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Empire Petroleum - EP STOCK NEWS

Welcome to our dedicated page for Empire Petroleum news (Ticker: EP), a resource for investors and traders seeking the latest updates and insights on Empire Petroleum stock.

Overview

Empire Petroleum Corporation (EP) is a conventional oil and natural gas producer focusing on onshore operations within the United States. Specializing in oil production, gas extraction, and onshore operations, the company centers its activities on mature, low operational cost assets that offer longevity and slow production decline. Its portfolio spans major resource-rich regions including the Permian Basin, Bakken region, and the central Gulf Coast, positioning the company as a stable and reliable player in the conventional energy sector.

Core Business Areas

Empire Petroleum’s business model is built on acquiring and efficiently managing mature producing assets. The company leverages operational expertise to optimize well rehabilitation, stimulation, and field maintenance processes, ensuring that production remains steady and reserves are maximized. The majority of its assets are strategically located in key US regions such as New Mexico, North Dakota, Montana, Louisiana, and Texas. This regional diversity not only supports a balanced asset base but also mitigates risks associated with market and operational fluctuations.

Operational Efficiency and Asset Management

The company’s competitive strength lies in its operational efficiencies which convert mature assets into consistent low-risk cash flows. By focusing on economical well rehabilitation and employing meticulous field management strategies, Empire Petroleum maintains a portfolio that is cost-effective with slow decline profiles. Such an approach enhances the company’s resilience, allowing it to sustain production performance even as asset maturity progresses.

Regional Focus and Diversification

Empire Petroleum’s operations span several prominent oil and natural gas producing areas across the US onshore market. Production is derived from both operated and non-operated wells in multiple counties and parishes, including Lea County in New Mexico, several counties in North Dakota such as Bottineau, Renville, Burke, and McKenzie, as well as Richland County in Montana, regions in Louisiana, and counties in Texas like Houston, Leon, and Madison. This geographic distribution underscores the company’s strategic diversification and its reliance on proven, resource-rich regions.

Risk Management and Hedging Strategy

A cornerstone of the company’s operational approach is its robust risk management strategy. Empire Petroleum employs a multi-year hedging program to mitigate the volatility of oil and natural gas markets. This strategic hedging locks in favorable pricing over extended periods, thereby ensuring predictable cash flows and providing financial stability, even in fluctuating market conditions.

Market Position and Competitive Landscape

Positioned within a mature segment of the energy market, Empire Petroleum focuses on steady, long-term asset productivity rather than high-risk exploration. Its emphasis on established fields and economically efficient operations differentiates it from competitors that may be more speculative in nature. The company’s commitment to operational excellence and effective asset management makes it a noteworthy participant in the conventional oil and natural gas sector, appealing to investors who prioritize stability and consistent cash generation.

Investment Considerations

For those analyzing Empire Petroleum, it is essential to note the company’s focus on stable, low-risk production assets combined with a disciplined approach to operational management. The diversified regional footprint, complemented by an effective hedging strategy, provides a framework that supports sustainable cash flow generation and mitigates market risks. This comprehensive operational model positions Empire Petroleum as a balanced entity within the broader and competitive conventional energy industry.

Rhea-AI Summary
Empire Petroleum (EP) reports operational and financial results for Q4 and full year 2023, highlighting net sales volumes, net losses, proved reserves, and upcoming projects. The company posted a net loss of $4.8 million in Q4 and $12.5 million for the full year 2023. Despite higher expenses, Empire's year-end 2023 proved reserves were 9.1 MMBoe, with a standardized measure of $83.0 million. The company initiated technical work for production uplift opportunities in New Mexico and completed a $20 million equity raise. Looking ahead to 2024, Empire is focusing on the Starbuck Field EOR development project in North Dakota, evaluating flood performance optimization in New Mexico, and reviewing potential development opportunities in Texas. Management is optimistic about the future growth prospects and the significant potential of their asset base.
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Empire Petroleum (EP) announces modified terms for its subscription rights offering, allowing holders of common stock to purchase shares at $5.00 per share, with gross proceeds of up to $20.66 million. The Rights Offering has been extended to April 10, 2024, with over-subscription rights available. Chairman and largest shareholders intend to participate fully. Holders of subscription rights must review provided materials and deliver full payment to the subscription agent.
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Empire Petroleum (EP) to participate in the 36th Annual ROTH Conference, showcasing recent operations and results.
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Empire Petroleum Corporation (EP) has initiated a subscription rights offering to raise up to $25.0 million, distributing one subscription right for each share of Common Stock held. The Rights Offering allows holders to purchase 0.161 shares of Common Stock at $6.05 per share, with the opportunity to over-subscribe for additional shares. The offering is expected to expire on April 3, 2024, with key shareholders, including Phil E. Mulacek and Energy Evolution Fund, Ltd., indicating their participation and full subscription. Holders can obtain more information from the prospectus supplement filed with the SEC.
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Empire Petroleum Corporation (EP) corrects information regarding its Rights Offering to raise up to $25 million, offering 4,132,232 shares at $6.05 per share. The correction does not alter other details from the initial announcement.
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Empire Petroleum Corporation (NYSE American: EP) announces a Rights Offering to raise up to $25 million by offering 4,132,232 shares of Common Stock at $6.05 per share. The Record Date is March 7, 2024, with an Expiration Date of March 25, 2024. Holders of Common Stock will receive one subscription right for each share held, with the opportunity to over-subscribe for additional shares. The Rights Offering is non-transferable and not tradable on any stock exchange.
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Empire Petroleum (EP) provides updates on its Starbuck Drilling Program in North Dakota, reporting positive operational and financial results for Q4 2023. The company aims for significant production growth in 2024 and focuses on asset development in New Mexico and Texas. Despite higher expenses and a deficit in working capital, Empire shows progress with increased production and ongoing development efforts.
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Empire Petroleum (NYSE American: EP) announced operational and financial results for Q3 2023, including net sales volumes, product revenue, net income, and adjusted EBITDA. The company made significant progress on its Starbuck Drilling Program in North Dakota and executed strategic initiatives to support its capital structure and asset development plans. The targeted drilling program is expected to drive a meaningful increase in production levels and cash flow, with initial well log results exceeding expectations.
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Empire Petroleum Corporation announces the commencement of its 2023 drilling program with a new well in North Dakota.
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Empire Petroleum (NYSE American: EP) announced its operational and financial results for Q2 2023. The company grew average daily oil sales volumes by 6% sequentially and 4% year-over-year. They reported sales volumes of 2,135 Boe/d compared to 2,206 Boe/d in Q1 2023. Revenue was $9.7 million with a net loss of $2.5 million. Adjusted EBITDA was $0.2 million. Empire ended Q2 2023 with $1.6 million of liquidity. They continued their development program with capital spending of $3.1 million for H1 2023. Empire recently acquired additional working interests in three properties in New Mexico.
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FAQ

What is the current stock price of Empire Petroleum (EP)?

The current stock price of Empire Petroleum (EP) is $5.32 as of April 17, 2025.

What is the market cap of Empire Petroleum (EP)?

The market cap of Empire Petroleum (EP) is approximately 182.0M.

What is the primary focus of Empire Petroleum?

Empire Petroleum is focused on conventional oil and natural gas production from mature onshore assets in key US regions.

How does Empire Petroleum generate its revenue?

The company generates revenue primarily through the efficient production of oil and natural gas, leveraging long-life, low-cost producing assets and cost-effective operational management.

Which regions are key to Empire Petroleum’s operations?

The company operates in vital regions such as the Permian Basin, Bakken region, and central Gulf Coast, with production sites across states including New Mexico, North Dakota, Montana, Louisiana, and Texas.

What strategies does Empire Petroleum use to maintain production levels?

Empire Petroleum sustains production through economically efficient well rehabilitation, stimulation, and rigorous field management, all aimed at maximizing long-term asset productivity.

How does the multi-year hedging program benefit the company?

The multi-year hedging program locks in pricing over extended periods, thereby reducing the impact of market volatility and ensuring steady, predictable cash flows from operations.

How does Empire Petroleum differentiate itself from competitors?

The company sets itself apart by focusing on low-risk, mature assets rather than high-risk exploration. Its emphasis on operational efficiency, diversified regional operations, and strategic hedging contributes to a stable business model.
Empire Petroleum

NYSE:EP

EP Rankings

EP Stock Data

181.98M
14.53M
56.99%
10.24%
3.85%
Oil & Gas E&P
Natural Gas Transmission
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United States
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