiency in the Starbuck Drilling Program ("Starbuck"); The Company recently completed compressor relocation activities at a steam unit, improving operational safety and suppo...

TULSA, Okla., March 16, 2026--(BUSINESS WIRE)--Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today announced an operational update and financial results for fourth quarter and full year 2025, including year-end 2025 proved reserves. FOURTH QUARTER AND FULL YEAR 2025 HIGHLIGHTS Produced full year 2025 net production volumes of 2,242 barrels of oil equivalent per day ("Boe/d") including 1,437 barrels of oil per day ("Bbl/d"); Boe/d is comprised of 64% oil, 18% natural gas liquids ("NGLs"), and 18% natural gas; During Q4-2025, Empire initiated a program to re-activate and work over what was originally planned as 10-12 wells in 2026, and as the Company advanced its multi-phase Texas gas development program, the 2026 outlook now includes 12-30 wells designed to unlock incremental production, enhance system reliability, and position the field for scalable long-term growth; The Company’s three phase development program consists of the following steps: Reactivating multiple wells to restore baseline production and re‑establish stable field deliverability, with operations currently active on 10 wells; Executing targeted recompletions and well-deepening operations to bring additional pay zones online across the Glen Rose, Rodessa, James Lime, Travis Peak, and the Haynesville-Bossier formations; Evaluating deeper gas potential, including a planned 17,000-21,000 foot cleanout and technical evaluation to determine the viability of deeper targets and to refine opportunities within both established and emerging zones in the consolidated Cotton Valley-Bossier and Western Haynesville intervals supported by existing seismic coverage; Initial wells from this program have now begun flowing during cleanup, marking the start of early production response across the area; Empire currently has one active workover rig in the field, with ongoing progress across workovers, recompletions, and facility optimization efforts as the staged reactivation program advances; The Company is executing a broad field program, including ongoing flowline construction and repair work, new location and pad development, and tie-in preparation activities to support sustained deliverability and system readiness for upcoming development phases; Compression capacity...

The share price of Empire Petroleum Corporation (NYSE:EP) surged by 13.99% between November 14 and November 21, 2025, putting it among the Energy Stocks that Gained the Most This Week. Empire Petroleum Corporation (NYSE:EP) is a conventional oil and natural gas producer with a primary focus on US onshore operations. Empire Petroleum Corporation (NYSE:EP) bounced back from its 52-week low after announcing its third-quarter results on November 17, with the company reporting an adjusted EBITDA of $137,000, up 112% QoQ and 345% YoY. Empire’s net equivalent sales also increased by 2% sequentially to 2,398 Boe/d, while net loss decreased by 24% QoQ to $3.84 million. Moreover, as of September 30, the company had approximately $4.6 million in cash on hand, up from $2.29 million on June 30. Mike Morrisett, President and CEO of Empire Petroleum Corporation (NYSE:EP), stated the following in the company’s Q3 earnings call: Despite recent gains, Empire Petroleum Corporation’s (NYSE:EP) share price has fallen by almost 55% since the beginning of 2025. While we acknowledge the potential of EP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Renewable Energy Dividend Stocks to Buy Now and 14 Best Utility Dividend Stocks to Buy Now. Disclosure: None.

TULSA, Okla., November 17, 2025--(BUSINESS WIRE)--Empire Petroleum (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today reported operational and financial results for the third quarter 2025. THIRD QUARTER 2025 HIGHLIGHTS Produced Q3-2025 net production volumes of 1,566 barrels of oil per day ("Bbls/d"), an increase of 5% compared to Q2-2025; Reported 2,398 barrels of oil equivalent per day ("Boe/d"); Boe/d is comprised of 65% oil, 19% natural gas liquids ("NGLs"), and 16% natural gas; Empire continues to advance its enhanced oil recovery ("EOR") efforts in the Starbuck Drilling Program ("Starbuck") in North Dakota, where modified wellhead installations were completed during Q3-2025; Following analysis of the previously planned rare alloy components, the Company implemented an alternative water injection system designed to reduce scaling tendencies and improve system reliability; Empire also filed the final patent for its proprietary hydrocarbon vaporization technology, which leverages elevated temperatures and pressure differentials to increase recovery efficiency; Empire furthered preparations for its inaugural drilling campaign in Texas, positioning additional locations to support a scalable development plan; As part of ongoing groundwork for future horizontal development across multiple prospective pay zones, the Company finalized reprocessing of legacy seismic data; Given current commodity prices, Empire is strategically pacing the start of drilling operations, now anticipated in 2026, to align capital development with market conditions and maximize long-term value creation; In Q3-2025, Empire successfully completed its subscription rights offering ("Rights Offering"), generating approximately $2.5 million in gross proceeds, before transaction costs; The Company received subscriptions for more than 100% of the securities available in the Rights Offering and accordingly, stockholders received their basic subscription privilege. Because there were not enough units to satisfy all oversubscriptions, remaining securities were allocated pro-rata, after eliminating all fractional shares, among oversubscribing stockholders; As disclosed in previous filings, Phil E. Mulacek, Chairman of the Board of Empire and one of the Company’s largest shareholders, parti...

TULSA, Okla., August 13, 2025--(BUSINESS WIRE)--Empire Petroleum (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today reported operational and financial results for the second quarter 2025. SECOND QUARTER 2025 HIGHLIGHTS Produced Q2-2025 net production volumes of 2,357 barrels of oil equivalent per day ("Boe/d"), an increase of 15% compared to Q1-2025; Reported 1,493 barrels of oil per day ("Bbls/d"); Boe/d is comprised of 63% oil, 19% natural gas liquids ("NGLs"), and 18% natural gas; As part of Empire’s Enhanced Oil Recovery ("EOR") efforts in the Starbuck Drilling Program ("Starbuck") in North Dakota, modified wellhead installations are underway and expected to be completed in Q3-2025, with advanced fabrication work progressing toward completion by year-end; While certain rare alloys and specialized materials for the EOR process remain in fabrication, production has continued to improve and operations are showing increased consistency; Installation of the modified rare alloys for the EOR units is expected to be completed and fully operational in Q4-2025; Empire expects to finalize the patented design specifications for its hydrocarbon vaporization technology by the end of Q4-2025, with the system leveraging elevated temperatures and pressure changes to enhance recovery efficiency; Empire made significant progress in preparing for its inaugural drilling campaign in Texas, completing its first drilling pad and preparing multiple locations for entry as part of its development plan; The Company also advanced critical pre-drill activities during Q2-2025, including surface land work, rig evaluation, and the permitting process, laying the groundwork for horizontal development across multiple prospective pay zones identified in the region; Empire expects drilling operations to commence in Q4-2025; Launched a subscription rights offering ("Rights Offering") with the intention to raise approximately $5.0 million in gross proceeds, including $2.5 million from the anticipated future exercise of the warrants issued as part of the Rights Offering, to provide shareholders the opportunity to increase their equity position; Each shareholder of record as of July 10, 2025, is entitled to purchase one unit at a subscription price equal to $0.07367 per unit, each unit co...

TULSA, Okla., May 14, 2025--(BUSINESS WIRE)--Empire Petroleum (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today reported operational and financial results for the first quarter 2025. FIRST QUARTER 2025 HIGHLIGHTS Produced Q1-2025 net production volumes of 2,049 barrels of oil equivalent per day ("Boe/d") including 1,329 barrels of oil per day ("Bbls/d"); Boe/d is comprised of 65% oil, 17% natural gas liquids ("NGLs"), and 18% natural gas; Initiating phase one of Enhanced Oil Recovery ("EOR") efforts in the Starbuck Drilling Program ("Starbuck") in North Dakota yielded encouraging early results, with daily production increasing significantly from approximately 80 bbls/d to more than 1,200 bbls/d during initial operations; Extreme winter conditions and technical setbacks, including a pipeline failure and manufacturing defects in the EOR units, temporarily disrupted operations and resulted in a short-term 75% decrease in net production; As of early Q2-2025, the failed pipeline has been fully replaced, and all three EOR units have been restored to service with interim solutions in place; Empire expects to finalize the patented design specifications for its hydrocarbon vaporization technology, which target sustained heat levels between 550-650 degrees Fahrenheit, by end of Q2-2025; Empire completed its technical evaluation of its Texas region and is preparing to initiate drilling operations in the second half of 2025; Historically, development in the area has focused on vertical wells, but recent analysis identified six to seven prospective pay zones with potential for horizontal development; The Company has completed its necessary infrastructure to support its planned drilling program and continues to position itself for long-term, capital-efficient growth in the area; and Reported Q1-2025 total product revenue $9.0 million, a net loss of $4.2 million, or ($0.12) per diluted share; Adjusted EBITDA of ($0.6) million for Q1-2025. 2025 OUTLOOK "Empire’s first-quarter results reflect the temporary production losses caused by severe weather and operational disruptions, which contributed to a net loss for the quarter," said Phil Mulacek, Chairman of the Board. "Despite these short-term impacts, our flexible structure and multi-basin footprint allow us to quick...

TULSA, Okla., March 27, 2025--(BUSINESS WIRE)--Empire Petroleum (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today reported operational and financial results for the fourth quarter and full year 2024, including year-end 2024 proved reserves. FOURTH QUARTER AND FULL YEAR 2024 HIGHLIGHTS Produced Q4-2024 net production volumes of 2,356 barrels of oil equivalent per day ("Boe/d") including 1,581 barrels of oil per day ("Bbl/d"); 22% increase of BBl/d comparing Q4-2024 vs. Q4-2023; Boe/d is comprised of 67% oil, 17% natural gas liquids ("NGLs"), and 16% natural gas; Since initiating phase one of Enhanced Oil Recovery ("EOR") efforts in the Starbuck Drilling Program ("Starbuck") in North Dakota, Empire remains committed to leveraging advanced recovery technologies to optimize production and convert additional wells into injectors; In Q4-2024, Empire secured approval from the North Dakota Industrial Commission ("NDIC") to convert two more oil wells into injectors, further advancing its EOR strategy; Converting three wells lowered the Company’s short-term production, while better positioning Empire for long-term production growth; In Q4-2024, Empire officially filed a provisional patent application with the United States Patent and Trademark Office in connection with a technology it developed in relation to hydrocarbon vaporization; The Company continues to advance the final design of the patent in preparation for field deployment; Initial results from the 30-day peak period showed more than a 700% increase in Starbuck production, achieved using only temporary solutions at that time; Final fabrication was 30% complete to the target design and Empire expects the intellectual property ("IP") to be developed over the next 90-120 days; As Empire continues to expand its technical focus into its Texas region, the Company successfully completed initial infrastructure to begin a new drilling program in Texas, which is expected to begin in 2025; Year-end 2024 proved reserves were approximately 9.2 million barrels of oil equivalent ("MMBoe"), and the standardized measure of SEC proved reserves discounted at 10% was $98.4 million; At year-end 2024, future net cash flows without the 10% discount applied was approximately $156.4 million; Empire successfully completed two...