Empire Petroleum Corp (EMPR) financial statements (2022 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)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 3,612 | 158 | 85 | 78 | 69 | 18 | |||
| Cash and cash equivalents | 3,612 | 158 | 85 | 78 | 69 | 18 | |||
| Receivables | 7,734 | 1,252 | 983 | 125 | |||||
| Inventory, net of allowances, customer advances and progress billings | 1,038 | 531 | 476 | ||||||
| Inventory | 1,038 | 531 | 476 | ||||||
| Prepaid expense | 679 | 282 | 248 | 45 | 14 | ||||
| Derivative instruments and hedges, assets | 55 | ||||||||
| Other undisclosed current assets | 113 | ||||||||
| Total current assets: | 13,118 | 2,223 | 1,707 | 368 | 78 | 83 | 18 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 779 | ✕ | ✕ | ✕ | ✕ | ||||
| Property, plant and equipment | 30,677 | 8,225 | 9,308 | (19) | |||||
| Oil and gas property, successful effort method | 9,295 | 1,630 | |||||||
| Other undisclosed noncurrent assets | 5,515 | 802 | (9,295) | 19 | 300 | 300 | 181 | ||
| Total noncurrent assets: | 36,972 | 9,027 | 9,308 | 1,630 | 300 | 300 | 181 | ||
| TOTAL ASSETS: | 50,090 | 11,250 | 11,015 | 1,997 | 378 | 383 | 200 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 10,174 | 4,636 | 2,130 | 462 | 65 | 23 | 8 | ||
| Accounts payable | 4,330 | 1,938 | 1,026 | 321 | |||||
| Accrued liabilities | 5,844 | 2,698 | 1,104 | 141 | |||||
| Other undisclosed accounts payable and accrued liabilities | 65 | 23 | 8 | ||||||
| Debt | 180 | 1,302 | 97 | 279 | 137 | ||||
| Asset retirement obligation | 5,480 | ||||||||
| Other undisclosed current liabilities | 1,701 | 136 | (5,468) | ||||||
| Total current liabilities: | 12,054 | 6,073 | 2,238 | 741 | 202 | 23 | 8 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 646 | 534 | 7,715 | ||||||
| Long-term debt, excluding current maturities | 6,914 | 7,720 | 7,715 | ||||||
| Other undisclosed long-term debt and lease obligation | (6,268) | (7,186) | |||||||
| Liabilities, other than long-term debt | 231 | ||||||||
| Asset retirement obligations | 231 | ||||||||
| Other undisclosed noncurrent liabilities | 27,555 | 23,084 | 6,000 | 1,176 | |||||
| Total noncurrent liabilities: | 28,201 | 23,618 | 13,715 | 1,406 | |||||
| Total liabilities: | 40,255 | 29,691 | 15,953 | 2,147 | 202 | 23 | 8 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 9,834 | (18,441) | (4,939) | (150) | 128 | 301 | 191 | ||
| Common stock | 79 | 25 | 20 | 17 | 9 | 9 | 9 | ||
| Common stock, share subscribed but unissued, subscriptions receivable | 3 | (2) | |||||||
| Additional paid in capital | 69,988 | 22,152 | 18,824 | 16,961 | 16,232 | 15,572 | 15,082 | ||
| Accumulated deficit | (59,233) | (40,618) | (23,783) | (17,128) | (16,111) | (15,281) | (14,899) | ||
| Warrants and rights outstanding | 18,346 | ||||||||
| Stockholders' equity note, subscriptions receivable | (5) | ✕ | |||||||
| Other undisclosed stockholders' equity attributable to parent | (1,000) | (18,346) | 4 | ||||||
| Total stockholders' equity: | 9,834 | (18,441) | (4,939) | (150) | 128 | 301 | 191 | ||
| Other undisclosed liabilities and equity | 47 | 59 | |||||||
| TOTAL LIABILITIES AND EQUITY: | 50,090 | 11,250 | 11,015 | 1,997 | 378 | 383 | 200 | ||
Income statement (P&L) ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 27,904 | 7,728 | 5,859 | 465 | 300 | |||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 300 | |||
| Gain (loss) on disposition of assets for financial service operations | (586) | 1,269 | 34 | 118 | ✕ | ✕ | ✕ | |
| Gross profit: | 27,904 | 7,728 | 5,859 | 465 | 300 | |||
| Operating expenses | (28,377) | (25,311) | (12,010) | (1,381) | (757) | (378) | (175) | |
| Other undisclosed operating loss | (300) | |||||||
| Operating loss: | (473) | (17,583) | (6,151) | (916) | (757) | (378) | (175) | |
| Nonoperating expense | (8,601) | (521) | (73) | (4) | ||||
| Other nonoperating expense | (73) | (4) | ||||||
| Interest and debt expense | (58) | 504 | (101) | (73) | (4) | |||
| Loss from continuing operations before income taxes: | (9,074) | (18,163) | (5,647) | (1,017) | (903) | (386) | (175) | |
| Income tax benefit | 380 | |||||||
| Net loss: | (9,074) | (18,163) | (5,267) | (1,017) | (903) | (386) | (175) | |
| Other undisclosed net income (loss) attributable to parent | (9,541) | 1,327 | (1,387) | 73 | 4 | |||
| Net loss available to common stockholders, diluted: | (18,615) | (16,835) | (6,655) | (1,017) | (830) | (382) | (175) | |
Comprehensive Income ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (9,074) | (18,163) | (5,267) | (1,017) | (903) | (386) | (175) | |
| Comprehensive loss, net of tax, attributable to parent: | (9,074) | (18,163) | (5,267) | (1,017) | (903) | (386) | (175) | |
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.