Empire Petroleum
Empire Petroleum Corporation is a US onshore conventional oil and natural gas producer that acquires, operates, and optimizes proved developed producing wells across the Permian Basin, Williston Basin, Gulf Coast, and East Texas, with proprietary thermal EOR technology and a CO2 EOR pilot in New Mexico's Residual Oil Zone.
- Company typePublic
- Founded1983
- HeadquartersTulsa, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Empire Petroleum does
Empire Petroleum Corporation is a US onshore conventional oil and natural gas producer, originally incorporated in 1983 and headquartered in Tulsa, Oklahoma, with a corporate office in The Woodlands, Texas, that trades on NYSE American under ticker EP. The company's core business is acquiring and optimizing proved developed producing (PDP) assets across a multi-basin footprint spanning the Permian Central Basin Platform (Lea County, New Mexico), the Williston Basin (North Dakota and Montana), the central Gulf Coast (Louisiana), and the East Texas Basin. It manages approximately 48,000 acres in the Permian, ~20,000 acres in the Williston, and ~30,000 acres in East Texas, including Woodbine, Eagle Ford, and Buda-Rose plays.
The company's underlying technology and operations are built around three pillars: (1) operational well rehabilitation, stimulation, and field maintenance applied to long-life, slow-decline mature wells that reduce exploration risk relative to drilling-focused peers; (2) proprietary enhanced oil recovery (EOR) technologies including a superheated steam generation and injection system (USPTO Notice of Allowance received) and a hydrocarbon vaporization technology (final patent filed), deployed in the Starbuck Drilling Program in North Dakota and as a CO2 EOR pilot in New Mexico's Residual Oil Zone; and (3) a development program in the East Texas Basin targeting conventional formations (Glen Rose, Rodessa, James Lime, Travis Peak, Haynesville-Bossier) through well reactivation, recompletion, and deepening. At year-end 2025 the company reported 7.6 MMBoe of SEC proved reserves (~77% crude oil, 9% NGLs, 14% natural gas) with a standardized measure of discounted future net cash flows of $58.6M.
Empire operates a pure commodity producer revenue model with no direct downstream customers; crude oil is sold to refiners, natural gas is sold into pipeline networks delivering to utilities and industrial buyers, and NGLs are sold to processing facilities. Pricing is set by market (WTI for oil, Henry Hub for gas), with the company running an opportunistic hedging program that hedged approximately 90% of Q2 2026 estimated oil production at a blended price exceeding $72 per barrel. For FY2025, total product revenue was $34.2 million (down from $44.0M in FY2024), with a net loss of $72.1M, while Q1 2026 revenue was $7.7M and net loss was $6.6M. The GTM motion is sales-led commodity sales supported by investor relations outreach through SEC filings, earnings presentations, and social channels. The business is small (51-100 employees), publicly listed with a market capitalization of approximately $106 million as of mid-2026, has completed three equity rights offerings since March 2024 totaling roughly $37.5 million to fund development, and relies on a $20 million revolver with Equity Bank extended to December 2028 for liquidity.
Empire Petroleum firmographics
Firmographics- Name
- Empire Petroleum
- Legal name
- Empire Petroleum Corporation
- Website
- https://empirepetroleumcorp.com
- Company type
- Public
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Empire Petroleum Corporation is a US onshore conventional oil and natural gas producer that acquires, operates, and optimizes proved developed producing wells across the Permian Basin, Williston Basin, Gulf Coast, and East Texas, with proprietary thermal EOR technology and a CO2 EOR pilot in New Mexico's Residual Oil Zone.
- Ownership category
- akta.pro rank
Empire Petroleum industry classification
Industry- Product category
- Upstream Oil and Gas Production
- NAICS
- Crude Petroleum Extraction (21112), Natural Gas Extraction (211130)
- SIC
- Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)
- akta.pro secondary industries
- Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG), Field Development & EOR/IOR for Gas (Compression, Refracturing, Reservoir Management) (EUAAAAAM)
Keywords
Where Empire Petroleum is headquartered
LocationHeadquarters
- HQ city
- Tulsa
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Empire Petroleum business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Others
Revenue model
- Oil Sales: Sale of crude oil produced from operated and non-operated wells in New Mexico, North Dakota, Montana, Louisiana, and Texas. Oil sales represent the majority of revenue (approximately 66% of production mix).
- Natural Gas Sales: Sale of natural gas produced from Texas and other properties. Gas volumes are increasing through the company's Texas natural gas development program.
- Natural Gas Liquids (NGLs) Sales: Sale of natural gas liquids extracted during production processing.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
Empire Petroleum product offering
Product offeringCore offering
Empire Petroleum is a conventional oil and natural gas producer focused on US onshore assets. The company operates long-life, mature, producing assets with slow decline profiles in the Permian Basin, Williston Basin, and East Texas Basin, producing crude oil, natural gas, and natural gas liquids (NGLs) for sale to refiners and gas buyers.
Product overview
Empire Petroleum Corporation is a conventional oil and natural gas producer focused on US onshore assets. The company's product portfolio centers on crude oil, natural gas, and natural gas liquids (NGLs) production from long-life, mature producing assets with slow decline profiles. Key operational programs include the Starbuck Drilling Program in North Dakota utilizing proprietary thermal recovery technology, the Texas Natural Gas Development Program targeting multiple conventional formations, and the Louisiana Development Program. The company also operates CO2 EOR projects in New Mexico's Permian Basin. Operations span the Permian Central Basin Platform, Williston Basin, and East Texas Basin across New Mexico, North Dakota, Montana, Louisiana, and Texas.
Differentiator
Problem solved
Functional benefit
Products and services
- Starbuck Drilling Program
- Texas Natural Gas Development Program
- Louisiana Oil and Natural Gas Development Program
- CO2 Enhanced Oil Recovery (EOR) Pilot Project
Quantifiable outcome
- Production volumes from three reactivated wells increased approximately 45% compared to Q4 2025
- +2 more outcomes
Companies that use Empire Petroleum
Customer profileSegments1 record
Ideal customer profiles1 record
Empire Petroleum technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Empire Petroleum partnerships and signals
Strategic signalScale indicators10 records
Recent moves11 records
Expansion highlights6 records
Empire Petroleum competitors and assessment
Company assessmentBroad incumbents
- Talos Energy: Larger diversified US Gulf of Mexico and conventional onshore operator; while considerably bigger, it competes for the same conventional E&P deals and Gulf Coast acreage in which Empire operates.
Direct peers
- Granite Ridge Resources: Small-cap public upstream focused on non-operated working interests in mature US basins with a PDP bias, recently IPO'd from EnCap portfolio with a multi-basin conventional asset base closely resembling Empire's strategy.
- W&T Offshore: Small-cap public upstream with Gulf of Mexico and Gulf Coast conventional operations, comparable in scale to Empire and overlapping its Louisiana operational footprint and conventional production focus.
- Ring Energy: Small-cap public Permian-focused upstream operator pursuing workover-driven production optimization on legacy conventional assets, overlapping directly with Empire's New Mexico Permian operating footprint and reactivation approach.
- Vital Energy: Small/mid-cap Permian-focused upstream operator pursuing conventional development with workover and infill activities, comparable multi-basin conventional operations and similar sensitivity to oil prices.
- Black Stone Minerals: Public mineral and royalty interests company with large US onshore acreage footprint similar in scale to Empire, providing overlap through ownership of conventional oil and gas mineral rights in the Permian and East Texas basins.
- Crescent Energy: Publicly traded PDP-focused upstream operator that emerged from the Contango/Independence merger, applying workover/recompletion techniques to mature conventional wells across multiple US basins with very similar scale and strategy.
- Mach Natural Resources: Recently IPO'd small-cap conventional upstream operator in the Anadarko Basin pursuing a low-decline, multi-well development program targeting similar long-life mature asset characteristics as Empire's PDP portfolio.
- Battalion Oil: Small-cap public upstream focused on reactivation and optimization of mature conventional wells in the Permian region, comparable operating model of bringing inactive wells back online at low cost.
- Mexco Energy: Long-standing small-cap public upstream with Permian Basin conventional assets pursuing low-risk production from mature fields, sized similarly to Empire and operating with a comparable PDP-oriented strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
Empire Petroleum social profiles
Digital presenceEmpire Petroleum financial estimates
Financial estimateRevenue estimate
Valuation estimate
Empire Petroleum leadership team
Management profileNumber of profiles
Profiles7 records
Empire Petroleum subsidiaries and ownership
Company hierarchySubsidiaries1 record
Empire Petroleum funding detail
Funding detailFunding overview
Funding rounds5 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Empire Petroleum M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Empire Petroleum
What does Empire Petroleum do?
Empire Petroleum is a conventional oil and natural gas producer focused on US onshore assets. The company operates long-life, mature, producing assets with slow decline profiles in the Permian Basin, Williston Basin, and East Texas Basin, producing crude oil, natural gas, and natural gas liquids (NGLs) for sale to refiners and gas buyers.
Is Empire Petroleum a public or private company?
Empire Petroleum is a public company. It is classified as public and is currently operating.
When was Empire Petroleum founded?
Empire Petroleum was founded in 1983. It employs 51 to 100 people.
Where is Empire Petroleum based?
Empire Petroleum is headquartered in Tulsa, United States, in the North America region.
How does Empire Petroleum make money?
Three revenue lines are on record. Oil Sales are the primary driver. The others are natural Gas Sales and natural Gas Liquids (NGLs) Sales.
Who are Empire Petroleum's main competitors?
Talos Energy is listed as a broad incumbent. Direct peers are Granite Ridge Resources, W&T Offshore, Ring Energy, Vital Energy, Black Stone Minerals, Crescent Energy, Mach Natural Resources, Battalion Oil and Mexco Energy.
Does Empire Petroleum have an API?
No public API is recorded for Empire Petroleum.
What industry is Empire Petroleum in?
Empire Petroleum's product category is Upstream Oil and Gas Production. Its primary akta.pro industry code is EUALAAAF, Production Operations & Well Optimization (Artificial Lift, Flow Assurance), with a secondary code of EUAAAAAG, Onshore Natural Gas E&P (Conventional Fields). Its NAICS code is 21112 and its SIC code is 1311.