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Empire Petroleum ( (EP) ) has provided an announcement.
On December 29, 2023, Empire North Dakota LLC and Empire ND Acquisition LLC, wholly owned subsidiaries of Empire Petroleum Corporation, entered into a secured revolving credit facility with Equity Bank with an initial commitment of $10 million, a maximum of $15 million, monthly commitment reductions beginning January 31, 2024, semiannual borrowing base redeterminations starting March 31, 2024, and a final maturity date initially set for December 29, 2026, with borrowings bearing interest at prime plus 1.50% (not less than 8.50%) and backed by liens on substantially all of the borrowers’ assets, including at least 80% of their producing oil and gas interests in North Dakota and Montana. The facility, guaranteed by Empire Petroleum, was subsequently expanded and extended through amendments: on November 18, 2024, the maximum revolver commitment was increased to $20 million and the monthly reduction stepped up to $250,000 from December 31, 2024; on June 18, 2025, Empire Texas Development LLC was added as a third borrower and its assets were pledged as collateral; and on December 29, 2025, the final maturity date was extended to December 29, 2028, a replacement note and updated security agreements were delivered, and the borrowers paid a $50,550 extension fee, collectively reinforcing the company’s access to secured debt capital for its oil and gas operations over a longer horizon.
The most recent analyst rating on (EP) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Empire Petroleum stock, see the EP Stock Forecast page.
Spark’s Take on EP Stock
According to Spark, TipRanks’ AI Analyst, EP is a Neutral.
Empire Petroleum’s overall stock score is significantly impacted by its poor financial performance, characterized by declining revenues and negative profitability. The technical analysis indicates a bearish trend, further weighing on the score. Valuation metrics are unfavorable, with a negative P/E ratio and no dividend yield, making the stock less attractive to investors.
To see Spark’s full report on EP stock, click here.
More about Empire Petroleum
Empire Petroleum Corporation operates through subsidiaries including Empire North Dakota LLC and Empire Texas Development LLC, holding producing oil, gas and other leasehold and mineral interests, notably in North Dakota and Montana, and using secured credit facilities to finance its upstream energy operations.
Average Trading Volume: 39,021
Technical Sentiment Signal: Sell
Current Market Cap: $106M
For an in-depth examination of EP stock, go to TipRanks’ Overview page.