Empire Petroleum Q2 revenue jumps on pricing
EP•Outlook and operating drivers
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Empire expects Texas development to build momentum in H2-2026 with more wells coming online
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Company anticipates revenue from Louisiana program for the remainder of 2026
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Empire expects to initiate steam injection in North Dakota in Q3-2026 and monitor performance
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Higher realized oil pricing was the main driver of revenue growth, partially offset by lower production volumes
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Additional wells brought online and infrastructure upgrades in Texas and Louisiana supported steady increases in oil and gas volumes, per CEO Mike Morrisett
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Lease operating expenses fell due to lower production and company efforts to reduce operating costs, though workover expenses increased in New Mexico
Q2 revenue rises as higher oil prices offset lower production
- U.S. oil and gas producer's Q2 revenue rose 27% yr/yr despite a 23% drop in production
- Net loss narrowed to $1.9 mln from $5.1 mln a year earlier
- Adjusted EBITDA turned positive at $0.4 mln versus negative $1.2 mln in Q2 2025
