Overview
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- TickerEP on NYSE1
- IndustryCrude Petroleum & Natural Gas1
- HeadquartersTulsa, Oklahoma1
- Incorporated inDE2
- Business address2200 S. Utica Place, Suite 150, Tulsa, Ok 741142
- Filer categoryNon-accelerated filer, Smaller reporting company2
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In this Form 10-K, references to “Empire”, the “Company”, “we”, “our”, and “us” refer to Empire Petroleum Corporation and its wholly-owned subsidiaries, unless context indicates otherwise.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$34.2M
Out of $34.2M in revenue.5 The company lost money this year.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $5.9M6 | $7.7M7 | $27.1M8 | $52.9M9 | $40.1M10 | $43.6M5 | $34.2M5 |
| Operating expenses | $27.6M8 | $44.1M9 | $51.7M10 | $57.3M5 | $105.5M5 | ||
| Operating income | -$6.2M6 | -$17.6M7 | -$473.4K8 | $8.8M9 | -$11.6M10 | -$13.7M5 | -$71.3M5 |
| Interest | -$503.6K13 | ||||||
| Income before tax | -$18.6M8 | $7.3M9 | -$12.6M10 | -$16.2M5 | -$72.1M5 | ||
| Income tax | $208.9K9 | -$132.2K10 | |||||
| Net income | -$6.7M6 | -$16.8M7 | -$18.6M8 | $7.1M9 | -$12.5M10 | -$16.2M5 | -$72.1M5 |
| Earnings per share | -$1.278 | $0.349 | -$0.5510 | -$0.545 | -$2.125 | ||
| Earnings per share (diluted) | -$1.278 | $0.309 | -$0.5510 | -$0.545 | -$2.125 | ||
| Shares (weighted, basic) | 14.6M shares8 | 21.0M shares9 | 22.7M shares10 | 30.1M shares5 | 34.1M shares5 | ||
| Shares (weighted, diluted) | 14.6M shares8 | 23.4M shares9 | 22.7M shares10 | 30.1M shares5 | 34.1M shares5 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash | $06 | $157.7K7 | $3.6M8 | $11.9M9 | $7.8M10 | $2.3M5 | $1.2M5 |
| Receivables | $7.7M8 | $7.8M9 | $8.4M10 | $8.2M5 | $5.1M5 | ||
| Inventory | $1.0M8 | $1.8M9 | $1.4M10 | $1.3M5 | $1.3M5 | ||
| Current assets | $1.7M6 | $2.2M7 | $13.1M8 | $22.7M9 | $18.7M10 | $12.4M5 | $8.2M5 |
| Property, plant and equipment | $30.7M8 | $45.3M9 | $72.4M10 | $110.1M5 | $56.3M5 | ||
| Total assets | $11.0M6 | $11.2M7 | $50.1M8 | $71.5M9 | $92.6M10 | $123.9M5 | $65.9M5 |
| Accounts payable | $4.3M8 | $5.8M9 | $16.4M10 | $10.5M5 | $10.8M5 | ||
| Short-term debt | $6.1M8 | $2.1M9 | $44.2K10 | $70.0K5 | $641.0K5 | ||
| Current liabilities | $2.2M6 | $6.1M7 | $12.1M8 | $17.6M9 | $25.0M10 | $21.3M5 | $24.3M5 |
| Long-term debt | $7.7M13 | $4.6M10 | $11.3M10 | ||||
| Total liabilities | $16.0M6 | $29.7M7 | $40.3M8 | $48.3M9 | $57.7M10 | $61.1M5 | $70.5M5 |
| Retained earnings | -$59.2M8 | -$52.1M9 | -$64.6M10 | -$80.8M5 | -$152.9M5 | ||
| Shareholders’ equity | -$4.9M7 | -$18.4M8 | $9.8M9 | $23.2M10 | $35.0M5 | $62.8M5 | -$4.6M5 |
| Shares outstanding | 20.4M shares6 | 6.2M shares7 | 19.8M shares8 | 22.1M shares9 | 25.5M shares10 | 33.7M shares5 | 34.9M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$592.3K6 | -$1.7M7 | $3.2M8 | $18.1M9 | -$9.9M10 | $6.2M5 | -$3.9M5 |
| Depreciation and amortization | $2.5M7 | $1.9M9 | $3.1M10 | $9.3M5 | $10.6M5 | ||
| Stock-based compensation | $3.1M10 | $2.2M5 | $1.4M5 | ||||
| Capital spending | -$14.5K13 | ||||||
| Free cash flow | -$606.8K | ||||||
| Cash from investing | -$24.7M8 | -$11.4M9 | -$14.8M10 | -$53.9M5 | -$4.6M5 | ||
| Cash from financing | $25.0M8 | $1.7M9 | $20.5M10 | $42.2M5 | $7.5M5 |
Corporate structure
EMPIRE PETROLEUM CORP sits at the top of its group. 15 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of EMPIRE PETROLEUM CORP
- Energy Evolution Master Fund, Ltd. Filed SCHEDULE 13D/A on EMPIRE PETROLEUM CORP, latest Jul 7, 2026 (4 filings since Oct 12, 2021)
- Michael R. Morrisett Filed SCHEDULE 13D/A on EMPIRE PETROLEUM CORP, latest Nov 7, 2025
- Phil E. Mulacek Filed SC 13D/A on EMPIRE PETROLEUM CORP, latest Nov 27, 2024 (2 filings since Jun 28, 2024)
- Thomas W. Pritchard Filed SC 13D/A on EMPIRE PETROLEUM CORP, latest Apr 28, 2023
- PUCKETT LAND CO Filed SC 13D/A on EMPIRE PETROLEUM CORP, latest Aug 17, 2022
- Tony Kamin Filed SC 13D/A on EMPIRE PETROLEUM CORP, latest Aug 17, 2022 (2 filings since Jun 17, 2022)
- EMPIRE PETROLEUM CORP Tulsa, Oklahoma
- Empire AGU LLC Subsidiary · Delaware, United States
- Empire EMSU LLC Subsidiary · Delaware, United States
- Empire EMSU-B LLC Subsidiary · Delaware, United States
- Empire Louisiana LLC Subsidiary · Delaware, United States
- Empire ND Acquisition LLC Subsidiary · Delaware, United States
- Empire New Mexico LLC Subsidiary · Delaware, United States
- Empire NM Assets LLC Subsidiary · Delaware, United States
- Empire North Dakota LLC Subsidiary · Delaware, United States
- Empire Northwest Shelf LLC Subsidiary · Delaware, United States
- Empire Texas Development LLC Subsidiary · Delaware, United States
- Empire Texas GP LLC Subsidiary · Texas, United States
- Empire Texas LLC Subsidiary · Delaware, United States
- Empire Texas Operating LLC Subsidiary · Texas, United States
- Pardus Oil & Gas Operating, LP Subsidiary · Texas, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What EMPIRE PETROLEUM CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $56.3M5 Dec 31, 2025 | $110.1M5 Dec 31, 2024 | −48.9% |
| Operating-lease assets (leased space) | $328.0K5 Dec 31, 2025 | $604.0K5 Dec 31, 2024 | −45.7% |
| Oil and gas properties | $54.8M5 Dec 31, 2025 | $108.7M5 Dec 31, 2024 | −49.6% |
Investments
Inventory
Properties, in its own words
Information regarding our properties is included in Item 1 above and in our consolidated financial statements, which is incorporated herein by reference.
Item 2 of the 10-K filed Mar 13, 2026.4
Leadership
Who has led EMPIRE PETROLEUM CORP, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerMichael R. Morrisett Apr 24, 2024 to now14
- Chief executive officerThomas W. Pritchard Dec 6, 2017 to Jan 6, 202315
- PresidentMichael R. Morrisett Dec 5, 2017 to now16
- PresidentAlbert E. Whitehead Aug 31, 2006 to Dec 30, 201417
- Chief financial officerStephen L. Faulkner Jr. Jun 8, 2023 to Jun 8, 202318
- Chief operating officerEugene J. Sweeney Mar 3, 2022 to Jul 5, 202219
Board members and other officers (13)
- VP, Finance/Strategic PlanningJ. Kevin Vann Oct 21, 2022 to Jan 3, 202320
- Controller and Chief Acctg OfcStephen L. Faulkner Jr. Dec 19, 2022 to Jan 3, 202321
- Chief Accounting OfficerAngela M. Baker Oct 28, 2021 to Mar 2, 202222
- Board memberJ. Kevin Vann Jun 1, 2023 to now23
- Board memberPhil E. Mulacek Mar 2, 2022 to now24
- Board memberMason H. Matschke May 12, 2021 to now25
- Board memberThomas W. Pritchard Apr 5, 2019 to Jan 6, 202326
- Board memberTony Kamin Jan 26, 2017 to Mar 2, 202227
- Board memberMichael R. Morrisett Dec 5, 2017 to now16
- Board memberKevin R. Seth Mar 2, 2011 to Mar 2, 201128
- Board memberJohn C. Kinard Mar 25, 2008 to Mar 27, 200929
- Board memberAlbert E. Whitehead Aug 31, 2006 to Dec 30, 201417
- Board memberMontague H. Hackett Sep 14, 2006 to Mar 15, 201130
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Empire AGU LLC Delaware3
- Empire EMSU LLC Delaware3
- Empire EMSU-B LLC Delaware3
- Empire Louisiana LLC Delaware3
- Empire ND Acquisition LLC Delaware3
- Empire NM Assets LLC Delaware3
- Empire New Mexico LLC Delaware3
- Empire North Dakota LLC Delaware3
- Empire Northwest Shelf LLC Delaware3
- Empire Texas Development LLC Delaware3
- Empire Texas GP LLC Texas3
- Empire Texas LLC Delaware3
- Empire Texas Operating LLC Texas3
- Pardus Oil & Gas Operating, LP Texas3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- AMERICOMM RESOURCES CORPMay 8, 1996 to Aug 27, 20012
Timeline
- Sep 16, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares31
- Aug 17, 20268-K Results of operations32
- Jun 22, 20268-K Executive or director change; Shareholder vote33
- May 15, 20268-K Results of operations34
- May 1, 20268-K Entered a material agreement35
- Mar 19, 20268-K Other events36
- Mar 18, 20268-K Other events37
- Mar 16, 20268-K Results of operations38
- Feb 25, 20268-K Other events39
- Feb 23, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares40
- Feb 2, 20268-K Other events41
- Jan 21, 20268-K Other events42
- Apr 24, 2024New chief executive Michael R. Morrisett becomes CEO14
- Dec 6, 2017New chief executive Thomas W. Pritchard becomes CEO15
Calendar
Coming up
- Nov 16, 2026Reports results for the quarter ending Sep/202643
When it reported results
- Aug 17, 2026Reported quarterly or annual results32
- May 15, 2026Reported quarterly or annual results34
- Mar 16, 2026Reported quarterly or annual results38
- Nov 17, 2025Reported quarterly or annual results44
- Aug 14, 2025Reported quarterly or annual results45
- May 15, 2025Reported quarterly or annual results46
- Mar 28, 2025Reported quarterly or annual results47
- Nov 15, 2024Reported quarterly or annual results48
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
293 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 84 major events, 135 insider forms, 11 large holders, 43 other. The latest 20:
- Oct 13, 20264 PHIL MULACEK EDGAR
- Oct 5, 20264 PHIL MULACEK EDGAR
- Sep 25, 2026EFFECT EDGAR
- Sep 18, 2026S-3/A FORM S-3/A(#1) DATED SEPTEMBER 18, 2026 EDGAR
- Sep 16, 20264 FORM 4 - PHIL MULACEK EDGAR
- Sep 16, 20268-K FORM 8K DATED SEPTEMBER 10, 2026 EDGAR
- Sep 15, 20264 MASON MATSCHKE EDGAR
- Sep 9, 20264 MATTHEW WATSON EDGAR
- Sep 3, 2026S-3 FORM S-3 DATED SEPTEMBER 3, 2026 EDGAR
- Aug 17, 20268-K FORM 8K DATED AUGUST 17, 2026 EDGAR
- Aug 14, 202610-Q EDGAR
- Jul 7, 20264 MICHAEL MORRISETT EDGAR
- Jul 7, 20264 ENERGY EVOLUTION MASTER FUND, LTD. EDGAR
- Jul 7, 2026SCHEDULE 13D/A EDGAR
- Jun 30, 2026S-8 FORM S-8 DATED JUNE 30, 2026 EDGAR
- Jun 22, 20268-K FORM 8K DATED JUNE 17, 2026 EDGAR
- Jun 18, 20264 MATTHEW WATSON EDGAR
- Jun 18, 20264 J KEVIN VANN EDGAR
- Jun 18, 20264 PHIL MULACEK EDGAR
- Jun 18, 20264 MASON MATSCHKE EDGAR
The 293 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
54 open-market trades by officers, directors and large owners since October 2021: 48 buys and 6 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 11, 2026 | Matschke Mason H.Director | Buy | 5,777 | $2.38 | $13.7K | Form 4 |
| Sep 8, 2026 | Watson Matthew E.Chief Accounting Officer | Sale | 3,288 | $3.13 | $10.3K | Form 4 |
| Sep 4, 2026 | Watson Matthew E.Chief Accounting Officer | Sale | 1,712 | $3.12 | $5.3K | Form 4 |
| May 29, 2026 | Matschke Mason H.Director | Buy | 7,777 | $2.54 | $19.8K | Form 4 |
| Jan 2, 2026 | Mulacek Phil EDirector | Buy | 1,068 | $3.00 | $3.2K | Form 4 |
| Dec 31, 2025 | Mulacek Phil EDirector | Buy | 5,732 | $2.99 | $17.2K | Form 4 |
| Dec 30, 2025 | Mulacek Phil EDirector | Buy | 84 | $3.00 | $252 | Form 4 |
| Dec 29, 2025 | Mulacek Phil EDirector | Buy | 5,367 | $3.00 | $16.1K | Form 4 |
| Dec 2, 2025 | Mulacek Phil EDirector | Buy | 7,223 | $3.00 | $21.7K | Form 4 |
| Nov 28, 2025 | Mulacek Phil EDirector | Buy | 1,743 | $3.00 | $5.2K | Form 4 |
| Nov 26, 2025 | Mulacek Phil EDirector | Buy | 1,316 | $3.00 | $3.9K | Form 4 |
| Nov 18, 2025 | Marchive Benjamin J. IIDirector | Buy | 2,000 | $3.14 | $6.3K | Form 4 |
| Nov 5, 2025 | Mulacek Phil EDirector | Buy | 187,084 | $3.77 | $705.3K | Form 4 |
| Nov 5, 2025 | Morrisett Michael R.President & CEO | Sale | 187,084 | $3.77 | $705.3K | Form 4 |
| Oct 22, 2025 | Mulacek Phil EDirector | Buy | 4,000 | $3.75 | $15.0K | Form 4 |
| Oct 20, 2025 | Mulacek Phil EDirector | Buy | 8,190 | $3.58 | $29.3K | Form 4 |
| Sep 17, 2025 | Mulacek Phil EDirector | Buy | 20,609 | $4.04 | $83.3K | Form 4 |
| Sep 16, 2025 | Mulacek Phil EDirector | Buy | 6,689 | $4.03 | $27.0K | Form 4 |
| Sep 15, 2025 | Mulacek Phil EDirector | Buy | 9,648 | $3.98 | $38.4K | Form 4 |
| Sep 12, 2025 | Mulacek Phil EDirector | Buy | 6,000 | $4.08 | $24.5K | Form 4 |
All 54 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Energy Evolution Master Fund, Ltd.SCHEDULE 13D/A, 4 filings Oct 12, 2021 to Jul 7, 202649
- Michael R. MorrisettSCHEDULE 13D/A, 1 filing Nov 7, 202550
- Phil E. MulacekSC 13D/A, 2 filings Jun 28, 2024 to Nov 27, 202451
- Thomas W. PritchardSC 13D/A, 1 filing Apr 28, 202352
- PUCKETT LAND COSC 13D/A, 1 filing Aug 17, 202253
- Tony KaminSC 13D/A, 2 filings Jun 17, 2022 to Aug 17, 202254
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Michael R. MorrisettPresident and Chief Executive Officer | $285.0K | $305.2K55 | |
| 2024 | Michael R. MorrisettPresident and Chief Executive Officer | $260.0K | $475.2K55 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 33. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How EMPIRE PETROLEUM CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGAREMPIRE PETROLEUM CORP1
- CIK0000887396
- Employer ID (EIN)73-12387094
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)1311 Crude Petroleum & Natural Gas1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address2200 S. Utica Place, Suite 150, Tulsa, OK 741141
- Phone(539) 444-80021
- Shares outstanding41,577,341 as of Aug 11, 202612
- Public float$76.9M as of Jun 30, 20254
- AuditorGRANT THORNTON LLP, Tulsa, Oklahoma PCAOB ID 248; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceMay 8, 19961
- Filings681 in all: 4 (170), 8-K (159), 10-Q (56), 10QSB (36), SC 13D/A (25), 3 (19), 10-K (18), 8-K/A (14)1
All 47 form types
UPLOAD (13), 10KSB (12), 424B5 (12), CORRESP (12), 10QSB/A (11), 4/A (11), D (11), SC 13D (11), DEF 14A (9), SC 13G (7), NT 10-Q (6), 10KSB/A (5), EFFECT (5), NT 10-K (5), S-8 (5), 424B3 (4), ARS (4), SC 13G/A (4), 10-K/A (3), 10-Q/A (3), 5 (3), PRE 14A (3), S-3 (3), 10SB12B (2), 144 (2), D/A (2), DEFS14A (2), S-3/A (2), SCHEDULE 13D/A (2), 3/A (1), 8-A12B (1), CERT (1), DEF 14C (1), NTN 10Q (1), POS AM (1), PRE 14C (1), REGDEX/A (1), SB-2 (1), SC 14F1 (1)
- Latest filingsAnnual report (10-K) Mar 13, 2026
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Apr 30, 2026
Latest 8-K (8-K) Sep 16, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock $0.001 par value | EP | NYSE American |
From the cover page of the 10-K filed Mar 13, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks EMPIRE PETROLEUM CORP names in Item 1A of its 10-K filed Mar 13, 2026: 47 risks under these headings, as written.4
- The Standardized Measure of estimated reserves may not be accurate estimates of the current fair value of estimated proved oil and natural gas reserves.
- Estimates of proved reserves and future net cash flows are not precise. The actual quantities of our proved reserves and future net cash flows may prove to be lower than estimated.
- Unless reserves are replaced, production and estimated reserves will decline, which may adversely affect our financial condition, results of operations and/or cash flows.
- New technologies may cause our exploration and development methods to become obsolete, causing an adverse effect on our production.
- We have indebtedness and may incur substantially more debt. Higher levels of indebtedness make us more vulnerable to economic downturns and adverse business developments.
- Our business requires substantial capital expenditures. Management may be unable to obtain needed capital or financing on satisfactory terms or at all, which could lead to a decline in oil and natural gas reserves.
- The loss or unavailability of capital provided by our two largest stockholders could have a material adverse effect on our business.
- If we are unable to comply with the covenants in our agreements governing our indebtedness, including the Credit Facility, there could be a default under the terms of such agreements, which could result in an acceleration of payment of funds that we have borrowed.
- We may not be able to generate cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations.
- A negative shift in stakeholder sentiment towards the oil and natural gas industry and increased attention to ESG matters and conservation matters could adversely affect our ability to raise equity and debt capital.
- General Operations
- Liquidity and capital constraints could adversely affect our operations and financial conditions.
The other 36 risks
- We have a present need for additional funding to satisfy current operational obligations, which raises questions about our ability to continue as a going concern. We may be unable to raise capital when needed, which would force us to delay, reduce or eliminate aspects of our business or cause our business to fail.
- A substantial or extended decline in oil and natural gas prices may adversely affect our business, financial condition or results of operations and our ability to meet our capital expenditure obligations and financial commitments.
- Competition for assets, materials, people and capital can be significant.
- Our producing properties and proved reserves are concentrated in New Mexico, North Dakota, Montana, Texas, and Louisiana, making us vulnerable to risks associated with operating in limited major geographic areas.
- A significant portion of our oil, natural gas, and NGLs sales are concentrated in only a few purchasers, which increases our exposure to substantial sales interruptions.
- Our insurance policies may not adequately protect us against certain unforeseen risks.
- Hedging transactions may expose us to risk of financial loss or limit participation in commodity price increases and involve other risks.
- If forecasted prices for oil, natural gas, and NGLs decrease, we may be required to take significant future write-downs of the financial carrying values of our properties in the future.
- We are subject to various environmental risks, and governmental regulation relating to environmental matters.
- Properties we acquire may not produce as projected and we may be unable to determine reserve potential, identify liabilities associated with the properties that we acquire or obtain protection from sellers against such liabilities.
- Many of our properties are in areas that may have been partially depleted or drained by offset wells and certain of our wells may be adversely affected by actions we or other operators may take when drilling, completing, or operating wells that we or they own.
- Acquisitions involve a number of risks, including the risk that we will discover unanticipated liabilities or other problems associated with the acquired business or property.
- We may not realize an adequate return on oil and natural gas investments.
- Our operations are subject to a series of risks arising out of the threat of climate change that could result in increased operating costs, limit the areas in which we may conduct oil, natural gas, and NGLs exploration and production activities, and reduce demand for the oil, natural gas, and NGLs we produce.
- The marketability of our production is dependent upon gathering systems, transportation facilities and processing facilities that we do not own or control. If these facilities or systems are unavailable, our oil and natural gas production can be interrupted and our revenues reduced.
- We operate or participate in oil and natural gas leases with third-parties who may not be able to fulfill their commitments to our projects.
- Because we cannot control activities on properties we do not operate, we cannot directly control the timing of exploration. If we are unable to fund required capital expenditures with respect to non-operated properties, our interests in those properties may be reduced or forfeited.
- We could be adversely affected by increased costs of service providers utilized by us.
- Our ability to use our existing net operating loss carryforwards or other tax attributes could be further limited.
- The credit risk of our counterparties could adversely affect us.
- Unexpected events could disrupt our business and adversely affect our results of operations.
- Climate change legislation, regulations restricting emissions of GHG’s or legal or other action taken by public or private entities related to climate change could result in increased operating costs and reduced demand for the oil and natural gas that we produce.
- Any change to government regulation or administrative practices may have a negative impact on our ability to operate and our profitability.
- We are subject to complex federal, state, local and other laws and regulations that could adversely affect the cost, manner or feasibility of conducting our operations or expose us to significant liabilities.
- Liability for cleanup costs, natural resource damages and other damages arising as a result of environmental laws and regulations could be substantial and could have a material adverse effect on our business, results of operations, and financial condition.
- A cyber incident could result in information theft, data corruption, operational disruption and/or financial loss.
- We face risks associated with Artificial Intelligence and other emerging technologies.
- The loss or unavailability of any of our executive officers or other key employees could have a material adverse effect on our business.
- The price of our common stock may fluctuate significantly, which could negatively affect us and the holders of our common stock.
- We do not expect to declare or pay any dividends in the foreseeable future.
- Provisions of our certificate of incorporation and bylaws and Delaware law may inhibit a takeover, which could limit the price investors might be willing to pay in the future for our common stock.
- We are a smaller reporting company and benefit from certain reduced governance and disclosure requirements, including that which our independent registered public accounting firm is not required to attest to the effectiveness of our internal control over financial reporting. We cannot be certain if the omission of reduced disclosure requirements applicable to smaller reporting companies will make our common stock less attractive to investors.
- Regulatory requirements applicable to smaller reporting companies may become increasingly burdensome as our operational scale grows and filing status changes.
- Holders of our outstanding Series A Voting Preferred Stock have effective control of our board of directors.
- A small number of stockholders own a significant amount of our common stock and may have influence over the Company.
- Our bylaws provide that the Court of Chancery of the State of Delaware (or if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) will be the exclusive forum for certain legal actions between us and our stockholders. These provisions could increase costs to bring a claim, discourage claims or limit the ability of our stockholders to bring a claim in a judicial forum viewed by the stockholders as more favorable for disputes with us or our directors, officers or employees.
Legal proceedings
For information regarding legal proceedings, see Note 14 in our consolidated financial statements.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARMichael R. Morrisett, President
- 17SEC EDGARAlbert E. Whitehead, President
- 18
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- 23SEC EDGARJ. Kevin Vann, Board member
- 24SEC EDGARPhil E. Mulacek, Board member
- 25SEC EDGARMason H. Matschke, Board member
- 26SEC EDGARThomas W. Pritchard, Board member
- 27SEC EDGARTony Kamin, Board member
- 28SEC EDGARKevin R. Seth, Board member
- 29SEC EDGARJohn C. Kinard, Board member
- 30SEC EDGARMontague H. Hackett, Board member
- 31
- 32SEC EDGARResults of operations
- 33
- 34SEC EDGARResults of operations
- 35SEC EDGAREntered a material agreement
- 36SEC EDGAROther events
- 37SEC EDGAROther events
- 38SEC EDGARResults of operations
- 39SEC EDGAROther events
- 40
- 41SEC EDGAROther events
- 42SEC EDGAROther events
- 43NasdaqNasdaq calendar
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