Empire Petroleum Corporation: Form 10-Q for the Quarterly Period Ended March 31, 2020

Source Company Report
Company Empire Petroleum Corporation
Tags Corporate: Overview/Strategy, Country: United States, M&A: Asset Deal, Deals, Upstream: Upstream News
Date May 15, 2020

Empire Petroleum Corporation provided following M&A details in its Form 10-Q for the Quarterly Period Ended March 31, 2020:

PROPERTY AND EQUIPMENT

On January 27, 2020 the Company, through its wholly owned subsidiary, Empire North Dakota, LLC, entered into a Bill of Sale and Assignment to purchase lease interests in approximately 4,936 acres in Montana for $500,000.

On February 10, 2020 the Company, through its wholly owned subsidiary, Empire North Dakota, LLC, sold overriding royalty interests for leases it owned in Montana for $325,000 to a consultant of the Company. As of March 31, 2020 $200,000 of the sale had been received with the balance pending completion of title work.

On February 17, 2020 the Company, through its wholly owned subsidiary, Empire North Dakota, LLC, sold all of its interest in leases of approximately 337 acres in Montana for $1,010,400.

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