SeeBITDAOklahoma

Empire Petroleum Corporation

Oil & gas
  • 2200 S Utica Pl Ste 150, Tulsa, OK
  • Since 1983
Public company · EP
Reported revenueReported figures
$34.2M
$32.5Mlikely range$35.9M
Revenue
$34.2M
a year
Profit (EBITDA)
$-60.7M
-178% of revenue
Employees
—
not reported
Michael Morrisett
President · source
empirepetroleumcorp.comLinkedIn
Contact
Find Michael Morrisett on RocketReach Request removal or correction

How we got $34.2M

Based on SEC filings (FY2025).

Reported revenue, SEC filings (FY2025)$34.2M
Profit (EBITDA)$-60.7M

· Own this business? Correct these figures

What we know

No PPP loan
No 401(k) filing
Reported financials
Company website
Owner named

What they do

Empire Petroleum Corporation is a conventional oil and natural gas producer focused on the US onshore, operating long-life, mature producing assets with slow decline profiles.

Products & services
well rehabilitationstimulationfield maintenance and management
Service area
Permian BasinBakken regioncentral Gulf Coast regionNew MexicoNorth DakotaMontanaLouisianaTexas

From the company's website. Industry: Oil & gas.

Compared with similar businesses nearby

BusinessEst. revenueEst. profitDistance
Empire Petroleum Corporation
this business
$34.2M$-60.7M—
Bcf Minerals
Tulsa
$1.5M$499K0.0 mi
RAM ENERGY LLC
Tulsa · 24 employees
$13.2M$3.2M0.2 mi
DAVIS OPERATING COMPANY
Tulsa · 4 employees
$2.2M$656K0.3 mi
Brigadier Oil & Gas
Tulsa
$1.5M$499K0.5 mi
GOLDEN GAS SERVICE COMPANY
Tulsa · 3 employees
$2.2M$656K0.6 mi
Huntington Resources, Inc.
Tulsa
$1.5M$499K0.6 mi

The full calculation

Figures are shown toward the upper part of their range rather than at its middle.

Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.

These are the business's own reported figures, from its SEC annual report (10-K), not an estimate.

Revenue range$32.5M – $35.9M
EBITDA range$-57.7M – $-63.8M
Industry (NAICS)Support Activities for Oil and Gas Operations (213112)

EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.

Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Listing details come from Overture Maps open data. Full methodology

People & advisors

Founded 1983
“Empire Petroleum was initially incorporated in 1983, and later domesticated in Delaware..”

Leadership

  • PM
    Phil Mulacek
    Chairman of the Board · Company website · source
  • MM
    Mason Matschke
    Director · Company website · source
  • AL
    Andrew Lewis
    Director · Company website · source
  • BM
    Ben Marchive II
    Director · Company website · source
  • KV
    Kevin Vann
    Director · Company website · source
  • WW
    William West
    Senior Vice President of Operations · Company website · source

From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.

Public records

SEC filings
Public company · EP
Revenue (FY2025)$34.2M
EBITDA$-60.7M
Net income$-72.1M
Total assets$65.9M

Matched to this business by name and address from public government data; a match can occasionally be wrong.

About Empire Petroleum Corporation

Empire Petroleum Corporation is an oil & gas company in Tulsa, Oklahoma, in business since 1983. It is owned by Michael Morrisett (President). Its reported annual revenue is about $34.2M, with roughly $-60.7M of EBITDA.

Common questions

Who owns Empire Petroleum Corporation?
Empire Petroleum Corporation is owned by Michael Morrisett (President), according to public sources such as the company's website or filings.
How much revenue does Empire Petroleum Corporation make?
Empire Petroleum Corporation reported revenue of about $34.2M.
When was Empire Petroleum Corporation founded?
Empire Petroleum Corporation has been in business since 1983.