2.44
0.00%
Close of 9 Nov 2026, in USD
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About Empire Petroleum
From its filings with the US Securities and Exchange Commission
Empire Petroleum is based in Tulsa, Oklahoma and is incorporated in Delaware. Its shares trade on NYSE under the ticker EP. The SEC classifies its business as crude petroleum & natural gas. In the fiscal year to 31 December 2025, it reported revenue of $34.2m and a net loss of $72.1m. At that date it held total assets of $65.9m and shareholders' equity of −$4.6m.
Empire was incorporated in the state of Delaware in 1985. The consolidated financial statements of Empire Petroleum Corporation and subsidiaries include the accounts of the Company and its wholly-owned subsidiaries.
We operate as a single operating segment. For additional information, see Note 17 – Segment Reporting of Notes to Consolidated Financial Statements.
We are an independent operator in four geographic areas in the United States. For our operated properties, we manage and influence production using a combination of experienced field personnel and third-party service providers to execute our mission. Our producing properties have reasonably predictable production profiles and cash flows, subject to commodity price and cost fluctuations. As is common in the industry in which we operate, we selectively participate in drilling and developmental activities in non-operated properties. Decisions to participate in non-operated properties are made after technical and economic analysis of the projects which also considers the operating expertise and historical track record of the operators.
Quoted from its 10-K, filed 13 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Energy
- Industry
- Oil, Gas & Consumable Fuels
- Listed since
- 27 Oct 1993
- Employees
- 61
- Website
- empirepetroleumcorp.com ↗
- Head office
- 2200 S. UTICA PLACE, TULSA, OK, 74114
- Incorporated in
- DE
- Classification
- Crude Petroleum & Natural Gas
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Phil MulacekIndependent Chairman of the Board$111,500
- Mr. Michael MorrisettPresident, Chief Executive Officer, Principal Financial Officer, Director, since 2015$475,225
- V. Adm. (Retd.) Andrew LewisIndependent Director$99,500
- Mr. Benjamin MarchiveIndependent Director$99,500
- Mr. Mason MatschkeIndependent Director$111,500
- Mr. J. Kevin VannIndependent Director, since 2022$97,000
- Ms. Kali CarterCommunications and Investor Relations Manager, since 2024
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 11
- Environment
- 2
- Social
- 9
- Governance
- 22
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Empire New Mexico LLC operates 48,000 acres in Lea County with 730 wells for oil production.
- Empire Texas owns 30,000 net acres and 140 gross wells in the East Texas Basin.
- Empire North Dakota manages 230 properties across North Dakota and western Montana.
Weaknesses
- Empire Louisiana LLC's assets are not detailed in the provided facts.
- Empire New Mexico's assets are limited to Lea County, New Mexico.
- Empire Texas has only 140 gross wells in the East Texas Basin.
Opportunities
- Empire North Dakota's 230 properties offer expansion potential in North Dakota and Montana.
- Empire Texas's 30,000 net acres could be developed further in the East Texas Basin.
- Empire New Mexico's 48,000 acres in Lea County present growth opportunities.
Threats
- Empire Louisiana LLC's lack of asset details may hinder strategic planning.
- Empire New Mexico's focus on Lea County could limit geographic diversification.
- Empire Texas's 140 gross wells might face production challenges in the East Texas Basin.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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