Empire Petroleum Corp (EMPR) Financial Statements (2024 and earlier)

Company Profile

Business Address 2200 S. UTICA PLACE
TULSA, OK 74114
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,2956,76411,94415,73412,4375,354
Cash and cash equivalents1,2956,76411,94415,73412,4375,354
Receivables7,6936,5047,7805,9828,8478,491
Inventory, net of allowances, customer advances and progress billings1,5382,2611,8401,6051,193 
Inventory1,5382,2611,8401,6051,193 
Prepaid expense1,4651,4131,048724540542
Derivative instruments and hedges, assets 2793122349  
Other undisclosed current assets     1911,054
Total current assets:12,01817,03622,73524,39423,20715,441
Noncurrent Assets
Operating lease, right-of-use asset  9791,140770744
Property, plant and equipment50,17546,90045,31135,89733,54630,637
Derivative instruments and hedges    52  
Other undisclosed noncurrent assets7477472,5204,7606,5685,998
Total noncurrent assets:50,92247,64748,81041,84940,88437,378
TOTAL ASSETS:62,94064,68271,54566,24264,09152,819
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9,97512,01415,30411,55210,8598,960
Accounts payable4,1595,7335,8434,2273,3252,675
Accrued liabilities5,8166,2809,4617,3257,5346,285
Debt  257257251209181
Other undisclosed current liabilities2,6262,4812,0591,2591,4061,553
Total current liabilities:12,60114,75217,62113,06212,47410,694
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,060520548614591603
Long-term debt, excluding current maturities1,0601,0731,0775,1756,8067,223
Finance lease, liability    614591 
Other undisclosed long-term debt and lease obligation  (554)(529)(5,175)(6,806)(6,620)
Liabilities, other than long-term debt, including:514520548   
Lease deposit liability      
Operating lease, liability514     
Other undisclosed liabilities, other than long-term debt  520548   
Other undisclosed noncurrent liabilities30,45029,29129,59328,29628,18627,591
Total noncurrent liabilities:32,02330,33130,68928,91028,77728,193
Total liabilities:44,62445,08348,30941,97241,25138,887
Equity
Equity, attributable to parent18,31619,60023,23624,27122,84013,931
Common stock828282828180
Additional paid in capital75,30874,12775,30374,04972,83469,462
Accumulated deficit(57,074)(54,609)(52,149)(49,860)(50,076)(55,610)
Total equity:18,31619,60023,23624,27122,84013,931
TOTAL LIABILITIES AND EQUITY:62,94064,68271,54566,24264,09152,819

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues9,71010,0528,50814,79216,54013,046
Gross profit:9,71010,0528,50814,79216,54013,046
Operating expenses(12,012)(12,275)(10,724)(13,350)(10,716)(9,312)
Operating income (loss):(2,302)(2,223)(2,216)1,4425,8243,734
Nonoperating expense(185)(237)(162)(125)(112)(111)
Income (loss) from continuing operations before equity method investments, income taxes:(2,486)(2,460)(2,378)1,3175,7123,623
Other undisclosed income (loss) from continuing operations before income taxes210(982)   
Income (loss) from continuing operations before income taxes:(2,465)(2,460)(3,359)1,3175,7123,623
Income tax benefit      
Other undisclosed loss from continuing operations   (209)   
Income (loss) from continuing operations:(2,465)(2,460)(3,568)1,3175,7123,623
Income before gain (loss) on sale of properties:1,3175,7123,623
Net income (loss):(2,465)(2,460)(3,568)1,3175,7123,623
Other undisclosed net income (loss) attributable to parent   1,279(1,101)(178) 
Net income (loss) available to common stockholders, diluted:(2,465)(2,460)(2,290)2165,5343,623

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(2,465)(2,460)(3,568)1,3175,7123,623
Comprehensive income (loss), net of tax, attributable to parent:(2,465)(2,460)(3,568)1,3175,7123,623

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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