Why These Energy Stocks are Gaining This Week

3. Empire Petroleum Corporation (NYSEAMERICAN:EP)

Share Price Gains Between Nov 14 – Nov 21: 13.99%

Empire Petroleum Corporation (NYSE:EP) is a conventional oil and natural gas producer with a primary focus on US onshore operations.

Empire Petroleum Corporation (NYSE:EP) bounced back from its 52-week low after announcing its third-quarter results on November 17, with the company reporting an adjusted EBITDA of $137,000, up 112% QoQ and 345% YoY. Empire’s net equivalent sales also increased by 2% sequentially to 2,398 Boe/d, while net loss decreased by 24% QoQ to $3.84 million. Moreover, as of September 30, the company had approximately $4.6 million in cash on hand, up from $2.29 million on June 30.

Mike Morrisett, President and CEO of Empire Petroleum Corporation (NYSE:EP), stated the following in the company’s Q3 earnings call:

“Our third quarter results reflect steady operational execution and focused progress across Empire’s core assets. In North Dakota, recent upgrades and system enhancements have improved reliability and consistency, setting the stage for stable production levels. In Texas, we continue to prepare for the launch of our first drilling program in the area, completing pre-drill activities and advancing readiness across multiple locations. In New Mexico, we’re maintaining production and pursuing incremental improvements to maximize efficiency across our legacy unitized assets. The strong participation in our Rights Offering reflects continued confidence in Empire’s direction, and we’re deeply appreciative of that support as we work to execute on our development plan. With disciplined capital management and a clear operational roadmap, Empire is entering 2026 with momentum, flexibility, and a focused path toward scalable growth.”

Despite recent gains, Empire Petroleum Corporation’s (NYSE:EP) share price has fallen by almost 55% since the beginning of 2025.