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 replaced its CrossFirst credit facility with a new Equity Bank revolver (initial $10 million commitment, up to $15 million, maturing December 2026). A $4.4 million initial advance repaid and terminated all CrossFirst debt, ending the 2018 facility early.
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 said on November 13, 2023 that it had issued a press release announcing its third quarter 2023 financial and operating results.
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
Phil Mulacek and Energy Evolution Master Fund each lent $5.0 million in bridge loans to Empire North Dakota on September 19, 2023. On October 31, 2023 they extended the maturity from October 31 to November 9, 2023.
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 said on August 15, 2023 that it had issued a press release announcing its second quarter 2023 financial and operating results.
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.