Earnings ·
Empire Petroleum Corporation reported financial and operating results for the second quarter of 2026
EPEmpire Petroleum Corp
Empire Petroleum Corporation reported financial and operating results for the second quarter of 2026. The company generated total product revenue of $11.1 million and recorded a net loss of $1.9 million, or ($0.05) per diluted share, compared to a net loss of $5.1 million in the prior year period. Adjusted EBITDA improved to $0.4 million from a negative $1.2 million in Q2 2025. Net production averaged 1,825 barrels of oil equivalent per day (Boe/d), including 1,278 barrels of oil per day. Operational highlights include the expansion of drilling activity in Texas with the arrival of a new rig and successful deep-target evaluation reaching 21,006 feet. In North Dakota, the company completed a major retrofit for its thermal recovery program at the Starbuck Drilling Program. Additionally, Empire advanced its Louisiana development program through amended terms reflecting full involvement across a three-well program with a 25% working interest. The company also entered into an at-the-market offering agreement in May 2026 allowing for the sale of up to $7.5 million in common stock, though no shares have been issued under this facility as of the report date. Empire Petroleum Corporation is an oil and gas exploration and production company with assets in multiple U.S. states.