Empire Petroleum Q1 Loss $0.18 Share

Empire Petroleum posted Q1 2026 loss of $0.18 per share, total revenue $5.1 million and product revenue $7.7 million, down 15% YoY.
Net production averaged 1,880 boe/d, an 8% YoY decline, with oil output 1,248 barrels/d, impacted by operational and weather issues.
Adjusted EBITDA fell to -$0.7 million versus -$0.6 million last year; company raised $10 million via rights offering and settled a $3 million convertible note.
Cash stood at $8.8 million with $2.7 million available under its credit facility as of March 31, 2026.