Empire Petroleum Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 13, 2026, covering the three and nine months ended on that date.

Key Highlights

  • Net loss of $3,515 thousand for the three months ended September 30, 2026, compared with a net loss of $3,844 thousand in the same period of 2025, according to the filing.
  • Nine-month net loss of $12,015 thousand ($0.30 per basic and diluted share) for the period ended September 30, 2026, versus $13,121 thousand ($0.39 per share) a year earlier.
  • Total product revenues of $10,409 thousand for Q3 2026, up from $9,374 thousand in Q3 2025, driven by oil, gas, and natural gas liquids sales.
  • Loss on derivatives of $5,038 thousand reduced nine-month total revenue to $24,177 thousand, compared with $27,144 thousand in the nine months ended September 30, 2025.
  • Total assets increased to $87,627 thousand as of September 30, 2026, from $65,873 thousand at December 31, 2025, the filing disclosed.
  • Stockholders' equity turned positive at $4,052 thousand as of September 30, 2026, compared with a deficit of $4,606 thousand at December 31, 2025.
  • 41,637,341 shares outstanding as of November 10, 2026, up from 34,855,815 at December 31, 2025, reflecting a rights offering and conversions of debt and options.

Empire Petroleum Q3 2026 Results: Revenue, Losses, and Balance Sheet Shifts

According to the filing, Empire Petroleum Corporation (NYSE American:EP) reported total product revenues of $10,409 thousand for the three months ended September 30, 2026, consisting of oil sales of $9,450 thousand, gas sales of $341 thousand, and natural gas liquids sales of $618 thousand. For the same quarter a year earlier, total product revenues were $9,374 thousand. A loss on derivatives of $835 thousand in Q3 2026 reduced total revenue for that quarter to $9,569 thousand, the company disclosed.

For the nine months ended September 30, 2026, the company reported total costs and expenses of $34,489 thousand, down from $39,552 thousand in the comparable 2025 period. Lease operating expense for the nine-month period was $16,727 thousand, versus $17,888 thousand in 2025. The company also recorded a loss on extinguishment of debt of $659 thousand in the nine months ended September 30, 2026, with no comparable item in the prior-year period, the filing stated. Interest expense for the nine months was $1,165 thousand compared with $1,018 thousand a year earlier.

On the balance sheet, the filing reported total assets of $87,627 thousand as of September 30, 2026, against $65,873 thousand at December 31, 2025. Oil and natural gas properties under the successful efforts method grew to $169,469 thousand from $148,238 thousand. Total liabilities stood at $83,575 thousand as of September 30, 2026. The accumulated deficit widened to $164,906 thousand from $152,891 thousand at year-end 2025. During the nine months, the company completed a rights offering that added 3,344,152 shares and raised net proceeds contributing $9,948 thousand to stockholders' equity, and also converted $3,000 thousand of convertible debt into 1,003,344 shares, according to the filing.

What Was Disclosed

Empire Petroleum reported Q3 and nine-month 2026 financial results, including net losses, product revenue figures, derivative losses, balance sheet changes, and share count increases resulting from a rights offering, debt conversions, and option conversions during the period.