Empire Petroleum Corp balance sheet
At the end of fiscal 2025, Empire Petroleum Corp had total assets of $65.9m, total liabilities of $70.5m and shareholders' equity of −$4.6m. It held $1.2m in cash against $1.7m of debt.
Balance sheet
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 0 | 0 | 0 | 0 | 4 | 12 | 8 | 2 | 1 | 3 |
| Receivables | 0 | 0 | — | 1 | 8 | 8 | 8 | 8 | 5 | 7 |
| Inventory | — | — | 0 | 1 | 1 | 2 | 1 | 1 | 1 | 1 |
| Total current assets | 0 | 0 | 2 | 2 | 13 | 23 | 19 | 12 | 8 | 12 |
| Total assets | 0 | 2 | 11 | 11 | 50 | 72 | 93 | 124 | 66 | 81 |
| Accounts payable | 0 | 0 | 1 | 2 | 4 | 6 | 16 | 10 | 11 | — |
| Total current liabilities | 0 | 1 | 2 | 6 | 12 | 18 | 25 | 21 | 24 | 28 |
| Short-term debt | — | — | — | — | 6 | 7 | 6 | 11 | 1 | 2 |
| Long-term debt | — | 1 | 8 | 1 | 1 | 4 | 5 | 11 | 1 | — |
| Total debt | 0 | 1 | 8 | 15 | 8 | 8 | 7 | 11 | 2 | 3 |
| Total liabilities | 0 | 2 | 16 | 30 | 40 | 48 | 58 | 61 | 70 | 74 |
| Shareholders' equity | 0 | −0 | −5 | −18 | 10 | 23 | 35 | 63 | −5 | 7 |
| Shares outstanding | — | — | — | 6m | — | 22m | 26m | 34m | 35m | 42m |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Receivables | 7 | 8 | 8 | 10 | 8 | 5 | 6 | 7 |
| Inventory | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Total current assets | 12 | 12 | 12 | 15 | 15 | 8 | 17 | 12 |
| Total assets | 121 | 124 | 124 | 125 | 123 | 66 | 78 | 81 |
| Accounts payable | 18 | 10 | 12 | 12 | 11 | 11 | 13 | — |
| Total current liabilities | 27 | 21 | 24 | 26 | 23 | 24 | 29 | 28 |
| Short-term debt | 9 | 11 | 12 | 17 | 0 | 1 | 1 | 2 |
| Long-term debt | 9 | 11 | 12 | 15 | 15 | 1 | — | — |
| Total debt | 17 | 23 | 24 | 32 | 16 | 2 | 1 | 2 |
| Total liabilities | 65 | 61 | 65 | 70 | 69 | 70 | 74 | 74 |
| Shareholders' equity | 57 | 63 | 59 | 55 | 54 | −5 | 4 | 7 |
| Shares outstanding | 32m | 34m | 34m | 34m | 34m | 35m | 40m | 42m |
Compare with peers
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