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 (EP) delivers conventional oil and natural gas production through strategically located onshore assets across key US regions. This news hub provides investors and industry observers with essential updates about the company's operational developments and financial performance.
Access timely, factual information spanning earnings reports, asset acquisitions, operational milestones, and leadership updates. Our curated collection serves as a reliable resource for tracking EP's activities in established energy regions including the Permian Basin, Bakken formation, and Gulf Coast operations.
Key updates include production enhancements from mature well rehabilitation, strategic hedging program adjustments, and regional expansion efforts. Content maintains strict adherence to factual reporting without speculative analysis, supporting informed decision-making for stakeholders.
Bookmark this page for streamlined access to Empire Petroleum's official communications and verified third-party analysis. Check regularly for updates reflecting the company's focus on stable production through operational efficiency in conventional energy markets.
Empire Petroleum (NYSE American: EP) reported its Q1 2024 results and provided an update on its North Dakota drilling program. The company reported net sales volumes of 2,207 barrels of oil equivalent per day (Boe/d), with a significant increase in daily oil sales volumes. The company initiated a $20.66M Rights Offering at $5.00 per share to fund ongoing projects, successfully completed in Q2 2024. Q1 2024 revenue was $9.4 million, with a net loss of $4 million, or $0.15 per share. Adjusted EBITDA was negative at $0.7 million. The ongoing North Dakota development program includes a 3-D seismic survey, Enhanced Oil Recovery (EOR) initiatives, and optimization of waterflood units in New Mexico. The company aims for production growth in the latter half of 2024 and significant opportunities in New Mexico’s Lea County for 2025.
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