28 Mar 2024securities registration● Neutral
EMPIRE PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Mar 2024securities registration● Neutral
EMPIRE PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
21 Feb 2024capital raising announcement● NeutralMajor
Energy Evolution advanced Empire Petroleum a new $5 million note (7%/9% interest, convertible at $6.25/share) to fund its ongoing drilling program, $2.5 million drawn immediately with the rest available over the following months.
5 Jan 2024debt financing▲ GoodMajor
Empire refinanced its core credit facility entirely: a new $10-15 million revolver with Equity Bank (maturing December 2026) replaced the original 2018 CrossFirst facility, with an initial $4.4 million advance used to pay off and terminate all CrossFirst debt -- ending Empire's six-year lending relationship with CrossFirst.
2 Jan 2024director interest notice● Neutral
EMPIRE PETROLEUM CORP director Benjamin J. Marchive II bought 2,000 shares on the open market at $10.98.
1 Dec 2023material agreement● Neutral
A technical correction to insider Phil Mulacek's late-November $5 million stock purchase: the per-share price was adjusted from $8.00 to $8.21, reducing his share count from 625,000 to 609,013.
1 Dec 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Phil E Mulacek acquired 1,240,845 shares at $8.11 under a company stock plan.
1 Dec 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP 10%+ owner Energy Evolution Master Fund, LTD. bought 1,256,832 shares on the open market at $8.00.
29 Nov 2023capital raising announcement▲ GoodMajor
Mulacek and Energy Evolution each bought $10.05 million of Empire stock at $8.00/share - a combined $20.1 million - paid partly in cash and partly by cancelling the $5 million North Dakota bridge loan each had extended to fund the Starbuck field redevelopment, converting that insider debt into equity.
13 Nov 2023quarterly activities report▼ Bad
EMPIRE PETROLEUM CORP reported quarterly revenue of $9.1 million and a net loss of $2.7 million for the period ended 2023-09-30.
13 Nov 2023quarterly activities report▼ Bad
EMPIRE PETROLEUM CORP reported quarterly revenue of $9.1 million and a net loss of $2.7 million for the period ended 2023-09-30.
13 Nov 2023debt financing▲ GoodMajor
The North Dakota bridge loans were amended and restated: maturity pushed out over a year, to December 31, 2024, and interest switched from cash to stock payments -- meaningfully easing the near-term cash pressure from the redevelopment financing.
8 Nov 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director J Kevin Vann received 5,000 shares as part of the equity award.
1 Nov 2023debt financing● Neutral
The $10 million of bridge notes from Phil Mulacek and the Energy Evolution Master Fund, due 31 October 2023, were pushed out nine days to 9 November while longer-term funding was arranged; the company confirmed no default was outstanding.
12 Oct 2023drilling progress report▲ GoodMajor
Funded by the new bridge loans, Empire spudded a new well at its Starbuck field in North Dakota, kicking off its 2023 redevelopment drilling program.
25 Sept 2023debt financing● NeutralMajor
Insiders Phil Mulacek and Energy Evolution Master Fund each lent Empire North Dakota $5 million (a $10 million bridge loan total) to fund redevelopment of its North Dakota properties -- fast, expensive (7%, rising to 9% after maturity), insider-sourced capital, junior to the CrossFirst revolver and maturing in about six weeks.
13 Sept 2023securities registration● Neutral
EMPIRE PETROLEUM CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
1 Sept 2023securities registration● Neutral
EMPIRE PETROLEUM CORP registered a securities offering with the SEC using its shelf eligibility.
15 Aug 2023quarterly activities report▼ Bad
EMPIRE PETROLEUM CORP reported quarterly revenue of $9.7 million and a net loss of $2.5 million for the period ended 2023-06-30.
14 Aug 2023quarterly activities report▼ Bad
EMPIRE PETROLEUM CORP reported quarterly revenue of $9.7 million and a net loss of $2.5 million for the period ended 2023-06-30.
24 July 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP 10%+ owner Energy Evolution Master Fund, LTD. exercised options for 500,000 shares.
12 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Phil E Mulacek received 10,000 shares and a 40,000-share option grant as part of the equity award.
12 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Andrew Lloyd Lewis received 10,000 shares and a 40,000-share option grant as part of the equity award.
12 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director J Kevin Vann received 10,000 shares and a 40,000-share option grant as part of the equity award.
12 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Benjamin J. Marchive II received 10,000 shares and a 40,000-share option grant as part of the equity award.
12 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Mason H. Matschke received 10,000 shares and a 40,000-share option grant as part of the equity award.
8 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP Chief Financial Officer Stephen L Faulkner Jr. received 30,000 shares as part of the equity award.
1 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director J Kevin Vann bought 3,115 shares on the open market at $8.96.
1 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Mason H. Matschke bought 700 shares on the open market at $9.16.
1 June 2023director interest notice● Neutral
EMPIRE PETROLEUM CORP director Phil E Mulacek bought 25,530 shares on the open market.