Empire Petroleum (EP) 10-Q 23 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-16653
Entity Registrant Name	EMPIRE PETROLEUM CORP
Entity Central Index Key	0000887396
Entity Tax Identification Number	73-1238709
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2200 South Utica Place
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	Tulsa
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74114
City Area Code	539
Local Phone Number	444-8002
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	65,661,634

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash	$ 1,016,877	$ 157,695
Accounts Receivable	3,600,234	1,251,634
Oil Inventory	1,690,674	531,309
Prepaids	191,839	281,895
Total Current Assets	6,499,624	2,222,533
Property and equipment:
Oil and Natural Gas Properties, Successful Efforts	44,967,979	22,711,445
Less: Accumulated Depreciation, Depletion and Impairment	(15,880,231)	(15,148,444)
Oil and natural gas properties, successful efforts, net	29,087,748	7,563,001
Other Property and Equipment, net	1,245,715	662,017
Total Property and Equipment, net	30,333,463	8,225,018
Investment in Related Party	1,250,000
Sinking Fund (Note 7)	3,850,000
Other Assets	1,156,642	802,050
Total Assets	43,089,729	11,249,601
Current Liabilities:
Accounts Payable	2,363,312	1,937,743
Accrued Expenses	3,712,549	2,697,831
Unrealized Loss on Oil and Natural Gas Derivatives	187,474	5,749
Embedded Conversion Option	6,126,961
Contingent Payment (see Note 6)		40,000
Current Portion of Lease Liability	145,433	89,769
Notes Payable to Related Party, net of discount	5,614,789
Current Portion of Long-term Notes Payable, net of discount	1,526,404	1,301,618
Total Current Liabilities	19,676,922	6,072,710
Long-Term Notes Payable	8,443,407	7,719,703
Long Term Lease Liability	684,426	534,009
Asset Retirement Obligations	20,488,906	15,364,217
Total Liabilities	49,293,661	29,690,639
Stockholders' Deficit:
65,661,634 and 24,892,277 Shares Issued and Outstanding, Respectively	65,661	24,892
Common Stock Subscribed
Additional Paid-in Capital	40,617,930	22,152,451
Accumulated Deficit	(46,887,523)	(40,618,381)
Total Stockholders' Deficit	(6,203,932)	(18,441,038)
Total Liabilities and Stockholders' Deficit	$ 43,089,729	$ 11,249,601

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	150,000,000	150,000,000
Common stock shares issued	65,661,634	24,892,277
Common stock shares outstanding	65,661,634	24,892,277

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Oil Sales	$ 4,058,449	$ 887,901	$ 6,120,493	$ 2,174,288
Natural Gas Sales	372,178	67,558	681,062	85,532
Natural Gas Liquids Sales	425,480		473,392
Other Revenue	45,357	39,070	82,975	49,109
Net Realized and Unrealized Gain (Loss) on Derivatives	(182,034)	(402,374)	(539,949)	2,106,671
Total Revenue	4,719,430	592,155	6,817,973	4,415,600
Costs and Expenses:
Operating	2,312,932	723,535	3,730,942	2,189,490
Taxes - Production	418,681	60,569	588,513	144,528
Depletion, Depreciation & Amortization	565,333	486,568	745,873	754,585
Impairment of Oil and Natural Gas Properties				800,452
Accretion of Asset Retirement Obligation	270,155	257,043	554,620	355,997
General and Administrative	3,220,101	1,914,406	4,126,149	2,443,390
Total Cost and Expenses	6,787,202	3,442,121	9,746,097	6,688,442
Operating Loss	(2,067,772)	(2,849,966)	(2,928,124)	(2,272,842)
Other Income and (Expense):
Gain on Sale of Assets				1,143,760
Other Expense	(435,584)		(435,584)
Interest Expense	(2,768,606)	(123,219)	(2,905,434)	(256,088)
Net Loss	$ (5,271,962)	$ (2,973,185)	$ (6,269,142)	$ (1,385,170)
Net Loss per Common Share, Basic & Diluted	$ (0.09)	$ (0.14)	$ (0.14)	$ (0.07)
Weighted Average Number of Common Shares Outstanding,
Basic & Diluted	60,707,380	21,392,277	46,405,985	21,222,387

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT (UNAUDITED) - USD ($)	Common Stock [Member]	Common Stock Subscribed [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances, March 31, 2020 at Dec. 31, 2019	$ 20,367		$ 18,823,926	$ (23,782,948)	$ (4,938,655)
Balance, share at Dec. 31, 2019	20,367,277
Net Loss				1,588,015	1,588,015
Conversion of Convertible Notes	$ 1,025		101,475		102,500
Conversion of Convertible Notes (in shares)	1,025,000
Balances, June 30, 2020 at Mar. 31, 2020	$ 21,392		18,925,401	(22,194,933)	(3,248,140)
Shares, Issued, Ending Balance at Mar. 31, 2020	21,392,277
Balances, March 31, 2020 at Dec. 31, 2019	$ 20,367		18,823,926	(23,782,948)	(4,938,655)
Balance, share at Dec. 31, 2019	20,367,277
Net Loss					(1,385,170)
Balances, June 30, 2020 at Jun. 30, 2020	$ 21,392		19,331,651	(25,168,118)	(5,815,075)
Shares, Issued, Ending Balance at Jun. 30, 2020	21,392,277
Balances, March 31, 2020 at Mar. 31, 2020	$ 21,392		18,925,401	(22,194,933)	(3,248,140)
Balance, share at Mar. 31, 2020	21,392,277
Net Loss				(2,973,185)	(2,973,185)
Stock Compensation Expense			406,250		406,250
Balances, June 30, 2020 at Jun. 30, 2020	$ 21,392		19,331,651	(25,168,118)	(5,815,075)
Shares, Issued, Ending Balance at Jun. 30, 2020	21,392,277
Balances, March 31, 2020 at Dec. 31, 2020	$ 24,892		22,152,451	(40,618,381)	(18,441,038)
Balance, share at Dec. 31, 2020	24,892,277
Net Loss				(997,180)	(997,180)
Warrants Exercised	$ 23,628		3,325,424		3,349,052
Warrants Exercised (in shares)	23,628,185
Issuance of Common Stock and Warrants	$ 8,995	(13,000)	3,139,655		3,135,650
Issuance of Common Stock and Warrants (in shares)	8,995,458
Balances, June 30, 2020 at Mar. 31, 2021	$ 57,515	(13,000)	28,617,530	(41,615,561)	(12,953,516)
Shares, Issued, Ending Balance at Mar. 31, 2021	57,515,920
Balances, March 31, 2020 at Dec. 31, 2020	$ 24,892		22,152,451	(40,618,381)	(18,441,038)
Balance, share at Dec. 31, 2020	24,892,277
Net Loss					(6,269,142)
Balances, June 30, 2020 at Jun. 30, 2021	$ 65,661		40,617,930	(46,887,523)	(6,203,932)
Shares, Issued, Ending Balance at Jun. 30, 2021	65,661,634
Balances, March 31, 2020 at Mar. 31, 2021	$ 57,515	(13,000)	28,617,530	(41,615,561)	(12,953,516)
Balance, share at Mar. 31, 2021	57,515,920
Net Loss				(5,271,962)	(5,271,962)
Warrants Exercised	$ 5,446	13,000	3,968,411		3,986,857
Warrants Exercised (in shares)	5,445,714
Stock Compensation Expense			406,250		406,250
Warrants Issued with Unsecured Convertible Notes			544,824		544,824
Unsecured Convertible Note Conversion	$ 1,200		1,498,800		1,500,000
Unsecured Convertible Note Convertible Notes (in shares)	1,200,000
Right to Buy Issued with Unsecured Convertible Notes			989,115		989,115
Shares and Warrants Issued for Secured Convertible Note	$ 1,500		4,593,000		4,594,500
Shares and Warrants Issued for Secured Convertible Note (in shares)	1,500,000
Balances, June 30, 2020 at Jun. 30, 2021	$ 65,661		$ 40,617,930	$ (46,887,523)	$ (6,203,932)
Shares, Issued, Ending Balance at Jun. 30, 2021	65,661,634

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows From Operating Activities:
Net Loss	$ (6,269,142)	$ (1,385,170)
Adjustments to Reconcile Net Loss to Net Cash
Gain on Sales of Assets		(1,143,760)
Stock Compensation Expense	406,250	406,250
Right to Buy Issuance Costs	989,115
Unrealized Loss on Embedded Conversion Option	596,284
Amortization of Discount on Convertible Notes	2,579,915
Amortization of Loan Issue Costs	14,587	29,172
Changes in Right of Use Assets, net	6,428
Depreciation, Depletion and Amortization	745,873	754,585
Impairment of Oil and Natural Gas Properties		800,452
Accretion of Asset Retirement Obligation	554,620	355,997
Cash paid to Ovintiv (see Note 4)		(850,000)
Loss relating to Ovintiv Purchase Deposit (see Note 4)		725,000
Forgiveness of Payroll Protection Plan loan	(160,700)
Change in Operating Assets and Liabilities:
Accounts Receivable	(2,348,605)	54,662
Unrealized Loss (Gain) on Oil and Natural Gas Derivative Instruments	181,725	(1,062,775)
Inventory	(840,819)	56,124
Prepaids	90,056	46,294
Other Assets	(206,907)	8,366
Accounts Payable	425,567	(6,005)
Accrued Expenses	724,402	66,521
Net Cash Used In Operating Activities	(2,511,351)	(1,144,287)
Cash Flows from Investing Activities:
Acquisition of Oil and Natural Gas Properties	(17,869,779)	(506,000)
Purchase of Other Fixed Assets	(83,811)
Investment in Related Party	(1,250,000)
Sinking Fund Deposit	(3,850,000)
Proceeds From Sale of Oil and Natural Gas Properties		1,160,400
Net Cash Provided by (Used in) Investing Activities	(23,053,590)	654,400
Cash Flows from Financing Activities:
Proceeds from Debt Issued	19,599,850	925,700
Principal Payments of Debt	(3,647,286)	(150,000)
Proceeds from Stock and Warrant Issuance	10,471,559
Net Cash Provided by Financing Activities	26,424,123	775,700
Net Change in Cash	859,182	285,813
Cash - Beginning of Period	157,695
Cash - End of Period	$ 1,016,877	$ 285,813

BASIS OF PRESENTATION AND GOING

BASIS OF PRESENTATION AND GOING CONCERN	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND GOING CONCERN	1. BASIS OF PRESENTATION AND GOING CONCERN The accompanying unaudited condensed consolidated financial statements of Empire Petroleum Corporation ("Empire" or the "Company") have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the Company's financial position, the results of operations, and the cash flows for the interim period are included. All adjustments are of a normal, recurring nature. Operating results for the interim period are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. The information contained in this Form 10-Q should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2020 which are contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 31, 2021. The Company has incurred significant losses in recent years. The continuation of the Company as a going concern is dependent upon the ability of the Company to attain future profitable operations and/or additional debt or equity financing until profitable operations are achieved. The ultimate recoverability of the Company's investment in oil and natural gas interests is dependent upon the existence and discovery of economically recoverable oil and natural gas reserves, the ability of the Company to obtain necessary financing to further develop the interests, and the ability of the Company to attain future profitable production. As of June 30, 2021, the Company had $ 1,016,877 of cash and working capital deficit of $ 13,177,298. The Company has proved reserves which have been acquired within the last two years. The Company plans to continue to look for oil and natural gas investments and will use a combination of debt and equity financing to fund potential acquisitions. The Company expects to also incur costs related to evaluating and acquiring oil and natural gas acquisitions for the foreseeable future. It is expected that management will attempt to raise additional capital for future investment and working capital opportunities. However, there can be no assurances the Company will be able to refinance or restructure its existing indebtedness, raise sufficient capital to fund its strategic development plans, and meet its various capital needs. As a result of these uncertainties, management has concluded there is substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements have been prepared on the basis of United States generally accepted accounting principles applicable to a company with continuing operations, which assume that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its obligations in the normal course of operations. Management believes the going concern assumption to be appropriate for these financial statements. If the going concern assumption were not appropriate for these financial statements, then adjustments might be necessary to adjust the carrying value of assets and liabilities and reported expenses. The Company’s impairment assessment of proved and unproved mineral properties is based on several factors including oil and gas spot market prices and estimated futures prices that existed at June 30, 2021. In 8,671,303 In the event crude oil or natural gas prices decline significantly, there is the risk that, among other things: the Company’s revenues, cash flows and profitability may decline substantially, which could also indirectly impact expected production by reducing the amount of funds available to acquire future mineral interests; • reserves relating to the Company’s proved properties may become uneconomic to produce resulting in impairment of proved properties; and • operators and other working interest owners are unable to execute their drilling and exploration programs resulting in lower production or inability to prove reserves on unproved properties The occurrence of certain of these events may have a material adverse effect on the Company's business, results of operations and financial condition. In early March 2020 there was a global outbreak of COVID-19 which has continued and resulted in changes in global supply and demand of certain mineral and energy products. These changes, including the magnitude and length of the economic downturn and any potential resulting direct and indirect negative impact to the Company cannot be determined, but they could have a prospective material impact to the Company’s acquisition and project development activities, and cash flows and liquidity. As of June 30, 2021, the Company had twenty nine employees. No independent Board members received compensation from the Company in the first six months of 2020; in 2021 independent Board members were compensated $ 33,000 84,000 227,000 116,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of consolidation Use of estimates in the preparation of financial statements Interim financial statements Certain disclosures have been condensed in or omitted from these condensed consolidated financial statements. Accordingly, these condensed notes to the condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. Inventory Convertible Debt The Company accounts for conversion options embedded in a host instrument in accordance with ASC 815, Derivatives and Hedging ("ASC 815). ASC 815 requires a reporting entity to bifurcate conversion options embedded in convertible debt and to account for them as a free standing derivative when the embedded feature is not clearly and closely related to the host instrument and meets the definition of a derivative and does not qualify for the scope exception from derivative accounting. For conversion options embedded in a host instrument which are required to be bifurcated and qualify for the scope exception from derivative accounting are accounted for under other models as required by ASC 470-20, Debt with Conversion and Other Options. Revenue recognition 2,800,000 800,000 Fair value measurements Impairment of oil and natural gas properties - The fair value of asset retirement obligations is included in proved oil and natural gas properties with a corresponding liability. The fair value was determined based on a discounted cash flow model, which included assumptions of the estimated current abandonment costs, discount rate, inflation rate and timing associated with the incurrence of these costs. The inputs used to value oil and natural gas properties for impairments and asset retirement obligations require significant judgment and estimates made by management and represent Level 3 inputs. Embedded conversion feature Investment in related party – Financial instruments and other- Related Party Transactions Related Party Disclosures

INVESTMENT IN RELATED PARTY

INVESTMENT IN RELATED PARTY	6 Months Ended
	Jun. 30, 2021
Investment In Related Party
INVESTMENT IN RELATED PARTY	3. INVESTMENT IN RELATED PARTY Concurrent with the acquisition and financing of the XTO properties (See Notes 7 and 11), the Company made an investment in Energy Evolution Fund LP, an affiliate of Energy Evolution Ltd, a related party, in the amount of $ 1,250,000 August 19, 2021

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	4. PROPERTY AND EQUIPMENT On January 27, 2020, the Company purchased lease interests in approximately 4,936 500,000 In February, 2020, the Company in two transactions sold all of its interest in leases of approximately 337 1,160,400 1,143,760 On April 6, 2020 the Company purchased oil and natural gas properties in Texas (see Note 6). In May, 2021 the Company purchased oil and natural gas properties in New Mexico (see Note 7). NYMEX strip prices experienced significant volatility in 2020, resulting in a significant decrease in value of the Company’s economically recoverable proved oil and natural gas reserves. As such, the carrying amount of the Company’s proved oil and natural gas properties exceeded the expected undiscounted future net cash flows for certain leases, resulting in impairment charges against earnings of $ 800,452 The aggregate capitalized costs of oil and natural gas properties as of June 30, 2021, are as follows: Proved producing wells $ 18,632,940 Proved undeveloped 2,232,358 Lease, well and gathering equipment 4,913,874 Asset retirement obligation 18,696,199 Unproved leasehold costs 492,608 Gross capitalized costs 44,967,979 Less: accumulated depreciation, depletion and impairment (15,880,231 ) $ 29,087,748 Other property and equipment consists of operating lease asset (See Note 11), vehicles, office furniture and equipment. Other property and equipment, at cost $ 1,347,631 Less: accumulated depreciation (101,916 ) Oher property and equipment, net $ 1,245,715

OVINTIV OIL AND NATURAL GAS PRO

OVINTIV OIL AND NATURAL GAS PROPERTIES	6 Months Ended
	Jun. 30, 2021
Ovintiv Oil And Natural Gas Properties
OVINTIV OIL AND NATURAL GAS PROPERTIES	5.        OVINTIV OIL AND NATURAL GAS PROPERTIES On March 3, 2020 the Company entered into a Purchase and Sale Agreement (“the Ovintiv Agreement”) with Ovintiv USA, Inc. and several related companies to purchase certain oil and natural gas properties in Montana and North Dakota. The purchase price was $ 8,500,000 January 1, 2020 April 30, 2020 The Company made an $ 850,000 50,000 725,000

ACQUISITION OF PARDUS OIL AND N

ACQUISITION OF PARDUS OIL AND NATURAL GAS PROPERTIES	6 Months Ended
	Jun. 30, 2021
Extractive Industries [Abstract]
ACQUISITION OF PARDUS OIL AND NATURAL GAS PROPERTIES	6.        ACQUISITION OF PARDUS OIL AND NATURAL GAS PROPERTIES On April 6, 2020 the Company, through its wholly owned subsidiary, Empire Texas, entered into a Purchase and Sale Agreement (“the Pardus Agreement”) with Pardus Oil & Gas, LLC and Pardus Oil & Gas Operating GP, LLC to purchase certain oil and natural gas properties in Texas comprising 139 gross wells and approximately 30,000 net acres, 77.3 miles of gathering lines and pipelines and related facilities and equipment, and all general and limited partner interest in Pardus Oil & Gas Operating, LP. 1,584,042 40,000 1,624,042 April 7, 2020 The following table sets forth the Company's purchase price allocation: Fair Value of Assets Acquired Accounts receivable $ 100,208 Inventory of oil in tanks 147,297 Deposits 378,000 Equipment and gathering lines 109,200 Oil and natural gas properties 10,397,821 Total Assets Acquired $ 11,132,526 Fair Value of Liabilities Assumed Accounts payable – trade $ 20,455 Note payable – current 378,000 Royalty suspense 1,185,587 Asset retirement obligations 9,508,484 Total liabilities assumed $ 11,092,526 Purchase Price $ 40,000 The fair values of assets acquired and liabilities assumed were based on the following key inputs: Oil and natural gas properties The value of oil and gas properties was based on an allocation of the purchase price which included assignment of values to the other identifiable assets acquired and liabilities assumed. The fair value of asset retirement obligations are included in proved oil and natural gas properties with a corresponding liability in the table above. The fair value was determined based on a discounted cash flow model, which included assumptions of the estimated current abandonment costs, discount rate, inflation rate and timing associated with the incurrence of these costs. The inputs used to value oil and natural gas properties and asset retirement obligations require significant judgment and estimates made by management and represent non-recurring Level 3 inputs Financial instruments and other The fair values determined for accounts payable - trade were equivalent to the carrying value due to their short-term nature and include liabilities primarily related to well activity prior to close. Inventory acquired as a part of the acquisition was based on oil in tanks at the date of acquisition multiplied by the day’s spot price.

ACQUISITION OF XTO OIL AND NATU

ACQUISITION OF XTO OIL AND NATURAL GAS PROPERTIES	6 Months Ended
	Jun. 30, 2021
Acquisition Of Xto Oil And Natural Gas Properties
ACQUISITION OF XTO OIL AND NATURAL GAS PROPERTIES	7.        ACQUISITION OF XTO OIL AND NATURAL GAS PROPERTIES On March 12, 2021 the Company, through its wholly owned subsidiary Empire New Mexico, entered into a purchase and sale agreement with XTO Holdings, LLC (a subsidiary of ExxonMobil) (the “Seller’) to acquire, among other things, certain oil and natural gas properties in New Mexico. The purchase price was $ 17,800,000 1,780,000 May 14, 2021 January 1, 2021 The XTO acquisition has been accounted for as an asset acquisition using the acquisition method of accounting under FASB ASC 805, Business Combinations (“ASC 805”). Under the accounting for asset acquisitions, the acquisition is recorded using a cost accumulation and allocation model under which the cost of the acquisition is allocated on a relative fair value basis to the assets acquired and liabilities assumed. For asset acquisitions under ASC 805, acquisition-related transaction costs are capitalized as a component of the cost of the assets acquired. As a condition of the sale, the Company purchased a $ 5,000,000 3,750,000 3,750,000 4 100,000 1,250,000 The following table sets forth the Company's preliminary purchase price allocation: Preliminary Fair Value of Assets Acquired Inventory of oil in tanks 318,546 Vehicles 179,156 Asset retirement obligation 6,117,709 Oil and natural gas properties 17,662,402 Total Preliminary Assets Acquired $ 24,277,813 Preliminary Fair Value of Liabilities Assumed Royalty suspense 290,325 Asset retirement obligations 6,117,709 Total Preliminary Liabilities Assumed $ 6,408,034 Purchase Price $ 17,869,779 The value of oil and gas properties was based on an allocation of the purchase price which included assignment of values to the other identifiable assets acquired and liabilities assumed. The value of inventory, vehicles, and royalty suspense was based on carrying value at the time of the acquisition. The fair value of asset retirement obligations are included in proved oil and natural gas properties with a corresponding liability in the table above. The fair value was determined based on a discounted cash flow model, which included assumptions of the estimated current abandonment costs, discount rate, inflation rate and timing associated with the incurrence of these costs.

JOINT DEVELOPMENT AGREEMENT

JOINT DEVELOPMENT AGREEMENT	6 Months Ended
	Jun. 30, 2021
Joint Development Agreement
JOINT DEVELOPMENT AGREEMENT	8.        JOINT DEVELOPMENT AGREEMENT On August 6, 2020 the Company, through its wholly owned subsidiary, Empire Texas, entered into a joint development agreement (the “JDA”) with Petroleum & Independent Exploration, LLC and related entities (“PIE”), a related party (See Note 14), dated August 1, 2020. Under the terms of the JDA, PIE will perform recompletion or workover on specified mutually agreed upon wells (“Workover Wells”) owned by Empire Texas. To fund the work, PIE entered into a term loan agreement with Empire Texas dated August 1, 2020, whereby PIE will loan up to $ 2,000,000 6 August 7, 2024 446,000 As part of the JDA, Empire Texas will assign to PIE a combined 85% working and revenue interest in the Workover Wells; an assignment was completed in October 2020 for the initial three Workover Wells. Of the assigned interest, 70% working and revenue interest will be used to repay the obligations under the term loan agreement. Once the term loan is repaid, PIE will reassign a 35% working and revenue interest to Empire Texas in each of the Workover Wells and retain a 50% working and revenue interest In addition, PIE and Empire entered into a Securities Purchase Agreement (“Securities Agreement”) whereby PIE purchased for $525,000 (a) 3,500,000 shares of Empire common stock, (b) warrants to purchase 2,625,000 shares of Empire common stock at an exercise price of $0.20 per share, (c) warrants to purchase 1,800,000 shares of Empire common stock at an exercise price of $0.25 per share, (d) warrants to purchase 8,136,518 shares of Empire common stock at an exercise price of $0.10 per share, and (e) warrants to purchase up to 11,066,667 shares of Empire common stock at an exercise price of $0.141 per share, pursuant to various vesting provisions as detailed in the Securities Agreement. 3,349,052

COMMODITY DERIVATIVE FINANCIAL

COMMODITY DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
COMMODITY DERIVATIVE FINANCIAL INSTRUMENTS	9.        COMMODITY DERIVATIVE FINANCIAL INSTRUMENTS The Company uses derivative financial instruments to manage its exposure to commodity price fluctuations. Commodity derivative instruments are used to reduce the effect of volatility of price changes on the oil and natural gas the Company produces and sells. The Company does not enter into derivative financial instruments for speculative or trading purposes. The Company’s derivative financial instruments consist of oil swaps. The Company does not designate its derivative instruments to qualify for hedge accounting. Accordingly, the Company reflects changes in the fair value of its derivative instruments in its condensed consolidated statements of operations as they occur. Unrealized gains and losses related to the swap contracts are recognized and recorded as an asset or liability on the Company’s condensed consolidated balance sheets. The following table summarizes the net realized and unrealized amounts reported in earnings related to the commodity derivative instruments for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Gain (loss) on derivatives: Oil derivatives $ (182,034 ) (402,374 ) $ (539,949 ) $ 2,106,671 Natural gas derivatives — — — — Total $ (182,034 ) (402,374 ) $ (539,949 ) $ 2,106,671 The following represents the Company’s net cash receipts from (payments on) derivatives for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Net cash received from payments on derivatives Oil derivatives $ (230,279 ) $ 510,609 $ (358,224 ) $ 1,043,894 Natural gas derivatives — — — — Total $ (230,279 ) $ 510,609 $ (358,224 ) $ 1,043,894 The following table sets forth the Company’s outstanding derivative contracts at June 30, 2021. The Company has no outstanding natural gas derivatives. 3 rd 4 th 2021 Oil Swaps: Quarterly volume (MBbl) 5.20 — Price per Bbl $ 38.25 —

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	10. DEBT The following table represents the Company’s outstanding debt June 30, 2021 December 31, 2020 Senior Revolver Loan Agreement $ 7,669,500 $ 8,124,000 2020 SBA Payroll Protection Plan loan — 160,700 2021 SBA Payroll Protection Plan loan 106,850 — Unsecured Promissory Note – Pardus — 378,000 PIE Joint Development Agreement loan, related party 462,959 315,273 Various Vehicle and Equipment notes 242,379 57,935 Secured Convertible Note, related party (see Note 11) 13,450,000 — Unsecured Convertible Notes (see Note 11) 1,743,000 — Total Debt 23,674,688 9,035,908 Unamortized Debt Issue Costs — (14,587 ) Unamortized Discount (8,090,088 ) — Total Debt net of Debt Issue Costs and Discount 15,584,600 9,021,321 Less current maturities 7,141,193 1,301,618 Total Long-Term Debt $ 8,443,407 $ 7,719,703 On March 10, 2021 the Company entered into the Third Amendment to its Senior Revolver Loan Agreement (“the Amended Agreement”) with CrossFirst Bank (“CrossFirst”). The Amended Agreement commitment amount is $ 8,520,000 180,000 June 30, 2021 20,000,000 Prime plus 150 basis points 4.75 March 27, 2022 80 EBITDAX to interest expense of at least 3:1 and funded debt to EBITDAX of 6:1 on a trailing twelve-month basis and reducing quarterly to 4:1 as of March 31, 2022 and thereafter. 7,669,500 March 27, 2024 During 2016 and 2017, the Company issued $ 260,000 157,500 1,575,000 102,500 1,025,000 All of the Senior Unsecured Promissory Notes have been converted to common stock of the Company as of June 30, 2020. On April 1, 2020, in conjunction with the purchase of assets from Pardus Oil & Gas, LLC (see Note 5), the Company entered into a unsecured promissory note agreement with the seller in the amount of $ 378,000 The note was payable in one installment on April 1, 2021 and bears interest at the one-year LIBOR rate (1% as of June 30, 2021). On May 5, 2020, the Company received an SBA Payroll Protection Plan (“PPP”) loan for $ 160,700 May 5, 2022 1 In June, 2021 the Company was informed that the SBA had forgiven the entire loan balance. In August 2020, concurrent with the Joint Development Agreement with Petroleum and Independent Exploration, LLC (“PIE”), a related party, the Company entered into a term loan agreement dated August 1, 2020, whereby PIE will loan up to $ 2,000,000 6 August 7, 2024 In addition, the Company assigned a 70% working and revenue interest to PIE in the designated wells which will be applied to repayment of the loan. On April 30,2021 the Company received a Second Draw SBA Payroll Protection Plan (“PPP”) loan for $ 106,850 April 30, 2026 1 The Company has an outstanding Letter of Credit in the amount of $ 3,750,000 3,750,000 4

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
CONVERTIBLE NOTES PAYABLE	11.      CONVERTIBLE NOTES PAYABLE On May 14, 2021 Empire New Mexico entered into a Senior Secured Convertible Note Agreement (the “Secured Note”) in the amount of $ 16,250,000 December 31, 2021 3.8 The Secured Note provides that up to 40% of the balance, together with accrued interest, can be converted into the Company’s common stock at the lesser of $1.25 per share or the offering price if the Company has a subsequent capital raise or an aggregate of 5,200,000 shares of common stock (without giving effect to any interest that may be converted). 0.25 if any amount is due on the Secured Note as of October 1, 2021 or the Company has not filed a registration statement with the United States Securities and Exchange Commission within 120 days of the Secured Note. If the registration statement described above is not filed within 120 days of the date of the Secured Note, Energy Evolution has the option to convert 50% of the Secured Note amount into common stock of the Company at a rate of $1.00 per share. 8,125,000 In addition, if any principal amount of the Secured Note remains outstanding on October 1, 2021, the conversion price shall be reduced by $0.25, provided the conversion price cannot be reduced by more than $0.25. no 2,800,000 The embedded conversion option has been bifurcated and accounted for separately as a derivative financial instrument. The separated derivative was initially recorded at fair value at the inception date and revalued as of June 30, 2021 resulting in a fair value of $ 5,530,677 6,126,961 596,284 As partial consideration for the issuance of the Secured Note, Energy Evolution received a closing fee of 1,500,000 3,000,000 1.00 May 14, 2022 10,125,177 5,530,677 1,500 2,773,500 1,819,500 3,000,000 2,289,966 In May, 2021 the Empire New Mexico entered into $ 3,243,000 1,500,000 May 9, 2022 5 The Unsecured Note holders may convert their notes to common stock of the Company at the lesser of $1.25 per share or the price per share offered by the Company if the Company has a future capital raise for an aggregate 2,594,400 shares of common stock (without giving effect to any interest that may be converted). (a) the 20-day weighted average price of the Common Stock trades above $3.50 per share on the OTCQB or any exchange and (b) the Registration Statement has become effective. The Unsecured Notes may be prepaid without penalty, but Empire New Mexico must provide at least 30 days’ prior written notice so the holders thereof may exercise their conversion rights. 1,500,000 1,200,000 The Company determined the embedded conversion features of the Unsecured Notes were equity-classified financing instrument. The fair value of the conversion feature was determined using a beneficial conversion model based on the a 60-day weighted average stock price and the maximum number of shares to be received if converted. As issuance, the amount recorded to additional paid in capital was $ 544,824 289,949 As an inducement for investors to enter into the Unsecured Convertible Notes, the Company’s Chief Executive Officer and President collectively offered to each investor the right to purchase a number of shares of common stock equal to 40 0.75 600,000 300,000 0.25 989,155

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	12.      LEASES As a lessee, the Company leases its corporate office headquarters in Tulsa, Oklahoma and three field offices. The leases expire between 2024 and 2027. The corporate office has an option to renew for an additional five-year term. The option to renew the lease is generally not considered reasonably certain to be exercised. Therefore, the period covered by such optional period is not included in the determination of the term of the lease and the lease payments during these periods are similarly excluded from the calculation of right-of-use lease asset and lease liability balances. The Company recognizes right-of use lease expense on a straight-line basis, except for certain variable expenses that are recognized when the variability is resolved, typically during the period in which they are paid. Variable right-of-use lease payments typically include charges for property taxes, insurance, and variable payments related to non-lease components, including common area maintenance. Right of use lease expense was $ 78,712 72,045 Supplemental balance sheet information related to the right of use leases as of June 30, 2021: Operating lease asset (included in Other Property and Equipment $ 796,940 Current portion of lease liability $ 145,433 Long term lease liability 684,426 Total right of use lease liabilities $ 829,859 The weighted average remaining term for the Company’s right of use leases is 4.7 Maturities of lease liabilities as of June 30, 2021: 2021 $ 95,920 2022 212,175 2023 215,124 2024 215,837 2025 243,260 Total lease payments 982,316 Less imputed interest (153,748 ) Total lease obligation $ 828,568

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
EQUITY	13.      EQUITY Diluted Earnings per Share ("EPS") gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on losses. As a result, if there is a loss from continuing operations, Diluted EPS is computed in the same manner as Basic EPS. At June 30, 2021 and 2020, the Company had 10,000,000 5,004,167 On April 3, 2019, the Board of Directors of the Company adopted the Empire Petroleum Corporation 2019 Stock Option Plan (the "Stock Option Plan"). The total number of shares of common stock that may be issued pursuant to stock options under the Stock Option Plan is 10,000,000 2,500,000 0.33 1,250,000 625,000 April, 2029 213 2.32 5.375 812,500 406,250 On August 7, 2020 concurrently with the Joint Development Agreement with Petroleum & Independent Exploration, LLC and related entities (“PIE”), the companies entered into a Securities Purchase Agreement (“Securities Agreement”) whereby PIE purchased for $525,000 (a) 3,500,000 shares of Empire common stock, (b) warrants to purchase 2,625,000 shares of Empire common stock at an exercise price of $0.20 per share, (c) warrants to purchase 1,800,000 shares of Empire common stock at an exercise price of $0.25 per share, (d) warrants to purchase 8,136,518 shares of Empire common stock at an exercise price of $0.10 per share, and (e) warrants to purchase up to 11,066,667 shares of Empire common stock at an exercise price of $ 0.141 147 19 4 years 450,848 3,349,052 During February and March 2021, the Company issued to a group of accredited investors 8,993,858 shares of its common stock and warrants to purchase 8,993,858 shares of its common stock for $ .50 December 31, 2022 3,147,850 . The value allocated to the warrants was the fair value determined using the Black-Scholes option valuation with the following assumptions: no dividend yield, expected annual volatility of 180 %, risk free interest rate of .14 % and an expected useful life of 21 months. The fair value of the warrants of $ 2,350,407 was allocated to Paid in Capital. For the six months ended June 30, 2021, warrants for 1,547,314 In connection with the purchase of XTO assets (See Note 7) the Company issued a Senior Secured Convertible Note due December 31, 2021 16,250,000 Empire issued to Energy Evolution Ltd (i) 1,500,000 shares of common stock along with (ii) a warrant certificate to purchase up to 3,000,000 shares of common stock at an exercise price of $1.00 per Warrant Share until May 14, 2022. Under the warrant certificate, the exercise price is subject to customary downward adjustments. 10,125,177 Additionally, in conjunction with the purchase of XTO assets (See Note 7), the Company entered into $ 3,243,000 May 9, 2022 5 1.25 1,500,000 1,200,000 544,824

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	14.      RELATED PARTY TRANSACTIONS The Energy Evolution Master Fund, Ltd. (“Energy Evolution”) is a related party of the Company as it beneficially owns approximately 21.4 23.58 In March 2021, the majority owner of PIE, through the exercise of warrants, became a significant shareholder of the Company’s outstanding shares of stock (See Note 12). The Company has a joint development agreement with PIE to perform recompletion or workover on specified mutually agreed upon wells (See Note 8). As of June 30, 2021, the Company has incurred obligations of $ 462,959 In connection with the purchase of XTO assets (See Note 7) the Company issued a Senior Secured Convertible Note due December 31, 2021, in the aggregate principal amount $ 16,250,000 Empire issued to Energy Evolution Ltd (i) 1,500,000 shares of common stock along with (ii) a warrant certificate to purchase up to 3,000,000 shares of common stock at an exercise price of $1.00 per warrant share until May 14, 2022. 2,800,000 56,472 Additionally, Energy Evolution Ltd, provided an Unsecured Convertible Note in the principal balance of $ 1,500,000 1,200,000 Energy Evolution, Ltd also purchased 600,000 Concurrent with the acquisition and financing of the XTO assets (See Note 7), the Company made an investment in Energy Evolution Fund LP, an affiliate of Energy Evolution Ltd, a related party, in the amount of $ 1,250,000 August 19, 2021

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Information
SUPPLEMENTAL CASH FLOW INFORMATION	15.      SUPPLEMENTAL CASH FLOW INFORMATION Supplemental Cash Flow Information 2021 2020 Cash Paid for Interest $ 469,638 $ 306,333 Non-cash Investing and Financing Activities: Non-cash Additions to Asset Retirement Obligations $ 6,117,709 $ 9,508,484 Unsecured Convertible Note conversion $ 1,500,000 $ — Purchases of oil and natural gas properties and deposits in accounts and notes payable, royalty suspense, and contingent payable to seller $ 290,325 $ 2,569,863 Note payable issued - PIE Agreement (see Note 8) $ 147,686 $ — Equipment purchased utilizing notes payable $ 199,226 $ — Forgiveness of PPP loan $ 160,700 $ — Shares and warrants issued for Secured Convertible Note $ 4,594,500 $ —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	16.      COMMITMENTS AND CONTINGENCIES From time to time, the Company is subject to various legal proceedings arising in the ordinary course of business, including proceedings for which the Company may not have insurance coverage. While many of these matters involve inherent uncertainty, as of the date hereof, the Company does not currently believe that any such legal proceedings will have a material adverse effect on the Company's business, financial position, results of operations or liquidity. The Company is subject to extensive federal, state and local environmental laws and regulations. These laws, among other things, regulate the discharge of materials into the environment and may require the Company to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Management believes no materially significant liabilities of this nature existed as of June 30, 2021. On March 22, 2021 the Company, through its wholly owned subsidiary, Empire ND Acquisitions, LLC, entered into a purchase and sale agreement with 31 Group, LLC to acquire among other things, certain oil and gas properties in North Dakota. The purchase price was $ 900,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	17.      SUBSEQUENT EVENTS On July 7, 2021 the Company entered into the Fourth Amendment to its Senior Revolver Loan Agreement (“the Amended Agreement”) with CrossFirst Bank (“CrossFirst”). The Amended Agreement revolver extends the maturity of the loan to March 27, 2024 7,980,000 reduced by $300,000 each calendar quarter beginning September 30, 2021. EBITDAX to interest expense of at least 3:1 and funded debt to EBITDAX of 5:1 on a trailing twelve-month basis. On July 22, 2021 the Company and 31 Group, LLC entered into a Mutual Termination Agreement which terminated the purchase and sale agreement of March 22, 2021 between the companies. (See Note 16). On August 19, 2021 the Company entered into a Mutual Termination Agreement with the Energy Evolution Fund, LP to terminate and rescind the Company’s $ 1,250,000 Between July 1, 2021 and August 23, 2021 warrants to purchase 571,429 285,714 700,000 On August 18, 2021 the Board of Directors of the Company approved the compensation plan for non-employee members of the Company’s Board of Directors. Under the plan, each non-employee Director will receive a Board fee of $ 80,000 120,000 December 31, 2021

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation
Use of estimates in the preparation of financial statements	Use of estimates in the preparation of financial statements
Interim financial statements	Interim financial statements Certain disclosures have been condensed in or omitted from these condensed consolidated financial statements. Accordingly, these condensed notes to the condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.
Inventory	Inventory
Convertible Debt	Convertible Debt The Company accounts for conversion options embedded in a host instrument in accordance with ASC 815, Derivatives and Hedging ("ASC 815). ASC 815 requires a reporting entity to bifurcate conversion options embedded in convertible debt and to account for them as a free standing derivative when the embedded feature is not clearly and closely related to the host instrument and meets the definition of a derivative and does not qualify for the scope exception from derivative accounting. For conversion options embedded in a host instrument which are required to be bifurcated and qualify for the scope exception from derivative accounting are accounted for under other models as required by ASC 470-20, Debt with Conversion and Other Options.
Revenue recognition	Revenue recognition 2,800,000 800,000
Fair value measurements	Fair value measurements Impairment of oil and natural gas properties - The fair value of asset retirement obligations is included in proved oil and natural gas properties with a corresponding liability. The fair value was determined based on a discounted cash flow model, which included assumptions of the estimated current abandonment costs, discount rate, inflation rate and timing associated with the incurrence of these costs. The inputs used to value oil and natural gas properties for impairments and asset retirement obligations require significant judgment and estimates made by management and represent Level 3 inputs. Embedded conversion feature Investment in related party – Financial instruments and other-
Related Party Transactions	Related Party Transactions Related Party Disclosures

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
The aggregate capitalized costs of oil and natural gas properties as of June 30, 2021, are as follows:	The aggregate capitalized costs of oil and natural gas properties as of June 30, 2021, are as follows: Proved producing wells $ 18,632,940 Proved undeveloped 2,232,358 Lease, well and gathering equipment 4,913,874 Asset retirement obligation 18,696,199 Unproved leasehold costs 492,608 Gross capitalized costs 44,967,979 Less: accumulated depreciation, depletion and impairment (15,880,231 ) $ 29,087,748
Other property and equipment consists of operating lease asset (See Note 11), vehicles, office furniture and equipment.	Other property and equipment consists of operating lease asset (See Note 11), vehicles, office furniture and equipment. Other property and equipment, at cost $ 1,347,631 Less: accumulated depreciation (101,916 ) Oher property and equipment, net $ 1,245,715

ACQUISITION OF PARDUS OIL AND_2

ACQUISITION OF PARDUS OIL AND NATURAL GAS PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2021
Extractive Industries [Abstract]
The following table sets forth the Company's purchase price allocation:	The following table sets forth the Company's purchase price allocation: Fair Value of Assets Acquired Accounts receivable $ 100,208 Inventory of oil in tanks 147,297 Deposits 378,000 Equipment and gathering lines 109,200 Oil and natural gas properties 10,397,821 Total Assets Acquired $ 11,132,526 Fair Value of Liabilities Assumed Accounts payable – trade $ 20,455 Note payable – current 378,000 Royalty suspense 1,185,587 Asset retirement obligations 9,508,484 Total liabilities assumed $ 11,092,526 Purchase Price $ 40,000

ACQUISITION OF XTO OIL AND NA_2

ACQUISITION OF XTO OIL AND NATURAL GAS PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2021
Acquisition Of Xto Oil And Natural Gas Properties
The following table sets forth the Company's preliminary purchase price allocation:	The following table sets forth the Company's preliminary purchase price allocation: Preliminary Fair Value of Assets Acquired Inventory of oil in tanks 318,546 Vehicles 179,156 Asset retirement obligation 6,117,709 Oil and natural gas properties 17,662,402 Total Preliminary Assets Acquired $ 24,277,813 Preliminary Fair Value of Liabilities Assumed Royalty suspense 290,325 Asset retirement obligations 6,117,709 Total Preliminary Liabilities Assumed $ 6,408,034 Purchase Price $ 17,869,779

COMMODITY DERIVATIVE FINANCIA_2

COMMODITY DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
The following table summarizes the net realized and unrealized amounts reported in earnings related to the commodity derivative instruments for the three and six months ended June 30, 2021 and 2020:	The following table summarizes the net realized and unrealized amounts reported in earnings related to the commodity derivative instruments for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Gain (loss) on derivatives: Oil derivatives $ (182,034 ) (402,374 ) $ (539,949 ) $ 2,106,671 Natural gas derivatives — — — — Total $ (182,034 ) (402,374 ) $ (539,949 ) $ 2,106,671
The following represents the Company’s net cash receipts from (payments on) derivatives for the three and six months ended June 30, 2021 and 2020:	The following represents the Company’s net cash receipts from (payments on) derivatives for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Net cash received from payments on derivatives Oil derivatives $ (230,279 ) $ 510,609 $ (358,224 ) $ 1,043,894 Natural gas derivatives — — — — Total $ (230,279 ) $ 510,609 $ (358,224 ) $ 1,043,894
The Company has no outstanding natural gas derivatives.	The following table sets forth the Company’s outstanding derivative contracts at June 30, 2021. The Company has no outstanding natural gas derivatives. 3 rd 4 th 2021 Oil Swaps: Quarterly volume (MBbl) 5.20 — Price per Bbl $ 38.25 —

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
The following table represents the Company’s outstanding debt	The following table represents the Company’s outstanding debt June 30, 2021 December 31, 2020 Senior Revolver Loan Agreement $ 7,669,500 $ 8,124,000 2020 SBA Payroll Protection Plan loan — 160,700 2021 SBA Payroll Protection Plan loan 106,850 — Unsecured Promissory Note – Pardus — 378,000 PIE Joint Development Agreement loan, related party 462,959 315,273 Various Vehicle and Equipment notes 242,379 57,935 Secured Convertible Note, related party (see Note 11) 13,450,000 — Unsecured Convertible Notes (see Note 11) 1,743,000 — Total Debt 23,674,688 9,035,908 Unamortized Debt Issue Costs — (14,587 ) Unamortized Discount (8,090,088 ) — Total Debt net of Debt Issue Costs and Discount 15,584,600 9,021,321 Less current maturities 7,141,193 1,301,618 Total Long-Term Debt $ 8,443,407 $ 7,719,703

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Supplemental balance sheet information related to the right of use leases as of June 30, 2021:	Supplemental balance sheet information related to the right of use leases as of June 30, 2021: Operating lease asset (included in Other Property and Equipment $ 796,940 Current portion of lease liability $ 145,433 Long term lease liability 684,426 Total right of use lease liabilities $ 829,859
Maturities of lease liabilities as of June 30, 2021:	Maturities of lease liabilities as of June 30, 2021: 2021 $ 95,920 2022 212,175 2023 215,124 2024 215,837 2025 243,260 Total lease payments 982,316 Less imputed interest (153,748 ) Total lease obligation $ 828,568

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Information
Supplemental Cash Flow Information	Supplemental Cash Flow Information 2021 2020 Cash Paid for Interest $ 469,638 $ 306,333 Non-cash Investing and Financing Activities: Non-cash Additions to Asset Retirement Obligations $ 6,117,709 $ 9,508,484 Unsecured Convertible Note conversion $ 1,500,000 $ — Purchases of oil and natural gas properties and deposits in accounts and notes payable, royalty suspense, and contingent payable to seller $ 290,325 $ 2,569,863 Note payable issued - PIE Agreement (see Note 8) $ 147,686 $ — Equipment purchased utilizing notes payable $ 199,226 $ — Forgiveness of PPP loan $ 160,700 $ — Shares and warrants issued for Secured Convertible Note $ 4,594,500 $ —

BASIS OF PRESENTATION AND GOI_2

BASIS OF PRESENTATION AND GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 1,016,877	$ 285,813	$ 1,016,877	$ 285,813	$ 157,695
Working capital deficit	13,177,298		13,177,298
mpairment of oil and natural gas properties				800,452	$ 8,671,303
Morrisett [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Officers and employees compensation			227,000	116,000
Pritchard [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Officers and employees compensation			227,000	$ 116,000
Minimum [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Officers and employees compensation			33,000
Maximum [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Officers and employees compensation			$ 84,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	6 Months Ended
	Jun. 30, 2021USD ($)
Accounting Policies [Abstract]
Receivables from contracts	$ 2,800,000
Joint interest billings amount	$ 800,000

INVESTMENT IN RELATED PARTY (De

INVESTMENT IN RELATED PARTY (Details Narrative) - Energy Evolution Ltd [Member]	6 Months Ended
	Jun. 30, 2021USD ($)
Related Party Transaction [Line Items]
Investment in affiliate	$ 1,250,000
Terminated date	Aug. 19, 2021

The aggregate capitalized costs

The aggregate capitalized costs of oil and natural gas properties as of June 30, 2021, are as follows: (Details) - Oil And Natural Gas [Member]	Jun. 30, 2021USD ($)
Guarantor Obligations [Line Items]
Proved producing wells	$ 18,632,940
Proved undeveloped	2,232,358
Lease, well and gathering equipment	4,913,874
Asset retirement obligation	18,696,199
Unproved leasehold costs	492,608
Gross capitalized costs	44,967,979
Less: accumulated depreciation, depletion and impairment	(15,880,231)
	$ 29,087,748

Other property and equipment co

Other property and equipment consists of operating lease asset (See Note 11), vehicles, office furniture and equipment. (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Other property and equipment, at cost	$ 1,347,631
Less: accumulated depreciation	(101,916)
Oher property and equipment, net	$ 1,245,715	$ 662,017

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative)	Jan. 27, 2020USD ($)a	Feb. 29, 2020USD ($)a	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Impairment of Oil and Natural Gas Properties						$ 800,452	$ 8,671,303
Montana [Member]
Related Party Transaction [Line Items]
Purchased lease interests acres | a	4,936
Payment for lease interests	$ 500,000
Consultant [Member]
Related Party Transaction [Line Items]
Purchased lease interests acres | a		337
Sale of lease interest		$ 1,160,400
Proceeds from sale of lease interest		$ 1,143,760

OVINTIV OIL AND NATURAL GAS P_2

OVINTIV OIL AND NATURAL GAS PROPERTIES (Details Narrative) - USD ($)	Mar. 03, 2020	Jun. 30, 2021
Related Party Transaction [Line Items]
Deposits		$ 850,000
Acquisition Deposit Receivable		50,000
Return of deposits		$ 725,000
Ovintiv [Member] | Purchase and Sale Agreement [Member]
Related Party Transaction [Line Items]
Business acquisation purchase price	$ 8,500,000
Business acquisation effective date	Jan. 1, 2020
Business acquisation closing date	Apr. 30, 2020

The following table sets forth

The following table sets forth the Company's purchase price allocation: (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accounts payable – trade	$ 2,363,312	$ 1,937,743
Note payable – current	8,443,407	7,719,703
Asset retirement obligations	20,488,906	$ 15,364,217
Fair Value of Assets Acquired [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accounts receivable	100,208
Inventory of oil in tanks	147,297
Deposits	378,000
Equipment and gathering lines	109,200
Oil and natural gas properties	10,397,821
Total Assets Acquired	11,132,526
Fair Value of Liability Assumed [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accounts payable – trade	20,455
Note payable – current	378,000
Royalty suspense	1,185,587
Asset retirement obligations	9,508,484
Total liabilities assumed	11,092,526
Purchase Price	$ 40,000

ACQUISITION OF PARDUS OIL AND_3

ACQUISITION OF PARDUS OIL AND NATURAL GAS PROPERTIES (Details Narrative) - USD ($)	Apr. 06, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Asset retirement obligations		$ 20,488,906		$ 15,364,217
Total purchase price for oil and natural gas propertie		$ 17,869,779	$ 506,000
Pardus Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of asset acquired	purchase certain oil and natural gas properties in Texas comprising 139 gross wells and approximately 30,000 net acres, 77.3 miles of gathering lines and pipelines and related facilities and equipment, and all general and limited partner interest in Pardus Oil & Gas Operating, LP.
Asset retirement obligations	$ 1,584,042
Amount paid for oil and natural gas properties	40,000
Total purchase price for oil and natural gas propertie	$ 1,624,042
Business acquisation closing date	Apr. 7, 2020

The following table sets fort_2

The following table sets forth the Company's preliminary purchase price allocation: (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset retirement obligations	$ 20,488,906	$ 15,364,217
Preliminary Fair value of Assets Acquired [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Inventory of oil in tanks	318,546
Vehicles	179,156
Asset retirement obligation	6,117,709
Oil and natural gas properties	17,662,402
Total Assets Acquired	24,277,813
Preliminary Fair Value of Liabilities Acquired [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Royalty suspense	290,325
Asset retirement obligations	6,117,709
Total liabilities assumed	6,408,034
Purchase Price	$ 17,869,779

ACQUISITION OF XTO OIL AND NA_3

ACQUISITION OF XTO OIL AND NATURAL GAS PROPERTIES (Details Narrative) - USD ($)	Mar. 12, 2021	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Total purchase price for oil and natural gas propertie		$ 17,869,779	$ 506,000
Purchase of performance bond		5,000,000
Letter of credit		3,750,000
Deposit per month		1,250,000
Promissory Note Agreement [Member]
Related Party Transaction [Line Items]
Letter of credit		$ 3,750,000
Rate of interest		4.00%
Deposit per month		$ 100,000
XTO Holdings LLC [Member]
Related Party Transaction [Line Items]
Total purchase price for oil and natural gas propertie	$ 17,800,000
Wired deposit	$ 1,780,000
Business acquisation closing date	May 14, 2021
Business acquisation effective date	Jan. 1, 2021

JOINT DEVELOPMENT AGREEMENT (De

JOINT DEVELOPMENT AGREEMENT (Details Narrative) - USD ($)	Mar. 11, 2021	Jun. 30, 2021
Joint Development Agreement [Member] | Petroleum & Independent Exploration, LLC [Member] | August 6, 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Loan from related party		$ 2,000,000
Rate of interest		6.00%
Maturity date		Aug. 7, 2024
Proceeds from loan		$ 446,000
Description of working and revenue interest		As part of the JDA, Empire Texas will assign to PIE a combined 85% working and revenue interest in the Workover Wells; an assignment was completed in October 2020 for the initial three Workover Wells. Of the assigned interest, 70% working and revenue interest will be used to repay the obligations under the term loan agreement. Once the term loan is repaid, PIE will reassign a 35% working and revenue interest to Empire Texas in each of the Workover Wells and retain a 50% working and revenue interest
Security Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of security purchase agreement		PIE purchased for $525,000 (a) 3,500,000 shares of Empire common stock, (b) warrants to purchase 2,625,000 shares of Empire common stock at an exercise price of $0.20 per share, (c) warrants to purchase 1,800,000 shares of Empire common stock at an exercise price of $0.25 per share, (d) warrants to purchase 8,136,518 shares of Empire common stock at an exercise price of $0.10 per share, and (e) warrants to purchase up to 11,066,667 shares of Empire common stock at an exercise price of $0.141 per share, pursuant to various vesting provisions as detailed in the Securities Agreement.
Aggregate exercise price	$ 3,349,052	$ 3,349,052

The following table summarizes

The following table summarizes the net realized and unrealized amounts reported in earnings related to the commodity derivative instruments for the three and six months ended June 30, 2021 and 2020: (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Credit Derivatives [Line Items]
Gain (loss) on derivatives	$ (182,034)	$ (402,374)	$ (539,949)	$ 2,106,671
Oil derivatives [Member]
Credit Derivatives [Line Items]
Gain (loss) on derivatives	(182,034)	(402,374)	(539,949)	2,106,671
Natural Gas Derivatives [Member]
Credit Derivatives [Line Items]
Gain (loss) on derivatives

The following represents the Co

The following represents the Company’s net cash receipts from (payments on) derivatives for the three and six months ended June 30, 2021 and 2020: (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Credit Derivatives [Line Items]
Net cash receipts from (payments on) derivatives:	$ (230,279)	$ 510,609	$ (358,224)	$ 1,043,894
Oil derivatives [Member]
Credit Derivatives [Line Items]
Net cash receipts from (payments on) derivatives:	(230,279)	510,609	(358,224)	1,043,894
Natural Gas Derivatives [Member]
Credit Derivatives [Line Items]
Net cash receipts from (payments on) derivatives:

The Company has no outstanding

The Company has no outstanding natural gas derivatives. (Details) - Oil Swaps [Member] - 2021 [Member]	Jun. 30, 2021$ / shares
Third quarter [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly volume (MBbl)	5.20
Price per Bbl	$ 38.25
Fourth quarter [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly volume (MBbl)
Price per Bbl

The following table represents

The following table represents the Company’s outstanding debt (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	$ 23,674,688	$ 9,035,908
Unamortized Debt Issue Costs		(14,587)
Unamortized Discount	(8,090,088)
Total Debt net of Debt Issue Costs and Discount	15,584,600	9,021,321
Less current maturities	7,141,193	1,301,618
Total Long-Term Debt	8,443,407	7,719,703
Senior Revolver Loan Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	7,669,500	8,124,000
SBA Payroll Protection Plan Note [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt		160,700
SBA Payroll Protection Plan Note 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	106,850
Unsecured Note Pardus Acquisition [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt		378,000
Term Loan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	462,959	315,273
Equipment Note [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	242,379	57,935
Secured Convertible Note Related Party [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	13,450,000
Unsecured Convertible Notes [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Debt	$ 1,743,000

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($)	Mar. 10, 2021	May 05, 2020	Apr. 30, 2021	Jun. 30, 2020	Jan. 31, 2020	Mar. 31, 2020	Jun. 30, 2021	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt conversion converted amount						$ 102,500
Letter of credit oustanding							$ 3,750,000
Pardus Oil & Gas, LLC [Member] | April 1, 2020 [Member]
Debt Instrument [Line Items]
Promissory note							$ 378,000
Description of notes payable							The note was payable in one installment on April 1, 2021 and bears interest at the one-year LIBOR rate (1% as of June 30, 2021).
Senior Unsecured Promissory Notes [Member]
Debt Instrument [Line Items]
Debt conversion converted instrument shares issued									260,000	260,000
Debt instrument convertible terms				All of the Senior Unsecured Promissory Notes have been converted to common stock of the Company as of June 30, 2020.
Three Senior Unsecured Promissory Notes [Member]
Debt Instrument [Line Items]
Debt conversion converted instrument shares issued					1,025,000			1,575,000
Debt conversion converted amount					$ 102,500			$ 157,500
Empire Louisiana and Empire North Dakota [Member]
Debt Instrument [Line Items]
Interest rate terms							EBITDAX to interest expense of at least 3:1 and funded debt to EBITDAX of 6:1 on a trailing twelve-month basis and reducing quarterly to 4:1 as of March 31, 2022 and thereafter.
Empire Louisiana and Empire North Dakota [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate							80.00%
Bank of Oklahoma [Member] | Promissory Note Agreement [Member]
Debt Instrument [Line Items]
Letter of credit oustanding							$ 3,750,000
Line of credit interest rate							4.00%
Revolver Loan Agreement [Member]
Debt Instrument [Line Items]
Maturity date							Mar. 27, 2024
Outstanding loan							$ 7,669,500
Revolver Loan Agreement [Member] | Cross First Bank [Member]
Debt Instrument [Line Items]
Revolver commitment amount	$ 8,520,000
Reduction in commitment amount per quarter	$ 180,000
Debt instrument maturity start date	Jun. 30, 2021
Interest rate terms							Prime plus 150 basis points
Interest rate							4.75%
Maturity date							Mar. 27, 2022
Revolver Loan Agreement [Member] | Cross First Bank [Member] | Maximum [Member]
Debt Instrument [Line Items]
Revolver commitment amount	$ 20,000,000
SBA Payroll Protection Plan Note [Member]
Debt Instrument [Line Items]
Interest rate		1.00%
Promissory note		$ 160,700
Debt Instrument, Maturity Date		May 5, 2022
Description of forgiven of loans		In June, 2021 the Company was informed that the SBA had forgiven the entire loan balance.
Joint Development Agreement [Member] | August 6, 2020 [Member] | Petroleum & Independent Exploration, LLC [Member]
Debt Instrument [Line Items]
Interest rate							6.00%
Debt Instrument, Maturity Date							Aug. 7, 2024
Loan from related party							$ 2,000,000
Description of working and revenue interest							In addition, the Company assigned a 70% working and revenue interest to PIE in the designated wells which will be applied to repayment of the loan.
Second Draw SBA Payroll Protection Plan Note [Member]
Debt Instrument [Line Items]
Interest rate			100.00%
Promissory note			$ 106,850
Debt Instrument, Maturity Date			Apr. 30, 2026

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)	May 14, 2021	May 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Short-term Debt [Line Items]
Derivative fair value			$ 5,530,677		$ 5,530,677
Derivative revalued			6,126,961		$ 6,126,961
Change in fair value of derivative			596,284
Shares issued for closing fee					1,500,000
Amortization of debt discount			289,949
Proceeds from issuance of debt					$ 19,599,850	$ 925,700
Secured Note [Member]
Short-term Debt [Line Items]
Issuance discount					10,125,177
Embedded derivative liability			5,530,677		5,530,677
Amortization of debt discount			2,289,966
Unsecured Convertible Note [Member]
Short-term Debt [Line Items]
Maturity date		May 9, 2022
Interest rate		5.00%
Debt instrument conversion terms		The Unsecured Note holders may convert their notes to common stock of the Company at the lesser of $1.25 per share or the price per share offered by the Company if the Company has a future capital raise for an aggregate 2,594,400 shares of common stock (without giving effect to any interest that may be converted).
Unsecured Convertible Note [Member] | Energy Evolution Ltd [Member]
Short-term Debt [Line Items]
Stock Issued During Period, Shares, New Issues		600,000
Face amount			$ 1,500,000		1,500,000
Unsecured Convertible Note [Member] | Empire New Mexico [Member]
Short-term Debt [Line Items]
Debt instrument conversion terms		(a) the 20-day weighted average price of the Common Stock trades above $3.50 per share on the OTCQB or any exchange and (b) the Registration Statement has become effective. The Unsecured Notes may be prepaid without penalty, but Empire New Mexico must provide at least 30 days’ prior written notice so the holders thereof may exercise their conversion rights.
Face amount		$ 3,243,000
Unsecured Convertible Note [Member] | Empire New Mexico [Member] | Energy Evolution Ltd [Member]
Short-term Debt [Line Items]
Debt instrument oustanding amount		$ 1,500,000
Unsecured Convertible Note [Member] | Energy Evoluation [Member]
Short-term Debt [Line Items]
Conversion of converted stock amount					$ 1,500,000
Warrant [Member]
Short-term Debt [Line Items]
Stock Issued During Period, Shares, New Issues					3,000,000
Issued price per shares			$ 1		$ 1
Maturity date			May 14, 2022		May 14, 2022
Proceeds from warrant exercises			$ 3,000,000
Common Stock [Member]
Short-term Debt [Line Items]
Stock Issued During Period, Shares, New Issues				8,995,458
Issuance discount					$ 1,500
Common Stock [Member] | Unsecured Convertible Note [Member] | Energy Evoluation [Member]
Short-term Debt [Line Items]
Conversion of stock					1,200,000
Shares exercised			600,000		600,000
Additional Paid-in Capital [Member]
Short-term Debt [Line Items]
Issuance discount					$ 2,773,500
issuance of warrant to purchase common stock					1,819,500
Proceeds from issuance of debt					$ 544,824
Chief Executive Officer and President [Member] | Unsecured Convertible Note [Member]
Short-term Debt [Line Items]
Percentage principal balance right to buy					40.00%
Principal balance right to buy per shares					$ 0.75
Chief Executive Officer and President [Member] | Warrant [Member]
Short-term Debt [Line Items]
Shares exercised			300,000		300,000
Exercise price			$ 0.25		$ 0.25
Issued expense			$ 989,155		$ 989,155
Senior Secured Convertible Note Agreement [Member]
Short-term Debt [Line Items]
Maturity date					Dec. 31, 2021
Conversion of debt to common stock					0
Prepayment of debt					$ 2,800,000
Face amount			$ 16,250,000		16,250,000
Senior Secured Convertible Note Agreement [Member] | Enerry Evolution Master Fund Ltd [Member]
Short-term Debt [Line Items]
Convertible notes payable	$ 16,250,000
Maturity date	Dec. 31, 2021
Interest rate	3.80%
Debt instrument conversion terms	The Secured Note provides that up to 40% of the balance, together with accrued interest, can be converted into the Company’s common stock at the lesser of $1.25 per share or the offering price if the Company has a subsequent capital raise or an aggregate of 5,200,000 shares of common stock (without giving effect to any interest that may be converted).
Debt instrument conversion price decrease	$ 0.25
Debt instrument conversion features	if any amount is due on the Secured Note as of October 1, 2021 or the Company has not filed a registration statement with the United States Securities and Exchange Commission within 120 days of the Secured Note. If the registration statement described above is not filed within 120 days of the date of the Secured Note, Energy Evolution has the option to convert 50% of the Secured Note amount into common stock of the Company at a rate of $1.00 per share.
Maximum number of conversion shares increase	8,125,000
Description of conversion price terms	In addition, if any principal amount of the Secured Note remains outstanding on October 1, 2021, the conversion price shall be reduced by $0.25, provided the conversion price cannot be reduced by more than $0.25.
Conversion of converted stock amount					$ 10,125,177

Supplemental balance sheet info

Supplemental balance sheet information related to the right of use leases as of June 30, 2021: (Details)	Jun. 30, 2021USD ($)
Leases [Abstract]
Operating lease asset (included in Other Property and Equipment	$ 796,940
Current portion of lease liability	145,433
Long term lease liability	684,426
Total right of use lease liabilities	$ 829,859

Maturities of lease liabilities

Maturities of lease liabilities as of June 30, 2021: (Details)	Jun. 30, 2021USD ($)
Leases [Abstract]
2021	$ 95,920
2022	212,175
2023	215,124
2024	215,837
2025	243,260
Total lease payments	982,316
Less imputed interest	(153,748)
Total lease obligation	$ 828,568

LEASES (Details Narrative)

LEASES (Details Narrative)	6 Months Ended
	Jun. 30, 2021USD ($)
Leases [Abstract]
Right of use lease expense	$ 78,712
Cash paid for right of use lease	$ 72,045
Weighted average remaining term for right of use leases	4 years 8 months 12 days

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	May 14, 2021	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Options outstanding excluded from calculation of earnings per share		10,000,000	5,004,167
Senior Secured Convertible Note Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Maturity date		Dec. 31, 2021
Principal amount		$ 16,250,000
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Shares Outstanding		1,547,314
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issued price per share		$ 1
Maturity date		May 14, 2022
Enerry Evolution Master Fund Ltd [Member] | Senior Secured Convertible Note Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Maturity date	Dec. 31, 2021
Description of partial consideration		Empire issued to Energy Evolution Ltd (i) 1,500,000 shares of common stock along with (ii) a warrant certificate to purchase up to 3,000,000 shares of common stock at an exercise price of $1.00 per Warrant Share until May 14, 2022. Under the warrant certificate, the exercise price is subject to customary downward adjustments.
Conversion feature alloted		$ 10,125,177
Interest rate	3.80%
April 30, 2021 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock options vested		625,000
April 30, 2021 [Member] | Warrants [Member] | Mr. Morrissett [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants issued to purchase common shares		2,500,000
February and March 2021 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants issued to purchase common shares		8,993,858
Risk free interest rate		18000.00%
Stock Issued During Period, Shares, Conversion of Units		8,993,858
Issued price per share		$ 0.50
Maturity date		Dec. 31, 2022
Stock Issued During Period, Value, Conversion of Units		$ 3,147,850
Proceeds from Contributed Capital		$ 2,350,407
Stock Option Plan [Member] | April 3, 2019 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issuable		10,000,000
Stock options vested		1,250,000
Options expiry date		April, 2029
Expected volatility rate		213.00%
Risk free interest rate		232.00%
Expected useful life		5 years 4 months 15 days
Additional paid in capital		$ 812,500
Fair of the remaining unvested options		$ 406,250
Stock Option Plan [Member] | April 3, 2019 [Member] | Pritchard [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercise price		$ 0.33
Joint Development Agreement [Member] | August 7, 2020 [Member] | Petroleum & Independent Exploration, LLC [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Expected volatility rate		147.00%
Risk free interest rate		19.00%
Expected useful life		4 years
Additional paid in capital		$ 450,848
Description of security purchase agreement		PIE purchased for $525,000 (a) 3,500,000 shares of Empire common stock, (b) warrants to purchase 2,625,000 shares of Empire common stock at an exercise price of $0.20 per share, (c) warrants to purchase 1,800,000 shares of Empire common stock at an exercise price of $0.25 per share, (d) warrants to purchase 8,136,518 shares of Empire common stock at an exercise price of $0.10 per share, and (e) warrants to purchase up to 11,066,667 shares of Empire common stock at an exercise price of $0.141 per share
Share Price		$ 0.141
Aggregate exercise price		$ 3,349,052
Unsecured Convertible Notes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion feature alloted		$ 1,500,000
Conversion of Stock, Shares Issued		1,200,000
Unsecured Convertible Notes [Member] | Accredited Investors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Maturity date		May 9, 2022
Principal amount		$ 3,243,000
Interest rate		5.00%
Conversion price per share		$ 1.25
Unsecured Convertible Notes [Member] | Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion feature alloted		$ 544,824

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	May 31, 2021	Jun. 30, 2021	May 14, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Total Debt		$ 23,674,688		$ 9,035,908
Senior Secured Convertible Note Agreement [Member]
Related Party Transaction [Line Items]
Principal amount		$ 16,250,000
Senior Secured Convertible Note Agreement [Member] | Enerry Evolution Master Fund Ltd [Member]
Related Party Transaction [Line Items]
Notes Payable			$ 16,250,000
Description of partial consideration		Empire issued to Energy Evolution Ltd (i) 1,500,000 shares of common stock along with (ii) a warrant certificate to purchase up to 3,000,000 shares of common stock at an exercise price of $1.00 per warrant share until May 14, 2022.
Repayments of Convertible Debt		$ 2,800,000
Repayment of interest		56,472
Term Loan [Member]
Related Party Transaction [Line Items]
Total Debt		$ 462,959		$ 315,273
Energy Evolution Master Fund Ltd [Member]
Related Party Transaction [Line Items]
Percentage of ownership		21.40%
Energy Evolution Ltd [Member]
Related Party Transaction [Line Items]
Percentage of ownership		23.58%
Related Party Transaction, Due from (to) Related Party		$ 1,250,000
Maturity date		Aug. 19, 2021
Energy Evolution Ltd [Member] | Unsecured Convertible Note [Member]
Related Party Transaction [Line Items]
Principal amount		$ 1,500,000
Conversion of Stock, Shares Issued		1,200,000
Number of shares issued	600,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental Cash Flow Information
Cash Paid for Interest	$ 469,638	$ 306,333
Non-cash Investing and Financing Activities:
Non-cash Additions to Asset Retirement Obligations	6,117,709	9,508,484
Unsecured Convertible Note conversion	1,500,000
Purchases of oil and natural gas properties and deposits in accounts and notes payable, royalty suspense, and contingent payable to seller	290,325	2,569,863
Note payable issued - PIE Agreement (see Note 8)	147,686
Equipment purchased utilizing notes payable	199,226
Forgiveness of PPP loan	160,700
Shares and warrants issued for Secured Convertible Note	$ 4,594,500

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Mar. 22, 2021USD ($)
31 Group, LLC [Member]
Related Party Transaction [Line Items]
Purchase price	$ 900,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Sep. 30, 2021	Aug. 18, 2021	Jul. 07, 2021	Aug. 23, 2021	Aug. 19, 2021	Jun. 30, 2021
Energy Evolution Ltd [Member]
Subsequent Event [Line Items]
Related Party Transaction, Due from (to) Related Party						$ 1,250,000
Subsequent Event [Member] | Non Employee Director [Member]
Subsequent Event [Line Items]
Board fee		$ 80,000
Shares issued for board fee		120,000
Vested date		Dec. 31, 2021
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of warrants purchase				571,429
Proceeds from warrant exercises				$ 285,714
Number of shares option to purchase				700,000
Subsequent Event [Member] | Energy Evolution Ltd [Member]
Subsequent Event [Line Items]
Related Party Transaction, Due from (to) Related Party					$ 1,250,000
Subsequent Event [Member] | Amended Agreement Revolver [Member] | Cross First Bank [Member]
Subsequent Event [Line Items]
Maturity date			Mar. 27, 2024
Commitment amount			$ 7,980,000
Description of reduction terms			reduced by $300,000 each calendar quarter beginning September 30, 2021.
Interest expense description	EBITDAX to interest expense of at least 3:1 and funded debt to EBITDAX of 5:1 on a trailing twelve-month basis.