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Empire Petroleum Corporation announced its uplisting to the NYSE American with a new ticker symbol, EP, effective
Empire Petroleum Corporation (OTCQB:EMPR) announced the complete conversion of its debt into common shares by a major debt holder, Energy Evolution Fund. This move eliminates $5.77 million in principal and over $200K in annual interest payments, strengthening Empire's balance sheet. The company's long-term debt is now reduced to $7 million. This strategic financial maneuver is expected to enhance cash flow and support organic growth initiatives in 2022. Management remains optimistic about the future as it continues to focus on acquiring synergetic assets across various states.
Empire Petroleum Corporation has appointed
Empire Petroleum Corporation (OTCQB: EMPR), a company involved in oil and gas production across Texas, Louisiana, North Dakota, Montana, and New Mexico, will present at EnerCom's The Oil & Gas Conference 2021. The presentation by CEO Tommy Pritchard and President Mike Morrisett is scheduled for August 17 at 3:10 PM MDT / 5:10 PM EDT. Investors can register for the live webcast and download investor slides at www.theoilandgasconference.com/webcast/. A replay will be available for six months on the company’s website.
Empire Petroleum Corporation (OTCQB: EMPR) has appointed PCG Advisory, a leading investor relations firm, to enhance its corporate communications and investor outreach strategies. CEO Tommy Pritchard stated that the timing is optimal for this engagement as the company aims to optimize production and pursue synergistic acquisitions. PCG Advisory's expertise is expected to increase Empire's visibility among investors, thereby supporting its growth objectives. The company operates in several states, focusing on reducing operating costs and improving margins.
Empire Petroleum Corporation (OTCQB:EMPR) has acquired producing oil and gas assets in Lea County, New Mexico, through its subsidiary, Empire New Mexico LLC. The acquisition involves ~700 wells and ~40,000 net acres in the Permian Basin, producing approximately 1,100 net BOEPD, with 67% being oil. The deal was financed by a $16.25 million senior secured convertible note at 3.8% interest. Management believes in the significant resource base of these assets and sees potential for increased production through infill drilling.
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