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 investments3,612158 85786918
Cash and cash equivalents3,612158 85786918
Receivables7,7341,252983125   
Inventory, net of allowances, customer advances and progress billings1,038531476    
Inventory1,038531476    
Prepaid expense67928224845 14 
Derivative instruments and hedges, assets55      
Other undisclosed current assets   113   
Total current assets:13,1182,2231,707368788318
Noncurrent Assets
Operating lease, right-of-use asset779  
Property, plant and equipment30,6778,2259,308(19)   
Oil and gas property, successful effort method  9,2951,630   
Other undisclosed noncurrent assets5,515802(9,295)19300300181
Total noncurrent assets:36,9729,0279,3081,630300300181
TOTAL ASSETS:50,09011,25011,0151,997378383200
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:10,1744,6362,13046265238
Accounts payable4,3301,9381,026321   
Accrued liabilities5,8442,6981,104141   
Other undisclosed accounts payable and accrued liabilities    65238
Debt1801,30297279137  
Asset retirement obligation  5,480    
Other undisclosed current liabilities1,701136(5,468)    
Total current liabilities:12,0546,0732,238741202238
Noncurrent Liabilities
Long-term debt and lease obligation, including:6465347,715    
Long-term debt, excluding current maturities6,9147,7207,715    
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 liabilities27,55523,0846,0001,176   
Total noncurrent liabilities:28,20123,61813,7151,406   
Total liabilities:40,25529,69115,9532,147202238
Stockholders' equity
Stockholders' equity attributable to parent, including:9,834(18,441)(4,939)(150)128301191
Common stock79252017999
Common stock, share subscribed but unissued, subscriptions receivable    3(2) 
Additional paid in capital69,98822,15218,82416,96116,23215,57215,082
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)128301191
Other undisclosed liabilities and equity    4759 
TOTAL LIABILITIES AND EQUITY:50,09011,25011,0151,997378383200

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
Revenues27,9047,7285,859465 300 
Revenue, net 300 
Gain (loss) on disposition of assets for financial service operations(586)1,26934118
Gross profit:27,9047,7285,859465 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) 734 
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.

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