Empire Petroleum Q3 net loss widens on lower oil, NGL prices

Empire Petroleum

17/11/2025 11:41

Overview

Empire Petroleum Q3 revenue declines 14% yr/yr due to lower oil and NGL prices

Company reports Q3 net loss widens to $3.8 mln, adjusted EBITDA improves to $0.1 mln

Empire completes rights offering, raising $2.5 mln in gross proceeds

Outlook

Empire targets 2026 for start of significant drilling operations

Empire expects natural gas to lead development strategy in 2026

Company plans to leverage drilled-but-uncompleted (DUC) wells for 2026 gas development

Result Drivers

EOR PROGRAM ENHANCEMENTS - Empire's Q3 production increase attributed to improvements in North Dakota's EOR program

DEVELOPMENT PREPARATIONS - Empire advances Texas and New Mexico development plans, positioning for 2026 growth

RIGHTS OFFERING SUCCESS - Empire raises $2.5 mln through rights offering to support strategic initiatives

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$9.37 bln
Q3 EPS
-$0.11
Q3 Adjusted Net Income
-$3.93 bln
Q3 Net Income
-$3.84 bln
Q3 Adjusted EBITDA
$137 mln


Press Release: ID:nBw9RkNjHa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)