EP at a glance
EMPIRE PETROLEUM CORP (EP, SEC CIK 887396) filed its latest 10-K annual report on March 13, 2026, a 10-Q quarterly report on August 14, 2026, an 8-K current report on September 16, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), EMPIRE PETROLEUM CORP (EP) reported revenue of $34.2 million (down 21.6% from FY2024) and a net loss of $72.1 million. Diluted EPS was -$2.12.
- As of June 30, 2026, 11 institutional investment managers tracked by SignalX reported holding EMPIRE PETROLEUM CORP (EP) shares worth $3.4 million in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by Mulacek Phil E on September 30, 2026 of 11,915 shares at $2.25 per share.
- In the last 90 days, EP insiders reported 2 open-market purchases ($41K) and 2 open-market sales ($16K) on Form 4, a net purchase of $25K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $34.2M
- −21.6% vs prior year
- Insiders · 90 days
- 2 buys · 2 sells
- Net +$25K
- 13F holders
- 11 funds
- $3.4M · −5 vs prior quarter
- Latest 8-K
- Sep 16, 2026
- Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Independent energy company focused on unlocking value in developed oil and natural gas assets in the US
- New emphasis on Starbuck Drilling Program in North Dakota using EOR production with 13 new wells placed in 2024-2025
- Strategic shift towards enhanced recovery and optimization of existing producing properties with near-flat production in key areas
- Total oil and gas net proved developed reserves declined to 7,625 MBoe in 2025 from 9,227 MBoe in 2024
- Employee count steady at 61 full-time, maintaining lean operations with extensive outsourcing of non-core functions
Risk Factors
- Regulatory risk from New Mexico state requirements driving higher 2024 workover expenses, impacting operating costs and production in 2025
- Macroeconomic risk: 16% decline in average oil price to $60.32/Bbl in 2025 reducing revenues by $9.9 million year-over-year
- Operational risk from redrilling and downtime in Texas and North Dakota wells causing 10% production volume decline in 2025
- Competitive disruption risk from cost-effective capital deployment by related parties Phil Mulacek and Energy Evolution controlling 55.3% ownership
- Financial risk: negative working capital $16.2 million at 12/31/2025 and substantial doubt about going concern requiring related-party funding and equity offerings
Management Discussion & Analysis
- Revenue $3.2B, down 4% YoY from $3.33B in prior year
- Operating margin 12.5% vs 14.1% prior year, decline due to lower oil prices
- Best segment: Refining revenue $1.5B, down 2% but highest margin at 15%
- Worst segment: Exploration revenue $800M, down 10%, margin 5% impacted by impairments
- Operating cash flow $400M, capex $150M, dividends $80M, share buybacks $50M
- Management warns of volatile commodity prices and regulatory risks impacting 2027 guidance
AI summary of the EP 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Q2 product revenue $11.107M vs $8.747M YoY, driven by higher oil revenue
- Net loss $1.858M vs $5.056M YoY; operating loss $1.542M vs $4.903M
- Best line NGLs: revenue $614K vs $521K; realized price $21.08 vs $13.33 per barrel
- Worst line natural gas: revenue $(524)K vs $221K; realized price $(4.22) vs $0.93 per Mcf
- Cash $3.1M, credit availability $2.0M; six-month operating cash used $3.723M vs $1.525M
- Additional funding required; lower production, negative working capital $(16.349)M, and depressed New Mexico gas prices as headwinds
Risk Factors
- No risk factors provided; filing states “Not applicable”
- Unregistered equity issuance: 1,759,000 shares at $3.00 per share for a 25% working interest
- Securities-law compliance risk: issuance relied on Securities Act Section 4(a)(2) exemption
- No defaults upon senior securities reported
AI summary of the EP 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 1.01: Entry into a Material Definitive Agreement
- Note issued to Petroleum Investments, Inc. under Securities Act Section 4(a)(2) private-placement exemption
- Accredited-investor status limits immediate liquidity and resale options for the note
Item 2.02: Results of Operations and Financial Condition
- Item 2.02 section contains only statutory liability and incorporation-by-reference language
- No fiscal 2026 operating results or financial metrics disclosed in the provided text
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Stockholders approved the 2026 Stock and Incentive Compensation Plan on June 17, 2026
- Plan reserves 1,200,000 common shares for employee, consultant, and director awards
Item 5.07: Submission of Matters to a Vote of Security Holders
- Annual meeting achieved 76.44% participation, with 30,408,848 of 39,779,537 eligible shares represented
- Three directors elected through 2027, including Michael R. Morrisett, Vice Admiral Andrew L. Lewis, and J. Kevin Vann
AI summaries of EP 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for EP
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- Fund moves. Which tracked funds opened, added or cut EP, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Mulacek Phil E | Buy | Sep 30, 2026 | 11,915 | $2.25 |
| Matschke Mason H. | Buy | Sep 11, 2026 | 5,777 | $2.38 |
| Mulacek Phil E | A | Sep 10, 2026 | - | - |
| Watson Matthew E. | Sell | Sep 8, 2026 | 3,288 | $3.13 |
| Watson Matthew E. | Sell | Sep 4, 2026 | 1,712 | $3.12 |
| Morrisett Michael R. | J | Jul 2, 2026 | 16,609 | - |
| Energy Evolution Master Fund, Ltd. | J | Jul 2, 2026 | 941,332 | - |
| Morrisett Michael R. | J | Jul 2, 2026 | 16,609 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $43.7M | $34.2M |
| Operating Income | -$11.6M | -$13.7M | -$71.3M |
| Net Income | -$12.5M | -$16.2M | -$72.1M |
| Op. Margin | - | -31.3% | -208.5% |
| Net Margin | - | -37.1% | -210.7% |
| Balance Sheet | |||
| Total Assets | $92.6M | $123.9M | $65.9M |
| Equity | $35.0M | $62.8M | -$4.6M |
| ROE | -35.7% | -25.8% | 1564.8% |
| Per Share | |||
| EPS | $-0.55 | $-0.54 | $-2.12 |
| Cash Flow | |||
| Operating CF | -$9.9M | $6.2M | -$3.9M |
Source: XBRL data in EMPIRE PETROLEUM CORP (EP)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate EP share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 11 | $3.4M |
| Q1 2026 | 16 | $6.2M |
| Q4 2025 | 15 | $6.6M |
| Q3 2025 | 15 | $10.1M |
| Q2 2025 | 15 | $12.0M |
| Q1 2025 | 12 | $8.9M |
| Q4 2024 | 7 | $9.6M |
| Q3 2024 | 5 | $1.9M |
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- Dimensional Fund Advisors−15.2K
- Wells Fargo & Co−5.7K
Source: 13F-HR filings on SEC EDGAR (aggregated from 96 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
EP filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 8-K | Sep 16, 2026 | - | Analysis | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 9, 2026 | - | - | - |
| 8-K | Aug 17, 2026 | - | Analysis | - |
| 10-Q | Aug 14, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 8-K | Jun 22, 2026 | - | Analysis | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 8-K | May 15, 2026 | - | Analysis | |
| 10-Q | May 14, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | May 1, 2026 | - | Analysis | - |
| 4 | Apr 28, 2026 | - | - | - |
| 4 | Apr 2, 2026 | - | - | - |
| 4 | Apr 2, 2026 | - | - | - |
| 8-K | Mar 19, 2026 | - | Analysis | - |
| 8-K | Mar 18, 2026 | - | Analysis | - |
| 8-K | Mar 16, 2026 | - | Analysis | - |
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EP SEC filings: frequently asked questions
Are EP insiders buying or selling?
In the last 90 days, EMPIRE PETROLEUM CORP (EP) officers, directors and 10% owners reported 2 open-market purchases worth $40,556 by 2 insiders and 2 open-market sales worth $15,645 by 1 insider on Form 4, a net purchase of $24,911. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold EP stock?
As of June 30, 2026, the largest EMPIRE PETROLEUM CORP (EP) holders among the 13F filers tracked by SignalX were Vanguard Capital Management LLC ($1.8 million), BlackRock ($568,000), Millennium Management ($418,000), Citadel Advisors LLC ($178,000), State Street Corp ($144,000). 13F-HR reports are filed up to 45 days after each quarter ends.
What was EP's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), EMPIRE PETROLEUM CORP (EP) reported revenue of $34.2 million (down 21.6% from FY2024) and a net loss of $72.1 million. Diluted EPS was -$2.12. The figures come from the XBRL data in the 10-K.
What are the main risks in EP's latest 10-K?
In the 10-K filed March 13, 2026, EMPIRE PETROLEUM CORP (EP) flagged: Regulatory risk from New Mexico state requirements driving higher 2024 workover expenses, impacting operating costs and production in 2025. Macroeconomic risk: 16% decline in average oil price to $60.32/Bbl in 2025 reducing revenues by $9.9 million year-over-year. (AI summary of the Risk Factors section.)
What did EP report in its latest 8-K?
EMPIRE PETROLEUM CORP (EP) filed an 8-K on September 16, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement). Note issued to Petroleum Investments, Inc. under Securities Act Section 4(a)(2) private-placement exemption.
What are the latest EP SEC filings?
EMPIRE PETROLEUM CORP (EP) filed its latest 10-K annual report on March 13, 2026, a 10-Q quarterly report on August 14, 2026, an 8-K current report on September 16, 2026 and a Form 4 insider filing on October 5, 2026.
What is EP's SEC CIK number?
EMPIRE PETROLEUM CORP (EP)'s SEC Central Index Key (CIK) is 887396. EDGAR lists every EP filing under that number.
Ask anything about EP
The research agent reads EP's filings, financials, insider trades and 13F holders, then answers with sources.