$EP
EMPIRE PETROLEUM CORP Stock $ep

$ep Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 10-Q Financial Statement

#000107261323000570 Filed on November 13, 2023

Income Statement

Concept	2023 Q4	2023 Q3	2022 Q3
Revenue	$11.17M	$9.146M	$14.79M
YoY Change	31.26%	-38.17%	46.52%
Cost Of Revenue	$8.729M	$7.842M	$9.618M
YoY Change	68.65%	-18.46%	124.96%
Gross Profit	$2.439M	$1.304M	$5.174M
YoY Change	-26.82%	-74.8%	-11.1%
Gross Profit Margin	21.84%	14.26%	34.98%
Selling, General & Admin	$5.247M	$2.739M	$2.850M
YoY Change	40.15%	-3.89%	48.88%
% of Gross Profit	215.14%	210.1%	55.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$1.035M	$51.00K	$539.5K
YoY Change	99.28%	-90.55%	-57.83%
% of Gross Profit	42.44%	3.91%	10.43%
Operating Expenses	$6.761M	$11.78M	$13.35M
YoY Change	46.6%	-11.76%	279.17%
Operating Profit	-$4.322M	-$2.634M	$1.442M
YoY Change	237.82%	-282.64%	-37.28%
Interest Expense	-$328.5K	-$249.8K	-$125.3K
YoY Change	103.02%	99.31%	-96.68%
% of Operating Profit			-8.69%
Other Income/Expense, Net	$470.00	-$249.8K	-$125.3K
YoY Change	-99.84%	99.31%	-522.13%
Pretax Income	-$4.795M	-$2.882M	$215.9K
YoY Change	130.46%	-1434.79%	-105.8%
Income Tax	$2.530K	-$134.7K
% Of Pretax Income
Net Earnings	-$4.797M	-$2.748M	$215.9K
YoY Change	109.54%	-1372.4%	-105.8%
Net Earnings / Revenue	-42.96%	-30.04%	1.46%
Basic Earnings Per Share		-$0.12	$0.01
Diluted Earnings Per Share	-$0.20	-$0.12	$0.01
COMMON SHARES
Basic Shares Outstanding	22.89M shares	22.72M shares	21.69M shares
Diluted Shares Outstanding		22.73M shares	24.07M shares

Balance Sheet

Concept	2023 Q4	2023 Q3	2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$7.793M	$11.03M	$15.73M
YoY Change	-34.76%	-29.87%	393.61%
Cash & Equivalents	$7.793M	$11.03M	$15.73M
Short-Term Investments
Other Short-Term Assets	$1.164M	$591.7K	$1.073M
YoY Change	-0.49%	-44.86%	416.46%
Inventory	$1.433M	$1.565M	$1.605M
Prepaid Expenses	$757.5K	$591.7K	$724.5K
Receivables	$8.355M	$7.226M	$5.982M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$18.74M	$20.42M	$24.39M
YoY Change	-17.55%	-16.3%	107.71%
LONG-TERM ASSETS
Property, Plant & Equipment	$72.40M	$54.47M	$35.90M
YoY Change	59.78%	51.75%	21.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$1.475M	$1.375M	$5.951M
YoY Change	-57.86%	-76.9%	11.18%
Total Long-Term Assets	$73.87M	$55.85M	$41.85M
YoY Change	51.34%	33.46%	19.92%
TOTAL ASSETS
Total Short-Term Assets	$18.74M	$20.42M	$24.39M
Total Long-Term Assets	$73.87M	$55.85M	$41.85M
Total Assets	$92.62M	$76.27M	$66.24M
YoY Change	29.45%	15.13%	42.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$16.44M	$6.051M	$4.227M
YoY Change	181.3%	43.16%	-0.88%
Accrued Expenses	$7.075M	$5.726M	$7.325M
YoY Change	-25.22%	-21.83%	66.47%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$44.23K	$4.550M	$6.574M
YoY Change	-98.91%	-30.79%	424.63%
Total Short-Term Liabilities	$25.05M	$18.87M	$13.06M
YoY Change	42.16%	44.43%	31.7%
LONG-TERM LIABILITIES
Long-Term Debt	$4.597M	$10.12M	$6.574M
YoY Change	-10.57%	53.89%	-30.66%
Other Long-Term Liabilities	$28.01M	$28.46M	$22.34M
YoY Change	9.65%	27.4%	-5.01%
Total Long-Term Liabilities	$32.61M	$38.57M	$28.91M
YoY Change	6.26%	33.43%	-12.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$25.05M	$18.87M	$13.06M
Total Long-Term Liabilities	$32.61M	$38.57M	$28.91M
Total Liabilities	$57.66M	$57.44M	$41.97M
YoY Change	19.35%	36.85%	-2.19%
SHAREHOLDERS EQUITY
Retained Earnings	-$64.62M	-$59.82M	-$49.86M
YoY Change	23.91%	19.98%
Common Stock	$85.03K	$82.41K	$81.55K
YoY Change	4.18%	1.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$34.96M	$18.83M	$24.27M
YoY Change
Total Liabilities & Shareholders Equity	$92.62M	$76.27M	$66.24M
YoY Change	29.45%	15.13%	42.02%

Cashflow Statement

Concept	2023 Q4	2023 Q3	2022 Q3
OPERATING ACTIVITIES
Net Income	-$4.797M	-$2.748M	$215.9K
YoY Change	109.54%	-1372.4%	-105.8%
Depreciation, Depletion And Amortization	$1.035M	$51.00K	$539.5K
YoY Change	99.28%	-90.55%	-57.83%
Cash From Operating Activities	-$3.930M	$2.027M	$3.863M
YoY Change	-224.83%	-47.52%	22.96%
INVESTING ACTIVITIES
Capital Expenditures	$9.124M	$2.100M	-$465.2K
YoY Change	-0.4%	-551.41%	9.52%
Acquisitions
YoY Change
Other Investing Activities	-$124.5K	-$223.6K	-$44.00K
YoY Change	-104.91%	408.2%	-105.71%
Cash From Investing Activities	-$9.248M	-$4.143M	-$509.2K
YoY Change	39.65%	713.65%	-247.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	9.936M	11.86M	-56.56K
YoY Change	-3249.72%	-21061.4%	-95.7%
NET CHANGE
Cash From Operating Activities	-3.930M	2.027M	3.863M
Cash From Investing Activities	-9.248M	-4.143M	-509.2K
Cash From Financing Activities	9.936M	11.86M	-56.56K
Net Change In Cash	-3.242M	9.740M	3.297M
YoY Change	-14.44%	195.39%	51.91%
FREE CASH FLOW
Cash From Operating Activities	-$3.930M	$2.027M	$3.863M
Capital Expenditures	$9.124M	$2.100M	-$465.2K
Free Cash Flow	-$13.05M	-$72.60K	$4.328M
YoY Change	117.16%	-101.68%	21.36%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Central Index Key EntityCentralIndexKey	0000887396
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	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.017	pure
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	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2023-09-30
	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 Interactive Data Current EntityInteractiveDataCurrent	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
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CY2022Q3	us-gaap	Operating Expenses OperatingExpenses	12596222	usd
	us-gaap	Operating Expenses OperatingExpenses	36066646	usd
	us-gaap	Operating Expenses OperatingExpenses	31159168	usd
CY2023Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-2633902	usd
CY2022Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	1442159	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-7158122	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	11000171	usd
CY2023Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-249796	usd
CY2022Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-125330	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-671982	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-347763	usd
CY2023Q3	empr	Other Income Expense OtherIncomeExpense	1350	usd
CY2022Q3	empr	Other Income Expense OtherIncomeExpense	-1100888	usd
	empr	Other Income Expense OtherIncomeExpense	23256	usd
	empr	Other Income Expense OtherIncomeExpense	-1278760	usd
CY2023Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-2882348	usd
CY2022Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	215941	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-7806848	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	9373648	usd
CY2023Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-134720	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-134720	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-2747628	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	215941	usd
	us-gaap	Net Income Loss NetIncomeLoss	-7672128	usd
	us-gaap	Net Income Loss NetIncomeLoss	9373648	usd
CY2023Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.12
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.01
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.34
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.45
CY2023Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.12
CY2022Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.01
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.34
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.41
CY2023Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	22727639	shares
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	21651383	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	22320207	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20654294	shares
CY2023Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22727639	shares
CY2022Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	24065485	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22320207	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22778836	shares
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	23235881	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-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	Net Income Loss NetIncomeLoss	-2464909	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	1180806	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	18315695	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-2747628	usd
CY2023Q3	empr	Warrants Exercised Value WarrantsExercisedValue	2500000	usd
CY2023Q3	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	601057	usd
CY2023Q3	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	158792	usd
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	18827916	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	9834153	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	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	Net Income Loss NetIncomeLoss	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
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	215941	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	405220	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	809641	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	24270533	usd
	us-gaap	Profit Loss ProfitLoss	-7672128	usd
	us-gaap	Profit Loss ProfitLoss	9373648	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	2289237	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	1672823	usd
	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	287956	usd
	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	135234	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	2061474	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	1429788	usd
	us-gaap	Accretion Expense Including Asset Retirement Obligations AccretionExpenseIncludingAssetRetirementObligations	1277141	usd
	us-gaap	Accretion Expense Including Asset Retirement Obligations AccretionExpenseIncludingAssetRetirementObligations	1009107	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-1319401	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-93740	usd
	empr	Settlement On Or Purchases Of Derivative Instruments SettlementOnOrPurchasesOfDerivativeInstruments	-87042	usd
	empr	Settlement On Or Purchases Of Derivative Instruments SettlementOnOrPurchasesOfDerivativeInstruments	-244805	usd
	empr	Loss On Xto Final Settlement LossOnXtoFinalSettlement	1448363	usd
	empr	Pierelated Expense PierelatedExpense	-1399030	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1572038	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-304009	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	292057	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	567477	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-911416	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	45362	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	194438	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-2464573	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-3732113	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1480826	usd
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	942916	usd
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	117185	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5957231	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	14907166	usd
	us-gaap	Payments To Acquire Oil And Gas Property PaymentsToAcquireOilAndGasProperty	2094419	usd
	us-gaap	Payments To Acquire Oil And Gas Property PaymentsToAcquireOilAndGasProperty	2205000	usd
	empr	Additions To Oil And Natural Gas Properties AdditionsToOilAndNaturalGasProperties	5596535	usd
	empr	Additions To Oil And Natural Gas Properties AdditionsToOilAndNaturalGasProperties	1502900	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	179514	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	307787	usd
	empr	Cash Paid For Right Of Use Assets CashPaidForRightOfUseAssets	427711	usd
	empr	Cash Paid For Right Of Use Assets CashPaidForRightOfUseAssets	135244	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	-5519179	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-4790931	usd
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1933198	usd
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1384167	usd
	empr	Proceeds From Bridge Loans From Related Parties ProceedsFromBridgeLoansFromRelatedParties	10000000	usd
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	2500000	usd
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	3389903	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	10566802	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	2005736	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-909608	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	12121971	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	11944442	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	3611871	usd
CY2023Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	11034834	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	15733842	usd
	us-gaap	Interest Paid Net InterestPaidNet	398033	usd
	us-gaap	Interest Paid Net InterestPaidNet	292022	usd
CY2023Q3	us-gaap	Capitalized Costs Unproved Properties CapitalizedCostsUnprovedProperties	3158299	usd
CY2022Q4	us-gaap	Capitalized Costs Unproved Properties CapitalizedCostsUnprovedProperties	2865556	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zDNkbqvKtlI" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 6pt; text-align: justify"><b><span id="xdx_86E_z7QNYVnJu9R1">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>
CY2023Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2100000	usd
CY2023Q3	us-gaap	Stock Issued During Period Shares Acquisitions StockIssuedDuringPeriodSharesAcquisitions	67000	shares
CY2023Q3	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	601000	usd
CY2023Q3	us-gaap	Business Acquisition Description Of Acquired Entity BusinessAcquisitionDescriptionOfAcquiredEntity	The Company has the right to extend the initial one-year Purchase Option period for two successive one-year periods by agreeing to issue an additional 42,000 shares of common stock prior to the end of the one-year period then in effect.
CY2023Q3	us-gaap	Capitalized Costs Proved Properties CapitalizedCostsProvedProperties	69756380	usd
CY2022Q4	us-gaap	Capitalized Costs Proved Properties CapitalizedCostsProvedProperties	52831131	usd
CY2023Q3	empr	Capitalized Costs Work In Process CapitalizedCostsWorkInProcess	1706199	usd
CY2022Q4	empr	Capitalized Costs Work In Process CapitalizedCostsWorkInProcess	8289652	usd
CY2023Q3	us-gaap	Capitalized Costs Oil And Gas Producing Activities Gross CapitalizedCostsOilAndGasProducingActivitiesGross	74620878	usd
CY2022Q4	us-gaap	Capitalized Costs Oil And Gas Producing Activities Gross CapitalizedCostsOilAndGasProducingActivitiesGross	63986339	usd
CY2023Q3	us-gaap	Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities	22014050	usd
CY2022Q4	us-gaap	Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities	20116696	usd
CY2023Q3	us-gaap	Capitalized Costs Oil And Gas Producing Activities Net CapitalizedCostsOilAndGasProducingActivitiesNet	52606828	usd
CY2022Q4	us-gaap	Capitalized Costs Oil And Gas Producing Activities Net CapitalizedCostsOilAndGasProducingActivitiesNet	43869643	usd
CY2023Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	677000	usd
CY2022Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	500000	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	1897000	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	1331000	usd
CY2023Q3	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	2795308	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	1878325	usd
CY2023Q3	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	927397	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	436796	usd
CY2023Q3	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	1867911	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	1441529	usd
CY2023Q3	us-gaap	Depreciation Depreciation	51000	usd
CY2022Q3	us-gaap	Depreciation Depreciation	39000	usd
	us-gaap	Depreciation Depreciation	164000	usd
	us-gaap	Depreciation Depreciation	99000	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	72000	usd
	empr	Asset Retirement Obligation Addition Of Estimate AssetRetirementObligationAdditionOfEstimate	233659	usd
	us-gaap	Asset Retirement Obligation Liabilities Settled AssetRetirementObligationLiabilitiesSettled	910967	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 Accretion Expense AssetRetirementObligationAccretionExpense	1277140	usd
	us-gaap	Asset Retirement Obligation Accretion Expense AssetRetirementObligationAccretionExpense	1009107	usd
CY2023Q3	us-gaap	Asset Retirement Obligation AssetRetirementObligation	27742852	usd
CY2022Q3	us-gaap	Asset Retirement Obligation AssetRetirementObligation	21722407	usd
CY2023Q3	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-1185921	usd
CY2022Q3	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	42474	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-1319401	usd
	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	-93740	usd
CY2023Q3	empr	Oil And Gas Receivables OilAndGasReceivables	3182548	usd
CY2022Q4	empr	Oil And Gas Receivables OilAndGasReceivables	3060341	usd
CY2023Q3	us-gaap	Oil And Gas Joint Interest Billing Receivables OilAndGasJointInterestBillingReceivables	3856691	usd
CY2022Q4	us-gaap	Oil And Gas Joint Interest Billing Receivables OilAndGasJointInterestBillingReceivables	2057719	usd
CY2022Q4	empr	Receivable From Former Ceo ReceivableFromFormerCEO	2130614	usd
CY2023Q3	us-gaap	Other Receivables OtherReceivables	186906	usd
CY2022Q4	us-gaap	Other Receivables OtherReceivables	531565	usd
CY2023Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	7226146	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	7780239	usd
CY2023Q3	empr	Accrued And Suspended Thirdparty Revenue Current AccruedAndSuspendedThirdpartyRevenueCurrent	4135488	usd
CY2022Q4	empr	Accrued And Suspended Thirdparty Revenue Current AccruedAndSuspendedThirdpartyRevenueCurrent	4415311	usd
CY2023Q3	empr	Accrued Salaries And Payroll Taxes AccruedSalariesAndPayrollTaxes	400890	usd
CY2022Q4	empr	Accrued Salaries And Payroll Taxes AccruedSalariesAndPayrollTaxes	3299785	usd
CY2023Q3	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	828226	usd
CY2022Q4	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	500481	usd
CY2022Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	208898	usd
CY2023Q3	us-gaap	Taxes Payable Current TaxesPayableCurrent	361513	usd
CY2022Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	1036535	usd
CY2023Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	5726117	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	9461010	usd
CY2023Q3	empr	Note Payable To Insurance Provider NotePayableToInsuranceProvider	0.0578	pure
CY2023Q3	us-gaap	Debt Current DebtCurrent	15726096	usd
CY2022Q4	us-gaap	Debt Current DebtCurrent	7199411	usd
CY2023Q3	us-gaap	Long Term Notes Payable LongTermNotesPayable	10000000	usd
CY2022Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	1076987	usd
CY2023Q3	empr	Less Related Parties Current Maturities LessRelatedPartiesCurrentMaturities	1060004	usd
CY2023Q3	empr	Long Term Debt Current Other LongTermDebtCurrentOther	116507	usd
CY2022Q4	empr	Long Term Debt Current Other LongTermDebtCurrentOther	4063115	usd
	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	288000	usd
	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	191000	usd
	empr	Cash Paid For Right Of Use Leases CashPaidForRightOfUseLeases	279000	usd
	empr	Cash Paid For Right Of Use Leases CashPaidForRightOfUseLeases	192000	usd
CY2023Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	1213403	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	776219	usd
CY2023Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	424819	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	256975	usd
CY2023Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	654524	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	547692	usd
CY2023Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	1079343	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	804667	usd
CY2023Q3	us-gaap	Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear	500197	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	454117	usd
CY2023Q3	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-605293	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	226702	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	21700	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	1202716	usd
CY2023Q3	empr	Less Imputed Interest LessImputedInterest	-123373	usd
CY2023Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	1079343	usd
CY2023Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	190000000	shares
CY2023Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q3	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.
CY2023Q3	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2022Q3	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	45348	usd
CY2022Q3	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	-1639438	usd
	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	1968466	usd
	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2023Q3	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-138056	usd
CY2023Q3	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.048	pure
CY2022Q3	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	10473	usd
CY2022Q3	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	-374979	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	454622	usd
	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.049	pure
CY2023Q3	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense	-5469	usd
CY2023Q3	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	0.002	pure
CY2022Q3	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	0.000	pure
	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense	-1529	usd
	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	0.000	pure
	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	0.000	pure
CY2023Q3	us-gaap	Income Tax Reconciliation Nondeductible Expense Other IncomeTaxReconciliationNondeductibleExpenseOther	-5355	usd
CY2023Q3	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.002	pure
CY2022Q3	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.000	pure
	us-gaap	Income Tax Reconciliation Nondeductible Expense Other IncomeTaxReconciliationNondeductibleExpenseOther	-5355	usd
	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.001	pure
	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.000	pure
CY2023Q3	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	619453	usd
CY2023Q3	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.215	pure
CY2022Q3	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	-55821	usd
CY2022Q3	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	0.259	pure
	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	1886581	usd
	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.242	pure
	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	-2423088	usd
	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.259	pure
CY2023Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-134720	usd
CY2023Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.047	pure
CY2022Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0	pure
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-134720	usd
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.017	pure
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0	pure
CY2023Q3	us-gaap	Equity Method Investment Ownership Percentage EquityMethodInvestmentOwnershipPercentage	0.24	pure
	us-gaap	Related Party Transaction Amounts Of Transaction RelatedPartyTransactionAmountsOfTransaction	1400000	usd

Files In Submission

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empr-20230930_lab.xml	Edgar Link	unprocessable
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R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$EP
EMPIRE PETROLEUM CORP Stock $ep

2023 Q4 Form 10-Q Financial Statement

#000107261323000570 Filed on November 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EP EMPIRE PETROLEUM CORP Stock $ep

2023 Q4 Form 10-Q Financial Statement

#000107261323000570 Filed on November 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EP
EMPIRE PETROLEUM CORP Stock $ep