Empire Petroleum Corp Q2 2025 Earnings: Revenue Down 32%, EPS at ($0.15)

Empire Petroleum Corp reported Q2 2025 earnings with EPS at ($0.15) and revenue at $8.7 million, a decrease from Q2 2024. The company faced challenges due to a significant drop in commodity prices, impacting revenue and margins despite operational gains. Empire's net loss for Q2 2025 was $5.1 million, or ($0.15) per diluted share, compared to a net loss of $4.4 million in Q2 2024.

Empire Petroleum Corp (EP) reported its second-quarter (Q2) 2025 earnings, showcasing a challenging period marked by a significant drop in commodity prices. The company's earnings per share (EPS) stood at -$0.15, and total revenue was $8.7 million, a decrease from $12.8 million in the same quarter last year [2].

Despite a 15% increase in net equivalent sales to 2,357 barrels of oil equivalent per day (Boe/d), the company's financial results were negatively impacted by a 23% decrease in realized oil prices compared to Q2 2024. This decline, along with a 14% decrease in natural gas liquids (NGLs) prices, contributed to a net loss of $5.1 million for Q2 2025, compared to a net loss of $4.4 million in Q2 2024 [2].

Operational highlights for Q2 2025 included an increase in net production volumes by 15% compared to the first quarter (Q1) 2025, driven by enhanced oil recovery (EOR) efforts in North Dakota. The company also made significant progress in its development plans in Texas, with the first drilling pad completed and drilling operations expected to commence in Q4 2025 [2].

Empire Petroleum's Chairman, Phil Mulacek, expressed optimism about the company's long-term potential, attributing the current market conditions to temporary global and seasonal factors. He expects a rebound in commodity prices over the next six to nine months, positioning the company to benefit from this upswing [2].

The company also launched a subscription rights offering to raise approximately $5.0 million in gross proceeds, with proceeds expected to be used for balance sheet optimization and general corporate purposes. The rights offering is set to expire on August 18, 2025 [2].

In summary, Empire Petroleum Corp faced financial challenges in Q2 2025 due to a significant drop in commodity prices, resulting in a decrease in revenue and an increase in net loss. However, the company remains focused on executing its development plans and maintaining cost discipline to capitalize on a potential pricing recovery.

References:
[1] Reuters. (2025, August 13). Empire Petroleum Q2 net income USD 5.056 million. Retrieved from https://www.tradingview.com/news/reuters.com,2025-08-13:newsml_PLX5789E0:0-brief-empire-petroleum-q2-net-income-usd-5-056-million/
[2] The Globe and Mail. (2025, August 13). Empire Petroleum reports results for second quarter 2025 and demonstrates operational momentum. Retrieved from https://www.theglobeandmail.com/investing/markets/markets-news/Business%20Wire/34126956/empire-petroleum-reports-results-for-second-quarter-2025-and-demonstrates-operational-momentum/