--- title: "Empire Petroleum | 10-K: FY2025 Revenue: USD 34.2 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/283958890.md" datetime: "2026-04-24T08:20:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283958890.md) - [en](https://longbridge.com/en/news/283958890.md) - [zh-HK](https://longbridge.com/zh-HK/news/283958890.md) --- # Empire Petroleum | 10-K: FY2025 Revenue: USD 34.2 M Revenue: As of FY2025, the actual value is USD 34.2 M. EPS: As of FY2025, the actual value is USD -2.12. EBIT: As of FY2025, the actual value is USD -69.77 M. Empire Petroleum Corporation operates as a single reportable segment . #### Revenue Total Product Revenues decreased to $34,162 thousand in 2025 from $43,992 thousand in 2024 . Oil Sales were $31,648 thousand in 2025, down from $41,515 thousand in 2024 . Gas Sales increased to $898 thousand in 2025 from $344 thousand in 2024 . Natural Gas Liquids Sales decreased to $1,616 thousand in 2025 from $2,133 thousand in 2024 . Total Revenue for 2025 was $34,203 thousand, a decrease from $43,650 thousand in 2024 . #### Operational Metrics Operating Loss increased to - $71,315 thousand in 2025 from - $13,666 thousand in 2024 . Net Loss increased to - $72,074 thousand in 2025 from - $16,198 thousand in 2024 . Total Cost and Expenses for 2025 were $105,518 thousand, compared to $57,316 thousand in 2024 . Impairment was $51,289 thousand in 2025, with no impairment recorded in 2024 . Lease Operating Expense decreased to $25,223 thousand in 2025 from $27,545 thousand in 2024 . Workover expense was approximately $2.2 million in 2025, down from approximately $5.9 million in 2024 . Production and Ad Valorem Taxes decreased to $2,854 thousand in 2025 from $3,770 thousand in 2024 . Depreciation, Depletion & Amortization increased to $10,595 thousand in 2025 from $9,256 thousand in 2024 . General and Administrative (excluding stock-based compensation) decreased to $11,995 thousand in 2025 from $12,582 thousand in 2024 . Stock-Based Compensation decreased to $1,423 thousand in 2025 from $2,156 thousand in 2024 . Cash-Based Interest Expense increased to $1,320 thousand in 2025 from $894 thousand in 2024 . Non-Cash Interest Expense decreased to $227 thousand in 2025 from $621 thousand in 2024 . #### Production and Operating Data per Boe Average Price per Unit was $41.75 in 2025, down from $49.76 in 2024 . Total Lease operating expense per Boe was $30.83 in 2025, slightly down from $31.16 in 2024 . Depreciation, depletion, amortization and accretion per Boe increased to $15.56 in 2025 from $12.74 in 2024 . General and administrative per Boe (total) was $16.40 in 2025, down from $16.67 in 2024 . #### Net Production Volumes Total production (Boe) decreased to 818,303 in 2025 from 884,076 in 2024 . Oil (Bbl) production decreased to 524,646 in 2025 from 581,159 in 2024 . Natural gas (Mcf) production decreased to 860,599 in 2025 from 916,955 in 2024 . Natural gas liquids (Bbl) production slightly increased to 150,224 in 2025 from 150,091 in 2024 . #### Reserves Proved developed reserves (MBoe) decreased to 7,625 at December 31, 2025, from 9,227 at December 31, 2024 . Oil (MBbls) proved developed reserves were 5,878 at December 31, 2025, down from 7,001 at December 31, 2024 . Natural Gas (MMcf) proved developed reserves were 4,300 at December 31, 2025, down from 6,064 at December 31, 2024 . NGLs (MBbls) proved developed reserves were 1,030 at December 31, 2025, down from 1,215 at December 31, 2024 . #### Cash Flow Net Cash Used In Operating Activities was - $3,946 thousand in 2025, compared to $6,157 thousand provided by operating activities in 2024 . Net Cash Used In Investing Activities was - $4,613 thousand in 2025, a significant decrease from - $53,870 thousand in 2024 . Net Cash Provided By Financing Activities was $7,497 thousand in 2025, down from $42,171 thousand in 2024 . Cash - End of Period was $1,189 thousand at December 31, 2025, compared to $2,251 thousand at December 31, 2024 . #### Other Key Financials Working Capital was - $16,162 thousand at December 31, 2025, a decrease from - $8,919 thousand at December 31, 2024 . Total Indebtedness was approximately $16.2 million at December 31, 2025 . Capital Expenditures for Oil and Natural Gas Properties were - $4,754 thousand in 2025, significantly lower than - $53,219 thousand in 2024 . #### Outlook / Guidance Empire Petroleum Corporation anticipates needing additional funding to satisfy outstanding payables and fund continued capital projects to achieve positive cash flow and profitability . The company expects to have negative working capital for the next 12 months, and future expected operating cash flows are insufficient to meet its obligations . However, management believes committed financial support from its two largest stockholders will allow the company to meet its obligations and alleviate substantial doubt about its ability to continue as a going concern . ### Related Stocks - [EP.US](https://longbridge.com/en/quote/EP.US.md) ## Related News & Research - [Top 3 Energy Stocks Which Could Rescue Your Portfolio In May](https://longbridge.com/en/news/287199987.md) - [Datanomics: Modi's visit may further boost trade ties with five countries](https://longbridge.com/en/news/286915978.md) - [Apollo Hospitals posts 36% jump in Q4 net profit to Rs 529 crore](https://longbridge.com/en/news/287081683.md) - [Under Armour Charts Cautious Path to Profitability](https://longbridge.com/en/news/286688532.md) - [Why Marvell Technology Stock Is Moving On Up](https://longbridge.com/en/news/287087135.md)