We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Empire Petroleum Corporation | AMEX:EP | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.23 | 0 | 09:09:40 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM
_________________
Current Report
Pursuant To Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
_______________________________
(Exact name of registrant as specified in its charter)
_______________________________
(State or Other Jurisdiction | (Commission | (I.R.S. Employer |
of Incorporation) | File Number) | Identification No.) |
(Address of Principal Executive Offices) (Zip Code)
Registrant’s
telephone number, including area code: (
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock $.001 par value |
EP |
NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 | Regulation FD Disclosure. |
On October 11, 2023, Empire Petroleum Corporation (the “Company”) issued a press release announcing commencement of its 2023 drilling program with the recent spud of a new well at its North Dakota asset commonly referred to as the Starbuck field. A copy of the press release is being furnished and is attached as Exhibit 99 hereto and is incorporated into this Item 7.01 by reference. In accordance with General Instruction B.2 of Form 8-K of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the press release shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information and such exhibit be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. | |
The following exhibits are filed or furnished herewith. |
Exhibit Number
|
Description |
99 | Press Release of Empire Petroleum Corporation dated October 11, 2023.
|
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
EMPIRE PETROLEUM CORPORATION
|
|||
Date: October 12, 2023 | By: | /s/ Michael R. Morrisett | |
Michael R. Morrisett President and Chief Executive Officer |
3
EXHIBIT 99
EMPIRE PETROLEUM COMMENCES 2023 DEVELOPMENT PROGRAM
TULSA, Okla., October 11, 2023 -- (BUSINESS WIRE) -- Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today announced the formal commencement of its 2023 drilling program with the recent spud of a new well at its North Dakota asset (the “Starbuck” Field).
The Company’s capital development programs in 2023 and 2024 have been designed to ensure cost-effective production growth with a strong rate of return. By applying lessons learned from multiple testing methods during the pilot program at Starbuck in 2022, Empire formally moved to the initial phase of the Company’s overall development efforts with the Starbuck drilling program. A pilot drilling program on Empire’s New Mexico assets is expected to begin in 2024. For additional discussion of the Company’s development programs, financial performance and other corporate information, please see the Company’s second quarter of 2023 presentation located on Empire’s website under the “Investor Relations” section.
Additional specifics concerning the Starbuck drilling program include:
• | 10-14 drilled wells; |
• | Average lateral length per well of approximately 2,300 feet in Phase 1, with a 5,900-foot length in Phase 2; |
• | Average capital spend per well of $1.6-$1.8 million; and |
• | Total capital spending for the program of $20-$22 million. |
Mike Morrisett, President and Chief Executive Officer of Empire, said, “Yesterday, we spudded our first well in North Dakota marking the beginning of redevelopment plans aimed at unlocking significant opportunities across all of Empire Petroleum’s assets. Starbuck surface facilities are nearing completion and ready to bring additional production online in 2023 Q4. Our drilling and development programs are well-designed and focused on our highest potential rate-of-return assets as we focus on growing our core oil assets through enhanced oil & gas recovery methods to materially improve performance. We are clearly excited to begin our Starbuck drilling program and also move forward with the further development of our New Mexico assets in 2024 through a targeted pilot drilling program. We look forward to providing more specifics concerning the Starbuck drilling program and our development efforts in New Mexico over the coming months.”
Mr. Morrisett continued, “As important, we thank all of our employees and team members for their tireless work and dedication as we focus on responsibly growing the Company for the benefit of our shareholders.”
Phil Mulacek, Chairman of the Board at Empire, said, “My investment in Empire is based on my conviction in our management team’s ability to execute on our strategy to strategically develop the Company’s collective group of assets by focusing on the highest rate-of-return opportunities – meaning areas that have the strongest multiple for growth. As such, I am excited to formally embark on the Company’s targeted drilling program in North Dakota.”
About Empire Petroleum
Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana. Management is focused on organic growth and targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. More information about Empire can be found at www.empirepetroleumcorp.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s estimates, strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2022, and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and other risks and uncertainties related to the conduct of business by the Company. Other than as required by applicable securities laws, the Company does not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations, or otherwise.
Contacts
Empire
Petroleum Corporation:
Mike Morrisett, President and CEO
539-444-8002
info@empirepetrocorp.com
Investor
Relations:
Al Petrie Advisors
Wes Harris, Partner
281-740-1334
wes@alpetrie.com
Cover |
Oct. 11, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Oct. 11, 2023 |
Entity File Number | 001-16653 |
Entity Registrant Name | EMPIRE PETROLEUM CORPORATION |
Entity Central Index Key | 0000887396 |
Entity Tax Identification Number | 73-1238709 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 2200 S. Utica Place |
Entity Address, Address Line Two | Suite 150 |
Entity Address, City or Town | Tulsa |
Entity Address, State or Province | OK |
Entity Address, Postal Zip Code | 74114 |
City Area Code | 539 |
Local Phone Number | 444-8002 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
1 Year Empire Petroleum Chart |
1 Month Empire Petroleum Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions