Empire Petroleum Corporation (EP) Financial Statements (2026 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)
Annual | Quarterly

3/31/2026
MRQ
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,1892,2517,79311,9443,612158
Cash and cash equivalent1,1892,2517,79311,9443,612158
Receivables5,1228,1548,3557,7807,7341,252
Inventory, net of allowances, customer advances and progress billings1,2621,3051,4331,8401,038531
Inventory1,2621,3051,4331,8401,038531
Prepaid expense6076407581,048679282
Derivative instruments and hedges, assets   40712255 
Total current assets:8,18012,35118,74522,73513,1182,223
Noncurrent Assets
Operating lease, right-of-use asset   1,077979779 
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization56,299110,09272,39645,31130,6778,225
Other noncurrent assets1,3941,425    
Other undisclosed noncurrent assets   3972,5205,515802
Total noncurrent assets:57,693111,51873,87148,81036,9729,027
TOTAL ASSETS:65,873123,86892,61671,54550,09011,250
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities23,41520,80023,51315,30410,1744,636
Accounts payable10,79910,45216,4375,8434,3301,938
Accrued liabilities12,61610,3487,0759,4615,8442,698
Debt641  2571801,302
Derivative instruments and hedges, liabilities      
Other undisclosed current liabilities2864701,5372,0591,701136
Total current liabilities:24,34221,27025,05017,62112,0546,073
Noncurrent Liabilities
Long-term debt and lease obligation, including: 1,023 1,060548646534
Long-term debt, excluding current maturities 1,023 1,0601,0776,9147,720
Other undisclosed long-term debt and lease obligation    (529)(6,268)(7,186)
Liabilities, other than long-term debt, including:30,699144544548  
Asset retirement obligations30,406     
Operating lease, liability12144544   
Derivative instruments and hedges, liabilities 281     
Other undisclosed liabilities, other than long-term debt    548  
Other undisclosed noncurrent liabilities14,41539,68931,00529,59327,55523,084
Total noncurrent liabilities:46,13739,83332,61030,68928,20123,618
Total liabilities:70,47961,10357,65948,30940,25529,691
Equity
Equity, attributable to parent, including:(4,606)62,76534,95623,2369,834(18,441)
Common stock949385827925
Additional paid in capital148,191143,48999,49075,30369,98822,152
Accumulated deficit(152,891)(80,817)(64,619)(52,149)(59,233)(40,618)
Other undisclosed equity, attributable to parent     (1,000) 
Total equity:(4,606)62,76534,95623,2369,834(18,441)
TOTAL LIABILITIES AND EQUITY:65,873123,86892,61671,54550,09011,250

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues34,20343,65040,07652,88727,9047,728
Gain (loss) on disposition of assets for financial service operations  (389)(66)(388)(586)1,269
Cost of revenue
(Cost of Product and Service Sold)		 (4,768)    
Gross profit:34,20338,88240,07652,88727,9047,728
Operating expenses(105,518)(57,316)(51,701)(44,103)(28,377)(25,311)
Other undisclosed operating income 4,768    
Operating income (loss):(71,315)(13,665)(11,625)8,784(473)(17,583)
Nonoperating income (expense)788(1,515)(1,000)(510)(8,601)(521)
Other nonoperating income788     
Interest and debt expense(1,547)(10)   (58)
Income (loss) from continuing operations before equity method investments, income taxes:(72,074)(15,191)(12,626)8,275(9,074)(18,163)
Other undisclosed income (loss) from continuing operations before income taxes (1,007)24(982)  
Income (loss) from continuing operations before income taxes:(72,074)(16,198)(12,602)7,293(9,074)(18,163)
Income tax expense (benefit)   132(209)  
Income (loss) from continuing operations:(72,074)(16,198)(12,470)7,084(9,074)(18,163)
Loss before gain (loss) on sale of properties:✕✕✕✕✕(9,074)(18,163)
Net income (loss):(72,074)(16,198)(12,470)7,084(9,074)(18,163)
Other undisclosed net income (loss) attributable to parent     (9,541)1,327
Net income (loss) available to common stockholders, diluted:(72,074)(16,198)(12,470)7,084(18,615)(16,835)

Comprehensive Income ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income (loss):(72,074)(16,198)(12,470)7,084(9,074)(18,163)
Comprehensive income (loss), net of tax, attributable to parent:(72,074)(16,198)(12,470)7,084(9,074)(18,163)

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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