EMPIRE PETROLEUM CORP (EP)

NYSE · Common Stock · Crude Petroleum & Natural Gas

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

14 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-13 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of EMPIRE PETROLEUM CORP as disclosed in its SEC filing
Entity	Jurisdiction	Note
Empire Louisiana LLC	Delaware
Empire New Mexico LLC	Delaware
Empire EMSU LLC	Delaware
Empire EMSU-B LLC	Delaware
Empire AGU LLC	Delaware
Empire NM Assets LLC	Delaware
Empire North Dakota LLC	Delaware
Empire ND Acquisition LLC	Delaware
Empire Northwest Shelf LLC	Delaware
Empire Texas LLC	Delaware
Empire Texas Development LLC	Delaware
Empire Texas GP LLC	Texas
Empire Texas Operating LLC	Texas
Pardus Oil & Gas Operating, LP	Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

2 / 7

FAILReturn on assets positiveROA -109.4%
FAILOperating cash flow positiveOCF -4M
FAILReturn on assets improving-13.1% → -109.4%
PASSCash flow exceeds earningsOCF -4M vs NI -72M
FAILLong-term debt ratio fallingno debt reported
FAILCurrent ratio improving0.58 → 0.34
FAILNo share dilution30M → 34M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.35× → 0.52×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$7.7M	−$16.8M	—	—	—
FY2021	$27.9M	−$18.6M	—	—	14,630,168
FY2022	$52.9M	$7.1M	—	—	23,387,646
FY2023	$40.1M	−$12.5M	—	—	22,718,890
FY2024	$43.7M	−$16.2M	—	—	30,064,856
FY2025	$34.2M	−$72.1M	—	—	34,056,054

Ownership flow

1 institutions tracked — 0 added, 1 reduced.

Institutional holders of EMPIRE PETROLEUM CORP and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	238,289	−189,933	$638,968

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0000887396
FIGI: BBG000BBS3H7
SIC: 1311 · Crude Petroleum & Natural Gas
Incorporated: DE
Headquarters: TULSA, OK

Ownership

Institutional: 5.5%
Institutions: 49
Insiders: 60.3%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other crude petroleum & natural gas companies

EMPIRE PETROLEUM CORP files under SIC 1311 — all 27 crude petroleum & natural gas companies compared on assets and F-score.

OCCIDENTAL PETROLEUM CORP /DE/OXY EOG RESOURCES INCEOG EQT CorpEQT DEVON ENERGY CORP/DEDVN Chord Energy CorpCHRD Crescent Energy CoCRGY

Questions about EMPIRE PETROLEUM CORP

How many subsidiaries does EMPIRE PETROLEUM CORP file with the SEC?: 14, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Texas). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is EMPIRE PETROLEUM CORP financially healthy?: EMPIRE PETROLEUM CORP scores 2 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of EMPIRE PETROLEUM CORP?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

14 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-13 — see the exhibit.

Which other public companies file entities in the same places:

Delaware11 Texas3

Entity

Jurisdiction

Note

Empire Louisiana LLC

Delaware

Empire New Mexico LLC

Delaware

Empire EMSU LLC

Delaware

Empire EMSU-B LLC

Delaware

Empire AGU LLC

Delaware

Empire NM Assets LLC

Delaware

Empire North Dakota LLC

Delaware

Empire ND Acquisition LLC

Delaware

Empire Northwest Shelf LLC

Delaware

Empire Texas LLC

Delaware

Empire Texas Development LLC

Delaware

Empire Texas GP LLC

Texas

Empire Texas Operating LLC

Texas

Pardus Oil & Gas Operating, LP

Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

2 / 7

FAILReturn on assets positiveROA -109.4%
FAILOperating cash flow positiveOCF -4M
FAILReturn on assets improving-13.1% → -109.4%
PASSCash flow exceeds earningsOCF -4M vs NI -72M
FAILLong-term debt ratio fallingno debt reported
FAILCurrent ratio improving0.58 → 0.34
FAILNo share dilution30M → 34M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.35× → 0.52×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$7.7M

−$16.8M

—

FY2021

$27.9M

−$18.6M

—

14,630,168

FY2022

$52.9M

$7.1M

—

23,387,646

FY2023

$40.1M

−$12.5M

—

22,718,890

FY2024

$43.7M

−$16.2M

—

30,064,856

FY2025

$34.2M

−$72.1M

—

34,056,054

Ownership flow

1 institutions tracked — 0 added, 1 reduced.

Institutional holders of EMPIRE PETROLEUM CORP and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	238,289	−189,933	$638,968

Questions about EMPIRE PETROLEUM CORP

How many subsidiaries does EMPIRE PETROLEUM CORP file with the SEC?

14, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Texas). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is EMPIRE PETROLEUM CORP financially healthy?

EMPIRE PETROLEUM CORP scores 2 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of EMPIRE PETROLEUM CORP?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.