Empire Petroleum : Increases Revolver Loan Facility with Equity Bank to $20 Million in Support of Strategic Growth Initiatives Form 8 K
Summary
TULSA, OK - (November 22, 2024) - Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company") today announced that it has entered into an amendment to its Revolver Loan Agreement with Equity Bank (Equity Bancshares, Inc. NYSE: EQBK), increasing the total principal commitment to $20.0 million, up from an initial $10.0 million through December 29, 2026. The increase highlights Empires strong operational and financial progress, supported by ongoing strategic initiatives, including the successful completion of an oversubscribed $10.0 million rights offering earlier this year. "This revolver increase provides us with additional financial resources to further execute our North Dakota development, drive growth, and deliver value to our shareholders. "Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana. Other than as required by applicable securities laws, the Company does not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations, or otherwise.