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.
Empire Petroleum Corporation (NYSE American: EP) is a Tulsa-based oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana. This news page aggregates press releases and third-party coverage related to Empire’s operations, financial performance, capital structure, and regulatory developments.
Readers following EP news can expect regular updates on quarterly and interim results, including reported production volumes, product revenue, net income or loss metrics, and operating cost trends as disclosed in the company’s press releases and Form 8-K filings. Empire frequently reports on activity in its core areas, such as enhanced oil recovery efforts in North Dakota’s Williston Basin, CO₂ EOR initiatives and regulatory outcomes in New Mexico’s Eunice Monument South Unit, and development preparations in the East Texas Basin.
News items also cover financing and capital initiatives, including amendments to the company’s revolving credit facility with Equity Bank, subscription rights offerings to existing stockholders, and shareholder-linked financing such as convertible promissory notes and warrants. These announcements provide insight into how Empire funds its drilling programs, EOR projects, and working capital needs.
In addition, Empire issues updates on regulatory and legal milestones, such as decisions by the New Mexico Oil Conservation Commission related to the Residual Oil Zone and saltwater disposal wells, which the company views as important to the long-term value and cost structure of its New Mexico assets.
Investors, analysts, and interested observers can use this news feed to monitor Empire’s operational momentum, changes in its capital structure, and management’s commentary on commodity markets and development plans. For a fuller picture, readers often review these news items alongside the company’s SEC filings and official financial statements.
Empire Petroleum (NYSE American: EP), an oil and gas company operating in multiple states, has initiated its previously announced rights offering to raise up to $5.0 million in gross proceeds. The offering includes up to $2.5 million from warrant exercises.
Shareholders as of July 10, 2025, will receive one subscription right per share held, allowing them to purchase units at $5.30 each. Each unit comprises 0.0139 shares of common stock and one warrant exercisable for 0.0136 shares at $5.46 per share. The rights offering expires on July 25, 2025. Chairman Phil E. Mulacek has indicated his intention to fully participate in the offering and exercise his over-subscription rights.
Empire Petroleum (NYSE American: EP), an oil and gas company operating in New Mexico, North Dakota, Montana, Texas, and Louisiana, has announced a rights offering to raise up to $5.0 million in gross proceeds, including $2.5 million from warrant exercises.
The company has set July 10, 2025 as the record date for the rights offering. Shareholders will receive one subscription right per common share owned, allowing them to purchase units at $5.30 each. Each unit consists of 0.0139 shares of common stock and one warrant to purchase 0.0136 additional shares. If fully subscribed, the offering will result in approximately 471,698 new common shares and potential for 457,875 additional shares through warrant exercise.
The rights offering is scheduled to expire on July 25, 2025 at 5:00 p.m. ET. Shareholders who fully exercise their rights will have over-subscription privileges, subject to proration.
Empire Petroleum (EP) reported its Q4 and full-year 2024 results, highlighting a 22% year-over-year increase in Q4-2024 oil production to 1,581 Bbl/d, with total production reaching 2,356 Boe/d. The company reported full-year 2024 revenue of $44.0 million but faced a net loss of $16.2 million ($0.54 per share).
Key developments include successful Enhanced Oil Recovery (EOR) initiatives in North Dakota, with initial results showing a 700% increase in Starbuck production. Year-end 2024 proved reserves stood at 9.2 MMBoe with a standardized measure of $98.4 million. The company completed two oversubscribed rights offerings in 2024, raising $20.7 million and $10.0 million, and increased its revolving credit facility from $10.0 million to $20.0 million.
Empire Petroleum has amended its Revolver Loan Agreement with Equity Bank, doubling the total principal commitment from $10 million to $20 million through December 29, 2026. The company currently has approximately $8.4 million borrowed on the facility, which is secured by assets from Empire North Dakota and Empire ND Acquisition subsidiaries. This increase follows the company's successful completion of an oversubscribed $10 million rights offering earlier this year and will provide additional financial resources for North Dakota development initiatives.
Empire Petroleum (EP) reported Q3 2024 results with net production of 2,460 barrels of oil equivalent per day, including 1,573 barrels of oil per day. The company posted total product revenue of $10.9 million and a net loss of $3.6 million ($0.12 per share). Key developments include completion of first-stage Enhanced Oil Recovery activities in North Dakota, filing a provisional patent for hydrocarbon vaporization technology, and successful completion of a $10.0 million oversubscribed rights offering at $5.05 per share. Production mix comprised 64% oil, 17% natural gas liquids, and 19% natural gas.
Empire Petroleum (NYSE American: EP) announced the full subscription of its Rights Offering, which expired on October 24, 2024. The offering was oversubscribed with more than 100% of available shares requested. Stockholders will receive their basic subscription rights, with remaining shares allocated pro-rata among oversubscribing stockholders. The company's Chairman Phil E. Mulacek and largest shareholder Energy Evolution Master Fund fully participated in both basic and over-subscription rights. The offering is expected to generate approximately $10 million in gross proceeds, which will fund drilling activities in North Dakota and New Mexico, workovers in Texas, land purchases, and enhanced oil recovery facilities in the Starbuck field.
Empire Petroleum (NYSE American: EP) has extended the expiration date of its previously announced subscription rights offering to October 24, 2024. The company aims to raise gross proceeds of up to $10.0 million. The extension allows stockholders more time to consider participation and arrange finances, partly due to disruption caused by Hurricane Milton.
Key points:
- One subscription right distributed for each share of Common Stock held as of September 30, 2024
- Each right allows purchase of 0.063 shares at $5.05 per whole share
- Minimum 16 shares required to purchase at least one new share
- Over-subscription rights available for full subscribers
- Chairman Phil E. Mulacek and largest shareholder Energy Evolution Fund, intend to fully participate
Empire Petroleum (NYSE American: EP) has commenced its previously announced subscription rights offering to raise up to $10.0 million. The company is distributing one subscription right for each share of common stock held as of September 30, 2024. Each right allows the purchase of 0.063 shares at $5.05 per share. Stockholders must hold at least 16 shares to receive rights to purchase one whole share. The offering includes over-subscription rights and is set to expire on October 16, 2024. Chairman Phil E. Mulacek and Energy Evolution Fund, , the largest shareholders, have indicated their intention to fully participate and exercise over-subscription rights. The offering is described in detail in the prospectus supplement filed with the SEC on October 1, 2024.
Empire Petroleum (NYSE American: EP) has announced a subscription rights offering to raise up to $10 million. The company will distribute one subscription right for each share of common stock held as of the record date of September 30, 2024. Each right allows the purchase of 0.063 shares at $5.05 per share, potentially issuing 1.98 million new shares if fully subscribed.
The offering is set to expire on October 16, 2024. Shareholders can over-subscribe for additional shares, subject to proration. The rights are non-transferable and won't be listed for trading. Detailed information will be provided in a prospectus supplement filed with the SEC. Securities Transfer will act as the subscription and information agent for the offering.
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