Energy Evolution Master Fund, Ltd. filed a statement of changes in beneficial ownership with the SEC on October 27, 2026, reporting an in-kind distribution of 514,064 shares of Empire Petroleum Corp common stock to certain of its investors on October 23, 2026.

Key Highlights

  • Reporting person: Energy Evolution Master Fund, Ltd., identified as a 10% owner of Empire Petroleum Corp (NYSE:EP), based in The Woodlands, Texas.
  • Transaction: 514,064 shares of Empire Petroleum Corp common stock were disposed of via an in-kind distribution to certain investors of the fund, at a price of $0.
  • Transaction date: October 23, 2026, with the filing submitted on October 27, 2026.
  • Transaction code: J, reflecting an in-kind distribution rather than an open-market sale.
  • Remaining ownership: Following the transaction, Energy Evolution Master Fund, Ltd. reported direct beneficial ownership of 11,695,889 shares of Empire Petroleum Corp common stock.
  • Signatory: The filing was signed by Sterling Mulacek, Director, on behalf of Energy Evolution Master Fund, Ltd.

Energy Evolution Master Fund Reduces Empire Petroleum Stake Through In-Kind Distribution

According to the filing, Energy Evolution Master Fund, Ltd. disposed of 514,064 shares of Empire Petroleum Corp common stock on October 23, 2026, through a transaction coded "J," which the filing's footnote describes as "an in-kind distribution of these shares of the Issuer to certain of its investors for no consideration." The shares were disposed of at a stated price of $0, meaning no cash changed hands in connection with the transaction.

The filing identifies Energy Evolution Master Fund, Ltd. as a 10% owner of Empire Petroleum Corp, which trades on the NYSE under the ticker symbol EP. Empire Petroleum Corp is an oil and gas company. Following the reported distribution, the fund reported direct beneficial ownership of 11,695,889 shares of Empire Petroleum Corp common stock. No derivative securities were reported as acquired, disposed of, or beneficially owned in Table II of the filing.

The filing was signed by Sterling Mulacek, identified as a Director of Energy Evolution Master Fund, Ltd., and submitted to the SEC on October 27, 2026. The filing indicates it was made by one reporting person and does not reflect an amendment to a prior filing.

What Was Disclosed

Energy Evolution Master Fund, Ltd. reported disposing of 514,064 shares of Empire Petroleum Corp common stock on October 23, 2026, via an in-kind distribution to certain fund investors at no consideration, leaving the fund with direct beneficial ownership of 11,695,889 shares.