Empire Petroleum Corp (EMPR) financial statements (2021 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments158134286591 18 
Cash and cash equivalents158134286591 18 
Receivables1,2521,0479286799831,164787
Inventory, net of allowances, customer advances and progress billings531589567155476468435
Inventory531589567155476468435
Prepaid expense28221883222248141102
Derivative instruments and hedges, assets   219   
Other undisclosed current assets 5068511,313 776447
Total current assets:2,2232,4952,7153,1801,7072,5681,771
Noncurrent Assets
Property, plant and equipment8,22519,51719,7958,7299,308  
Oil and gas property, successful effort method   8,7179,2959,2149,980
Other undisclosed noncurrent assets802748613(7,648)(9,295)1314
Total noncurrent assets:9,02720,26420,4089,7989,3089,2289,995
TOTAL ASSETS:11,25022,75923,12312,97811,01511,79511,766
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,6363,7993,3962,0002,1301,7602,262
Accounts payable1,9381,5361,0401,0951,026778734
Accrued liabilities2,6982,2632,3569041,1049821,528
Debt1,3028,8358,7318,33997151150
Asset retirement obligation    5,480  
Other undisclosed current liabilities136   (5,468)  
Total current liabilities:6,07312,63512,12810,3382,2381,9112,412
Noncurrent Liabilities
Long-term debt and lease obligation, including:534141161 7,715  
Long-term debt, excluding current maturities7,720141161 7,715  
Other undisclosed long-term debt and lease obligation(7,186)      
Liabilities, other than long-term debt     3,7653,701
Asset retirement obligations     3,7653,701
Other undisclosed noncurrent liabilities23,08416,91416,6505,8876,0007,9956,580
Total noncurrent liabilities:23,61817,05616,8115,88713,71511,75910,281
Total liabilities:29,69129,69028,93816,22615,95313,67012,693
Stockholders' equity
Stockholders' equity attributable to parent, including:(18,441)(6,931)(5,815)(3,248)(4,939)(1,875)(928)
Common stock25252121202020
Additional paid in capital22,15219,85319,33218,92518,82418,77418,774
Accumulated deficit(40,618)(26,809)(25,168)(22,195)(23,783)(20,669)(19,722)
Warrants and rights outstanding    18,346  
Other undisclosed stockholders' equity attributable to parent    (18,346)  
Total stockholders' equity:(18,441)(6,931)(5,815)(3,248)(4,939)(1,875)(928)
TOTAL LIABILITIES AND EQUITY:11,25022,75923,12312,97811,01511,79511,766

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Gain (loss) on disposition of assets for financial service operations 125(402)(1,144)(892)493501
Gross profit:1,7701,5425923,8239182,1882,497
Operating expenses(15,439)(3,184)(3,442)(3,246)(3,870)(2,990)(4,341)
Operating income (loss):(13,669)(1,641)(2,850)577(2,953)(802)(1,843)
Nonoperating expense(140)(125)     
Interest and debt expense(15) (123)133161145163
Income (loss) from continuing operations before income taxes:(13,823)(1,766)(2,973)710(2,791)(656)(1,680)
Other undisclosed income from continuing operations    380  
Income (loss) before gain (loss) on sale of properties:(13,823)(1,766)(2,973)710(2,411)(656)(1,680)
Other undisclosed net income   878   
Net income (loss):(13,823)(1,766)(2,973)1,588(2,411)(656)(1,680)
Other undisclosed net income (loss) attributable to parent15125  (703)(291)(326)
Net income (loss) available to common stockholders, diluted:(13,809)(1,641)(2,973)1,588(3,114)(947)(2,006)

Comprehensive Income ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income (loss):(13,823)(1,766)(2,973)1,588(2,411)(656)(1,680)
Comprehensive income (loss), net of tax, attributable to parent:(13,823)(1,766)(2,973)1,588(2,411)(656)(1,680)

Statements sources

The financial statements are based on the company's filings with the 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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