$EP
EMPIRE PETROLEUM CORP Stock $ep

$ep Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000107261323000436 Filed on August 14, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2022 Q4
Revenue	$9.146M	$9.710M	$8.508M
YoY Change	-38.17%	-41.29%	-22.58%
Cost Of Revenue	$7.842M	$7.820M	$5.176M
YoY Change	-18.46%	17.75%	-31.93%
Gross Profit	$1.304M	$1.890M	$3.332M
YoY Change	-74.8%	-80.91%	-1.6%
Gross Profit Margin	14.26%	19.46%	39.17%
Selling, General & Admin	$2.739M	$2.715M	$3.744M
YoY Change	-3.89%	-17.29%	54.59%
% of Gross Profit	210.1%	143.66%	112.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$51.00K	$54.00K	$519.4K
YoY Change	-90.55%	-88.15%	8.92%
% of Gross Profit	3.91%	2.86%	15.59%
Operating Expenses	$11.78M	$12.01M	$4.612M
YoY Change	-11.76%	12.09%	42.72%
Operating Profit	-$2.634M	-$2.302M	-$1.279M
YoY Change	-282.64%	-139.52%	-923.33%
Interest Expense	-$249.8K	-$184.9K	-$161.8K
YoY Change	99.31%	65.39%	-97.22%
% of Operating Profit
Other Income/Expense, Net	-$249.8K	-$184.9K	$297.2K
YoY Change	99.31%	65.4%	-110.07%
Pretax Income	-$2.882M	-$2.465M	-$2.081M
YoY Change	-1434.79%	-144.54%	-75.86%
Income Tax	-$134.7K		$208.9K
% Of Pretax Income
Net Earnings	-$2.748M	-$2.465M	-$2.290M
YoY Change	-1372.4%	-144.54%	-73.44%
Net Earnings / Revenue	-30.04%	-25.38%	-26.91%
Basic Earnings Per Share	-$0.12	-$0.11
Diluted Earnings Per Share	-$0.12	-$0.11	-$0.10
COMMON SHARES
Basic Shares Outstanding	22.72M shares	22.10M shares	22.10M shares
Diluted Shares Outstanding	22.73M shares	22.11M shares

Balance Sheet

Concept	2023 Q3	2023 Q2	2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$11.03M	$1.295M	$11.94M
YoY Change	-29.87%	-89.59%	230.7%
Cash & Equivalents	$11.03M	$1.295M	$11.94M
Short-Term Investments
Other Short-Term Assets	$591.7K	$1.491M	$1.170M
YoY Change	-44.86%	104.09%	59.32%
Inventory	$1.565M	$1.538M	$1.840M
Prepaid Expenses	$591.7K	$1.465M	$1.048M
Receivables	$7.226M	$7.693M	$7.780M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$20.42M	$12.02M	$22.73M
YoY Change	-16.3%	-48.21%	73.31%
LONG-TERM ASSETS
Property, Plant & Equipment	$54.47M	$50.18M	$45.31M
YoY Change	51.75%	49.57%	47.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$1.375M	$746.9K	$3.499M
YoY Change	-76.9%	-89.82%	-44.41%
Total Long-Term Assets	$55.85M	$50.92M	$48.81M
YoY Change	33.46%	24.55%	32.02%
TOTAL ASSETS
Total Short-Term Assets	$20.42M	$12.02M	$22.73M
Total Long-Term Assets	$55.85M	$50.92M	$48.81M
Total Assets	$76.27M	$62.94M	$71.55M
YoY Change	15.13%	-1.8%	42.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$6.051M	$4.159M	$5.843M
YoY Change	43.16%	25.07%	34.97%
Accrued Expenses	$5.726M	$5.816M	$9.461M
YoY Change	-21.83%	-22.8%	61.89%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$4.550M	$2.316M	$4.063M
YoY Change	-30.79%	64.7%	116.03%
Total Short-Term Liabilities	$18.87M	$12.60M	$17.62M
YoY Change	44.43%	1.02%	46.18%
LONG-TERM LIABILITIES
Long-Term Debt	$10.12M	$4.055M	$5.140M
YoY Change	53.89%	-40.43%	-32.01%
Other Long-Term Liabilities	$28.46M	$27.97M	$25.55M
YoY Change	27.4%	27.3%	23.78%
Total Long-Term Liabilities	$38.57M	$32.02M	$30.69M
YoY Change	33.43%	11.28%	8.82%
TOTAL LIABILITIES
Total Short-Term Liabilities	$18.87M	$12.60M	$17.62M
Total Long-Term Liabilities	$38.57M	$32.02M	$30.69M
Total Liabilities	$57.44M	$44.62M	$48.31M
YoY Change	36.85%	8.18%	20.01%
SHAREHOLDERS EQUITY
Retained Earnings	-$59.82M	-$57.07M	-$52.15M
YoY Change	19.98%	13.98%	-11.96%
Common Stock	$82.41K	$81.65K	$81.62K
YoY Change	1.06%	0.66%	2.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$18.83M	$18.32M	$23.24M
YoY Change
Total Liabilities & Shareholders Equity	$76.27M	$62.94M	$71.55M
YoY Change	15.13%	-1.8%	42.83%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2022 Q4
OPERATING ACTIVITIES
Net Income	-$2.748M	-$2.465M	-$2.290M
YoY Change	-1372.4%	-144.54%	-73.44%
Depreciation, Depletion And Amortization	$51.00K	$54.00K	$519.4K
YoY Change	-90.55%	-88.15%	8.92%
Cash From Operating Activities	$2.027M	-$2.918M	$3.149M
YoY Change	-47.52%	-136.55%	23.97%
INVESTING ACTIVITIES
Capital Expenditures	$2.100M	$1.714M	$9.160M
YoY Change	-551.41%	-154.98%	-759.97%
Acquisitions
YoY Change
Other Investing Activities	-$223.6K	-$117.6K	$2.537M
YoY Change	408.2%	-43.59%	-508.85%
Cash From Investing Activities	-$4.143M	-$1.831M	-$6.623M
YoY Change	713.65%	-44.93%	229.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	11.86M	-719.8K	-315.5K
YoY Change	-21061.4%	-129.69%	194.82%
NET CHANGE
Cash From Operating Activities	2.027M	-2.918M	3.149M
Cash From Investing Activities	-4.143M	-1.831M	-6.623M
Cash From Financing Activities	11.86M	-719.8K	-315.5K
Net Change In Cash	9.740M	-5.469M	-3.789M
YoY Change	195.39%	-177.21%	-992.97%
FREE CASH FLOW
Cash From Operating Activities	$2.027M	-$2.918M	$3.149M
Capital Expenditures	$2.100M	$1.714M	$9.160M
Free Cash Flow	-$72.60K	-$4.632M	-$6.011M
YoY Change	-101.68%	-141.73%	-253.04%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Central Index Key EntityCentralIndexKey	0000887396
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
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CY2023Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q2	us-gaap	Preferred Stock Value PreferredStockValue		usd
CY2022Q4	us-gaap	Preferred Stock Value PreferredStockValue		usd
CY2022Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
CY2023Q2	empr	Capitalized Costs Work In Process CapitalizedCostsWorkInProcess		usd
CY2023Q2	empr	Receivable From Former Ceo ReceivableFromFormerCEO		usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour		usd
CY2022Q2	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense		usd
	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense		usd
CY2023Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
CY2022Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2023-06-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity Registrant Name EntityRegistrantName	EMPIRE PETROLEUM CORPORATION
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity File Number EntityFileNumber	001-16653
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	73-1238709
	dei	Entity Address Address Line1 EntityAddressAddressLine1	2200 S. Utica Place
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 150
	dei	Entity Address City Or Town EntityAddressCityOrTown	Tulsa
	dei	Entity Address State Or Province EntityAddressStateOrProvince	OK
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	74114
	dei	City Area Code CityAreaCode	539
	dei	Local Phone Number LocalPhoneNumber	444-8002
	dei	Security12b Title Security12bTitle	Common Stock $.001 par value
	dei	Trading Symbol TradingSymbol	EP
	dei	Security Exchange Name SecurityExchangeName	NYSEAMER
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2023Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	22723780	shares
CY2023Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1294850	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	11944442	usd
CY2023Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	7693297	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	7780239	usd
CY2023Q2	us-gaap	Derivative Instruments And Hedges DerivativeInstrumentsAndHedges	26511	usd
CY2022Q4	us-gaap	Derivative Instruments And Hedges DerivativeInstrumentsAndHedges	121584	usd
CY2023Q2	us-gaap	Inventory Net InventoryNet	1538429	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	1840274	usd
CY2023Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1464599	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1048434	usd
CY2023Q2	us-gaap	Assets Current AssetsCurrent	12017686	usd
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CY2023Q2	us-gaap	Other Oil And Gas Property Successful Effort Method OtherOilAndGasPropertySuccessfulEffortMethod	69985772	usd
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CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
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CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
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CY2023Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	6	shares
CY2023Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	6	shares
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	6	shares
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	6	shares
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	empr	Gas Sales GasSales	2205798	usd
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	empr	Natural Gas Liquids Sales NaturalGasLiquidsSales	867135	usd
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	us-gaap	Revenues Revenues	19762427	usd
	us-gaap	Revenues Revenues	28120958	usd
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	us-gaap	Operating Expenses OperatingExpenses	24286647	usd
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CY2023Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-2301506	usd
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	us-gaap	Operating Income Loss OperatingIncomeLoss	-4524220	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	9558012	usd
CY2023Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-184887	usd
CY2022Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-111785	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-422186	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-222433	usd
CY2023Q2	empr	Other Income Expense OtherIncomeExpense	-21484	usd
CY2022Q2	empr	Other Income Expense OtherIncomeExpense	177872	usd
	empr	Other Income Expense OtherIncomeExpense	-21906	usd
	empr	Other Income Expense OtherIncomeExpense	177872	usd
CY2023Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-2464909	usd
CY2022Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	5534280	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-4924500	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	9157707	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-2464909	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	5534280	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4924500	usd
	us-gaap	Net Income Loss NetIncomeLoss	9157707	usd
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.11
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.27
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.22
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.45
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.11
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.24
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.22
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.41
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	22105704	shares
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20424970	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	22101264	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20145955	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22105704	shares
CY2022Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23294723	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22101264	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22233826	shares
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	23235881	usd
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-2459591	usd
CY2023Q1	empr	Impact Of Former Ceo Settlement ImpactOfFormerCeoSettlement	-2126131	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	949639	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	19599798	usd
CY2023Q2	us-gaap	Profit Loss ProfitLoss	-2464909	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	1180806	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	18315695	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	9834153	usd
CY2022Q1	us-gaap	Profit Loss ProfitLoss	3623427	usd
CY2022Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	6	usd
CY2022Q1	empr	Warrants Exercised Value WarrantsExercisedValue	97500	usd
CY2022Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	376278	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	13931364	usd
CY2022Q2	us-gaap	Profit Loss ProfitLoss	5534280	usd
CY2022Q2	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	2887183	usd
CY2022Q2	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	486904	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	22839731	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4924500	usd
	us-gaap	Net Income Loss NetIncomeLoss	9157707	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	2130445	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	863187	usd
	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	163785	usd
	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	90607	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	1333531	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	890245	usd
	us-gaap	Accretion Expense Including Asset Retirement Obligations AccretionExpenseIncludingAssetRetirementObligations	806636	usd
	us-gaap	Accretion Expense Including Asset Retirement Obligations AccretionExpenseIncludingAssetRetirementObligations	666488	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-133480	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-136214	usd
	empr	Settlement On Or Purchases Of Derivative Instruments SettlementOnOrPurchasesOfDerivativeInstruments	41187	usd
	empr	Settlement On Or Purchases Of Derivative Instruments SettlementOnOrPurchasesOfDerivativeInstruments	160891	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	2039189	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1113084	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	265802	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	154709	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-708549	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-139596	usd
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	650134	usd
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	156211	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-1697939	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-1004576	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-3642305	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1689515	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-7984630	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	11044088	usd
	us-gaap	Payments To Acquire Oil And Gas Property PaymentsToAcquireOilAndGasProperty	-0	usd
	us-gaap	Payments To Acquire Oil And Gas Property PaymentsToAcquireOilAndGasProperty	2205000	usd
	empr	Deposit For Acquistion Of Oil And Natural Gas Properties DepositForAcquistionOfOilAndNaturalGasProperties	670000	usd
	empr	Deposit For Acquistion Of Oil And Natural Gas Properties DepositForAcquistionOfOilAndNaturalGasProperties	-0	usd
	empr	Additions To Oil And Natural Gas Properties AdditionsToOilAndNaturalGasProperties	3127847	usd
	empr	Additions To Oil And Natural Gas Properties AdditionsToOilAndNaturalGasProperties	1226876	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	153036	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	118608	usd
	empr	Cash Paid For Right Of Use Assets CashPaidForRightOfUseAssets	204105	usd
	empr	Cash Paid For Right Of Use Assets CashPaidForRightOfUseAssets	91235	usd
	empr	Sinking Fund Deposit SinkingFundDeposit	-2779000	usd
	empr	Sinking Fund Deposit SinkingFundDeposit	640000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1375988	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-4281719	usd
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1288974	usd
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	922388	usd
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	0	usd
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	2984683	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1288974	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	2062295	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-10649592	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	8824664	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	11944442	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3611871	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1294850	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	12436535	usd
	us-gaap	Interest Paid Net InterestPaidNet	272471	usd
	us-gaap	Interest Paid Net InterestPaidNet	180404	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zrvT7SG0mQt5" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><b><span id="xdx_869_z1JDwAO9YHCh">Concentrations of Credit Risk</span></b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-size: 10pt">The Company’s accounts receivable are primarily receivables from oil and natural gas purchasers and joint interest owners. The purchasers of the Company’s oil and natural gas production consist primarily of independent marketers, major oil and natural gas companies and gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts from its oil and natural gas purchasers. The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payments for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. Joint operating agreements govern the operations of an oil or natural gas well and, in most instances, provide for offsetting of amounts payable or receivable between the Company and its joint interest owners. The Company’s joint interest partners consist primarily of independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the Company’s joint interest partners to reimburse the Company could be adversely affected.</span><span style="font-size: 4pt"> </span></p>
CY2023Q2	us-gaap	Deposit Assets DepositAssets	670000	usd
CY2023Q2	us-gaap	Capitalized Costs Proved Properties CapitalizedCostsProvedProperties	67020351	usd
CY2022Q4	us-gaap	Capitalized Costs Proved Properties CapitalizedCostsProvedProperties	52831131	usd
CY2023Q2	us-gaap	Capitalized Costs Unproved Properties CapitalizedCostsUnprovedProperties	2965421	usd
CY2022Q4	us-gaap	Capitalized Costs Unproved Properties CapitalizedCostsUnprovedProperties	2865556	usd
CY2022Q4	empr	Capitalized Costs Work In Process CapitalizedCostsWorkInProcess	8289652	usd
CY2023Q2	us-gaap	Capitalized Costs Oil And Gas Producing Activities Gross CapitalizedCostsOilAndGasProducingActivitiesGross	69985772	usd
CY2022Q4	us-gaap	Capitalized Costs Oil And Gas Producing Activities Gross CapitalizedCostsOilAndGasProducingActivitiesGross	63986339	usd
CY2023Q2	us-gaap	Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities	21336969	usd
CY2022Q4	us-gaap	Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities	20116696	usd
CY2023Q2	us-gaap	Capitalized Costs Oil And Gas Producing Activities Net CapitalizedCostsOilAndGasProducingActivitiesNet	48648803	usd
CY2022Q4	us-gaap	Capitalized Costs Oil And Gas Producing Activities Net CapitalizedCostsOilAndGasProducingActivitiesNet	43869643	usd
CY2023Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	657000	usd
CY2022Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	430000	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	1221000	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	830000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	2312404	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	1878325	usd
CY2023Q2	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	785846	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	436796	usd
CY2023Q2	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	1526558	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	1441529	usd
CY2023Q2	us-gaap	Depreciation Depreciation	54000	usd
CY2022Q2	us-gaap	Depreciation Depreciation	26000	usd
	us-gaap	Depreciation Depreciation	113000	usd
	us-gaap	Depreciation Depreciation	59000	usd
CY2022Q4	us-gaap	Asset Retirement Obligation AssetRetirementObligation	25000740	usd
CY2021Q4	us-gaap	Asset Retirement Obligation AssetRetirementObligation	20640599	usd
	empr	Asset Retirement Obligation Addition Of Estimate AssetRetirementObligationAdditionOfEstimate	0	usd
	empr	Asset Retirement Obligation Addition Of Estimate AssetRetirementObligationAdditionOfEstimate	233659	usd
	us-gaap	Asset Retirement Obligation Liabilities Settled AssetRetirementObligationLiabilitiesSettled	656249	usd
	us-gaap	Asset Retirement Obligation Liabilities Settled AssetRetirementObligationLiabilitiesSettled	160958	usd
	us-gaap	Asset Retirement Obligation Revision Of Estimate AssetRetirementObligationRevisionOfEstimate	2303939	usd
	us-gaap	Asset Retirement Obligation Revision Of Estimate AssetRetirementObligationRevisionOfEstimate	0	usd
	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	806636	usd
	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	666488	usd
CY2023Q2	us-gaap	Asset Retirement Obligation AssetRetirementObligation	27455066	usd
CY2022Q2	us-gaap	Asset Retirement Obligation AssetRetirementObligation	21379788	usd
CY2023Q2	us-gaap	Oil And Gas Joint Interest Billing Receivables OilAndGasJointInterestBillingReceivables	4577420	usd
CY2022Q4	us-gaap	Oil And Gas Joint Interest Billing Receivables OilAndGasJointInterestBillingReceivables	2057719	usd
CY2022Q4	empr	Receivable From Former Ceo ReceivableFromFormerCEO	2130614	usd
CY2023Q2	us-gaap	Other Receivables OtherReceivables	104366	usd
CY2023Q2	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-66657	usd
CY2022Q2	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-23893	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-133480	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-136214	usd
CY2023Q2	empr	Oil And Gas Receivables OilAndGasReceivables	3011511	usd
CY2022Q4	empr	Oil And Gas Receivables OilAndGasReceivables	3060341	usd
CY2022Q4	us-gaap	Other Receivables OtherReceivables	531565	usd
CY2023Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	7693297	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	7780239	usd
CY2023Q2	empr	Accrued And Suspended Thirdparty Revenue Current AccruedAndSuspendedThirdpartyRevenueCurrent	4000021	usd
CY2022Q4	empr	Accrued And Suspended Thirdparty Revenue Current AccruedAndSuspendedThirdpartyRevenueCurrent	4415311	usd
CY2023Q2	empr	Accrued Salaries And Payroll Taxes AccruedSalariesAndPayrollTaxes	623619	usd
CY2022Q4	empr	Accrued Salaries And Payroll Taxes AccruedSalariesAndPayrollTaxes	3299785	usd
CY2023Q2	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	725996	usd
CY2022Q4	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	500481	usd
CY2023Q2	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	226898	usd
CY2022Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	208898	usd
CY2023Q2	us-gaap	Taxes Payable Current TaxesPayableCurrent	239393	usd
CY2022Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	1036535	usd
CY2023Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	5815927	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	9461010	usd
CY2023Q2	us-gaap	Debt Current DebtCurrent	6370320	usd
CY2022Q4	us-gaap	Debt Current DebtCurrent	7199411	usd
CY2023Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	2315816	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	2059309	usd
CY2023Q2	us-gaap	Notes Payable Current NotesPayableCurrent	1060004	usd
CY2022Q4	us-gaap	Notes Payable Current NotesPayableCurrent	1076987	usd
CY2023Q2	us-gaap	Long Term Debt LongTermDebt	2994500	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	4063115	usd
	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	164000	usd
	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	122000	usd
	empr	Cash Paid For Right Of Use Leases CashPaidForRightOfUseLeases	164000	usd
	empr	Cash Paid For Right Of Use Leases CashPaidForRightOfUseLeases	122000	usd
CY2023Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	845351	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	776219	usd
CY2023Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	310422	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	256975	usd
CY2023Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	513853	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	547692	usd
CY2023Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	824275	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	804667	usd
CY2023Q2	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y7M6D
CY2023Q2	us-gaap	Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear	365068	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	338259	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	180747	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	31000	usd
CY2023Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	915074	usd
CY2023Q2	empr	Less Imputed Interest LessImputedInterest	-90799	usd
CY2023Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	824275	usd
CY2023Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	190000000	shares
CY2023Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
	us-gaap	Preferred Stock Voting Rights PreferredStockVotingRights	the voting rights of the Series A Voting Preferred Stock are contingent upon the Initial Holder and Permitted Transferees (collectively, the “Series A Holders”) holding together at least 3,000,000 shares of the Company’s outstanding common stock.
	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-1034145	usd
	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0	pure
CY2023Q2	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-517631	usd
CY2023Q2	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2022Q2	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	1162199	usd
CY2022Q2	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	1923118	usd
	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2023Q2	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-118589	usd
CY2023Q2	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.048	pure
CY2022Q2	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	268413	usd
CY2022Q2	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.049	pure
	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-236923	usd
	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.048	pure
	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	444149	usd
	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.049	pure
CY2023Q2	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense	1972	usd
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CY2023Q2	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	634248	usd
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Files In Submission

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0001072613-23-000436-index.html	Edgar Link	pending
0001072613-23-000436.txt	Edgar Link	pending
0001072613-23-000436-xbrl.zip	Edgar Link	pending
empire_form10q063023.htm	Edgar Link	pending
empr-20230630.xsd	Edgar Link	pending
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exh31-2_18742.htm	Edgar Link	pending
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exh32-2_18742.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
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report.css	Edgar Link	pending
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$EP
EMPIRE PETROLEUM CORP Stock $ep

2023 Q3 Form 10-Q Financial Statement

#000107261323000436 Filed on August 14, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EP EMPIRE PETROLEUM CORP Stock $ep

2023 Q3 Form 10-Q Financial Statement

#000107261323000436 Filed on August 14, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EP
EMPIRE PETROLEUM CORP Stock $ep