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EPEMPIRE PETROLEUM CORPORATION

Is Empire Petroleum struggling financially?

Yes, by its own account. Empire Petroleum told the SEC on 14 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

30/100

Fragile

Sector
Energy/Materials
Market cap
$136.0M
Source filing
10-Q 14 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 7months

    If the burn speeds up

    Empty by Jan 2027

  • 11months

    If it eases off

    Empty by May 2027

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$3.1M

÷

Cash burned over the last 12 months

$4.0M

What Empire Petroleum told the SEC

…sufficiently meet the Company’s obligations for the next 12 months. Given the negative working capital and insufficient expected operating cash flow there is substantial doubt about the Company’s ability to continue as a going concern. Empire has committed financial support from Mr. Mulacek who owns approximately 29.1 % of our common stock outstanding as of March 31, 2026, and Energy Evolution Master Fund, Ltd.…

EMPIRE PETROLEUM CORPORATION, Form 10-Q, filed 14 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 14.2% share-count increase The company issued stock. Each share now owns 12.5% less of the business than a year ago, before any change in the price.

Other Energy/Materials companies that filed the doubt