Empire Petroleum Stock: Growth Plans More Challenging With $70s Oil


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I’ve mentioned before that Empire Petroleum (NYSE:EP) needed to significantly increase its production to become more competitive since increased production would help reduce some of its per BOE costs.

Weaker commodity strip prices for 2023

$ Per BOE Q2 2022 Q3 2022 2023
Realized Price $84.33 $71.30 $54.00
Production Costs $28.19 $34.60 $30.00
Production and Ad Valorem Taxes $5.83 $5.42 $4.00
Cash G&A $14.32 $6.77 $7.00
Margins $35.99 $24.51 $13.00

Empire's Hedges

Empire’s Hedges (empirepetroleumcorp.com)



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