EMPIRE PETROLEUM CORP
For the period ended Mar 31, 2025. Filed May 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
EP$2.44+21.4%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 (Unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
| March 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current Assets: | ||
| Cash | $1,081 | $2,251 |
| Accounts Receivable | 7,876 | 8,155 |
| Inventory | 1,504 | 1,305 |
| Prepaids | 1,106 | 640 |
| Total Current Assets | 11,567 | 12,351 |
| Property and Equipment: | ||
| Oil and Natural Gas Properties, Successful Efforts | 143,247 | 140,675 |
| Less: Accumulated Depletion, Amortization and Impairment | (34,106) | (31,974) |
| Total Oil and Gas Properties, Net | 109,141 | 108,701 |
| Other Property and Equipment, Net | 1,550 | 1,391 |
| Total Property and Equipment, Net | 110,691 | 110,092 |
| Other Noncurrent Assets | 1,425 | 1,425 |
| Total Assets | $123,683 | $123,868 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities: | ||
| Accounts Payable | $12,022 | $10,452 |
| Accrued Expenses | 10,947 | 10,348 |
| Current Portion of Lease Liability | 354 | 400 |
| Current Portion of Long-Term Debt | 691 | 70 |
| Total Current Liabilities | 24,014 | 21,270 |
| Long-Term Debt | 11,558 | 11,266 |
| Long-Term Lease Liability | 87 | 144 |
| Asset Retirement Obligations | 28,949 | 28,423 |
| Total Liabilities | 64,608 | 61,103 |
| Commitments and Contingencies (Note 14) | ||
| Stockholders' Equity: | ||
| Series A Preferred Stock - $0.001 Par Value, 10,000,000 Shares Authorized, 6 and 6 Shares Issued and Outstanding, Respectively | — | — |
| Common Stock - $0.001 Par Value 190,000,000 Shares Authorized, 33,710,727 and 33,667,132 Shares Issued and Outstanding, Respectively | 93 | 93 |
| Additional Paid-in-Capital | 144,020 | 143,489 |
| Accumulated Deficit | (85,038) | (80,817) |
| Total Stockholders' Equity | 59,075 | 62,765 |
| Total Liabilities and Stockholders' Equity | $123,683 | $123,868 |
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