23 June 2021director interest notice● Neutral
Energy Evolution Master Fund, LTD. became a EMPIRE PETROLEUM CORP 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 June 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP 10%+ owner Phil E Mulacek bought 1,000 shares on the open market at $1.88.
1 June 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP Chief Executive Officer Thomas W. Pritchard exercised options for 300,000 shares and sold 300,000.
1 June 2021securities registration● Neutral
EMPIRE PETROLEUM CORP filed notice of an exempt private placement.
1 June 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP President Michael R. Morrisett exercised options for 300,000 shares and sold 300,000.
28 May 2021securities registration● Neutral
EMPIRE PETROLEUM CORP amended a filing by which it filed notice of an exempt private placement.
28 May 2021securities registration● Neutral
EMPIRE PETROLEUM CORP filed notice of an exempt private placement.
20 May 2021capital raising announcement▲ GoodMajor
Empire New Mexico borrowed $16.25 million from Energy Evolution Master Fund via a senior secured convertible note to fund the Eunice Monument acquisition from ExxonMobil subsidiary XTO Holdings (702 wells in Lea County, NM) - a larger financing than a prior pass's figure suggested, and the deal also gave Energy Evolution the right to name board members including a chairman with a tie-breaking vote, the start of what became a controlling relationship.
17 May 2021asset acquisition disposition▲ GoodMajor
Empire New Mexico closed the XTO/ExxonMobil Eunice Monument acquisition for an adjusted $16,089,000 (up from a scheduled April closing after a short extension) -- Empire's largest deal yet, adding 702 wells across roughly 40,600 net acres.
17 May 2021quarterly activities report▼ Bad
EMPIRE PETROLEUM CORP reported quarterly revenue of $2.1 million and a net loss of $997 thousand for the period ended 2021-03-31.
12 May 2021director interest notice● Neutral
Mason H. Matschke became a EMPIRE PETROLEUM CORP director and company insider (initial ownership filing).
4 May 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP director Tony Kamin exercised options for 100,000 shares.
3 May 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP director Tony Kamin exercised options for 100,000 shares.
30 Apr 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP director Tony Kamin exercised options for 100,000 shares.
27 Apr 2021auditor change▼ Bad
Empire dismissed HoganTaylor as auditor -- which had flagged a material weakness in internal controls as of December 2020 -- and engaged Moss Adams LLP.
12 Apr 2021substantial holder notice● Neutral
Phil E. Mulacek disclosed a new substantial EMPIRE PETROLEUM CORP shareholding (23.58% of votes).
5 Apr 2021director interest notice● Neutral
Phil E Mulacek became a EMPIRE PETROLEUM CORP 10%+ owner and company insider (initial ownership filing).
1 Apr 2021capital raising announcement▲ GoodMajor
Empire Petroleum raised $3.15 million (8.99 million shares plus warrants at $0.50) from 38 accredited investors, capital raised just weeks before it financed and closed its largest-ever acquisition, the Eunice Monument field.
1 Apr 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP director Tony Kamin bought 857,142 shares on the open market.
24 Mar 2021securities registration● Neutral
EMPIRE PETROLEUM CORP amended a filing by which it filed notice of an exempt private placement.
15 Mar 2021debt financing● NeutralMajor
The same day, CrossFirst Bank amended Empire's revolver a third time -- reaffirming the $20 million facility, redetermining the borrowing base to $8.52 million, waiving covenant breaches, and phasing in a stepped-down leverage covenant through 2022 -- laying financing groundwork alongside the pending New Mexico deal. The filing also references warrants issued to Petroleum Independent & Exploration LLC (PIE) under an August 2020 stock purchase.
15 Mar 2021material agreement▲ GoodMajor
Empire's largest deal to date: new subsidiary Empire New Mexico agreed to buy an ExxonMobil (XTO Holdings) package in the Eunice Monument field, Lea County -- 702 wells across about 47,200 gross acres -- for $17.8 million, wiring a $1.78 million deposit.
12 Mar 2021securities registration● Neutral
EMPIRE PETROLEUM CORP filed notice of an exempt private placement.
6 Jan 2021material agreement▲ Good
Empire Texas and Pardus Oil & Gas amended their 2020 purchase agreement, replacing the up-to-$2 million contingent payment with a fixed $40,000 payment -- a favorable resolution for Empire.
5 Jan 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP director Tony Kamin received a stock option grant for 300,000 shares.
5 Jan 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP Chief Executive Officer Thomas W. Pritchard received a stock option grant for 2,000,000 shares.
5 Jan 2021director interest notice● Neutral
EMPIRE PETROLEUM CORP President Michael R. Morrisett received a stock option grant for 2,000,000 shares.
16 Nov 2020quarterly activities report▼ Bad
EMPIRE PETROLEUM CORP reported quarterly revenue of $1.5 million and a net loss of $1.6 million for the period ended 2020-09-30.
6 Oct 2020debt default or forbearance▼ Bad
CrossFirst Bank's second amendment to Empire's revolver, backdated to 30 June 2020, waived the company's breach of the maximum leverage covenant and the quarterly commitment-reduction payment then due, while raising the revolver commitment to $8.7 million (funding a new $300,000 letter of credit) and increasing that quarterly reduction to $180,000 from 30 September.
20 Aug 2020securities registration● Neutral
EMPIRE PETROLEUM CORP filed notice of an exempt private placement.