EMPIRE PETROLEUM (EP) Company Report

Empire Petroleum Corporation has launched a rights offering to raise up to approximately $6.0 million.
The offering provides one non-transferable subscription right for each share of common stock held as of the February 2, 2026 record date.
Each right allows holders to purchase 0.057 new shares of common stock at a subscription price of $2.99 per share.
The rights offering, which includes 2,006,689 shares of common stock, is scheduled to expire on February 27, 2026, at 5:00 p.m. Eastern Time, unless extended.
Energy Evolution Master Fund, Ltd., the company's largest shareholder, and Chairman Phil E. Mulacek have indicated their intent to fully participate in the offering and exercise their over-subscription rights.

5 days ago

Empire Petroleum Announces Record Date for Proposed Rights Offering

Empire Petroleum Corporation announced on January 21, 2026, a record date of February 2, 2026, for a proposed subscription rights offering.
The company intends to raise gross proceeds of up to approximately $6.0 million through this offering.
Each subscription right will entitle the holder to purchase 0.057 shares of Common Stock at a subscription price of $2.99 per whole share.
The rights offering is expected to expire on February 27, 2026.

Jan 21, 2026, 9:04 PM

Empire Petroleum Reports Q3 2025 Results, Advances Development, and Completes Rights Offering

Earnings

New Projects/Investments

Empire Petroleum reported Q3 2025 total product revenue of $9.4 million and a net loss of $3.8 million, or ($0.11) per diluted share.
Net production volumes for Q3 2025 were 1,566 barrels of oil per day (Bbls/d), representing a 5% increase compared to Q2 2025.
The company successfully completed a subscription rights offering, generating approximately $2.5 million in gross proceeds, and as of September 30, 2025, had approximately $4.6 million in cash on hand.
Empire Petroleum is strategically delaying the start of its inaugural drilling operations in Texas until 2026 to align capital development with market conditions.

Nov 17, 2025, 9:02 PM

Empire Petroleum Amends Promissory Note and Warrant Terms

Debt Issuance

Empire Petroleum Corporation (EP) entered into a Letter Agreement on November 5, 2025, with Phil Mulacek, amending the terms of a $4,000,000 Promissory Note and its related Warrant.
For the $2,000,000 "First Advance" under the Note, the Conversion Price was changed from $4.27 to $4.32 per share, and the number of Warrant Shares was reduced from 281,030 to 138,889.
Any future advances of up to $2,000,000 are now at Mr. Mulacek's sole and absolute discretion, with conversion and warrant exercise prices for these "Additional Advances" to be based on the average closing price of the five trading days preceding the advance.
Mr. Mulacek's aggregate entitlement to common stock from conversions under the Note and exercises under all related Warrants is capped at 1,217,798 shares.