Empire Petroleum Sees Growth in Q2 Production Amid Expanding Drilling Activities

Empire Petroleum Corporation (NYSE American: EP) released its financial results for the second quarter of 2026, showcasing a net production volume of 1,825 barrels of oil equivalent per day. This includes 1,278 barrels of oil per day and is comprised of 70% oil, 18% natural gas liquids, and 12% natural gas.

The company has been actively expanding its Texas development and drilling activities with the arrival of a new drilling rig in June. Empire has strategically invested in field infrastructure and gas compression over the past two quarters to eliminate the risk of stranded gas and increase system throughput.

Five wells were placed online through reactivations, recompletions, and well-deepening activities during the quarter, while four additional wells advanced toward first production. The company's deep-target evaluation progressed successfully, with a notable achievement in logging open-hole intervals across multiple formations to a depth of 21,006 feet.

Empire also made progress on its second-generation thermal recovery operations in North Dakota and continued upgrades to surface production facilities. In Louisiana, the company advanced its participation in an oil and natural gas development program through amended terms, with wells being drilled and logged across three wells, confirming substantial sand development.