Empire Petroleum reported a net loss of $3.6 million, or $0.12 per share, for the third quarter, consistent with the net loss of $2.7 million, or $0.12 per share, from a year earlier. The adjusted net loss per share stood at $0.12, a decrease from last year’s $0.06. Total product revenue rose to $10.9 million from $10.3 million in the previous year's equivalent period. The company attributed this revenue growth to increased sales volumes of oil, natural gas, and natural gas liquids (NGLs), though these gains were significantly offset by lower realized prices for oil and natural gas.
During the third quarter, Empire Petroleum reported net production volumes of 2,460 barrels of oil equivalent per day, which included 1,573 barrels of oil per day.
