Empire Petroleum (NYSE: EP) takes 25% stake in Louisiana well, pays with stock
Rhea-AI Filing Summary
Empire Petroleum Corporation has elected to participate in a new three-well oil and natural gas development program in Louisiana. The company will hold a 25% working interest in the initial well, with its share of drilling and completion costs funded through the issuance of approximately 700,000 shares of common stock.
The initial well in the East Perkins Field in Calcasieu Parish targets proven hydrocarbon-bearing formations where logs, cores and strong reservoir pressure have confirmed both liquid and gas hydrocarbons. Completion operations on the first well are expected to begin in April 2026, followed by initial production testing and potential follow-on development at two additional locations within the same structural trend.
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Insights
Empire trades equity for a new Louisiana development stake.
Empire Petroleum is committing to a Louisiana three-well development program by taking a 25% working interest in the first well. Instead of paying cash, it will fund its share of drilling and completion costs through issuing about 700,000 common shares.
This approach shifts some near-term capital burden from the balance sheet to shareholders via equity, while adding exposure to a higher-pressured reservoir where logs, cores and flaring confirm hydrocarbons. Actual returns will depend on the oil-to-gas mix and well performance once completed.
Completion operations on the initial well are expected to start in April 2026, with production testing thereafter. Subsequent updates on test results and any decisions to drill the two additional locations in the broader prospect area will clarify the development’s contribution to Empire’s production and reserves.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM
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Current Report
Pursuant To Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
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(Exact name of registrant as specified in its charter)
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| (State or Other Jurisdiction | (Commission | (I.R.S. Employer |
| of Incorporation) | File Number) | Identification No.) |
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock $0.001 par value |
EP |
NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01. | Other Events. |
On March 18, 2026, Empire Petroleum Corporation issued a press release announcing it has elected to participate in a new oil and natural gas development program in Louisiana. A copy of the press release is filed herewith as Exhibit 99.
This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. | |
| The following exhibits are filed or furnished herewith. | ||
Exhibit Number
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Description |
| 99 | Press Release of Empire Petroleum Corporation dated March 18, 2026.
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| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EMPIRE PETROLEUM CORPORATION
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| Date: March 18, 2026 | By: | /s/ Michael R. Morrisett | |
Michael R. Morrisett President and Chief Executive Officer |
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EXHIBIT 99
EMPIRE PETROLEUM ANNOUNCES PARTICIPATION IN LOUISIANA OIL AND NATURAL GAS DEVELOPMENT PROGRAM
TULSA, OK – (MARCH 18, 2026) – Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today announced it has elected to participate in a new oil and natural gas development program in Louisiana that represents a meaningful addition to the Company’s ongoing development activities.
Empire has completed its due diligence and elected to participate in a three-well development program targeting proven formations in Louisiana. While the program targets hydrocarbon-bearing formations, the actual oil-to-gas mix will be established through ongoing development. As part of its participation, Empire will hold a 25% working interest in the initial well, with the Company’s portion of drilling and completion costs funded through the issuance of approximately 700,000 shares of Empire common stock. The Company believes the opportunity aligns with its focus on developing projects with solid economic fundamentals and manageable capital requirements.
The operator recently drilled, cored, and logged the initial test location in Louisiana and transmitted to Empire detailed subsurface data supporting a completion decision. Based on the operator’s subsurface evaluation and analysis (logs and core data), the interval includes several productive sand zones, and core samples confirmed liquid and gas hydrocarbons. The well had a solid hydrocarbon flare while holding over 9,100 psi (pounds per square inch) of back pressure with 16.5+ lb/gal drilling mud, demonstrating strong reservoir pressure. The test location lies within the East Perkins Field in Calcasieu Parish, Louisiana, in a portion of the reservoir that sits higher in the formation than nearby legacy production.
Completion operations on the initial well are expected to begin in April 2026, with initial production testing to follow. The well represents the first development opportunity within a broader prospect area that includes two more locations, which together offer additional potential development targets within the same structural trend.
“This opportunity aligns with the kind of development work that complements our existing operations,” said Mike Morrisett, President & CEO of Empire. “We appreciate the comprehensive technical work completed to date and look forward to participating in the next phase of this development. This participation also opens the opportunity to evaluate potential future midstream-adjacent opportunities that could, over time, provide stable and recurring cash flow.”
The Louisiana program supports Empire’s ongoing efforts to grow production and reserves through selective development of established resource areas. Additional updates will be provided as the operations progress.
ABOUT EMPIRE PETROLEUM
Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana. Management is focused on organic growth and targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. More information about Empire can be found at www.empirepetroleumcorp.com.
SAFE HARBOR STATEMENT
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s estimates, strategy, and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2025, and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, future commodity prices, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, including inflation, tariffs and interest rates, uncertainties associated with legal and regulatory matters, successful completion of the Company’s rights offering commenced in February 2026, and other risks and uncertainties related to the conduct of business by the Company. Other than as required by applicable securities laws, the Company does not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations, or otherwise.
CONTACTS
Empire Petroleum Corporation
Mike Morrisett
President & CEO
539-444-8002
Info@empirepetrocorp.com
Kali Carter
Communications & Investor Relations Manager
918-995-5046
IR@empirepetrocorp.com
FAQ
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Filing Exhibits & Attachments
4 documents