Empire Petroleum Corporation  (EP)
Other Ticker:  
    Sector  Consumer Non Cyclical    Industry Legacy
   Industry Legacy
   Sector  Consumer Non Cyclical

Empire Petroleum Corporation Segments


Business Segments II. Quarter
(in millions $)
(Jun 30 2022)
(of total Revenues)
II. Quarter
(in millions $)
(Jun 30 2022)
(Profit Margin)
16.54 100 % 5.53 33.46 %

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Growth rates by Segment II. Quarter
Y/Y Revenue
(Jun 30 2022)
Q/Q Revenue
II. Quarter
Y/Y Income
(Jun 30 2022)
Q/Q Income
-98.82 % 26.78 % - 52.74 %

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To get more information on Empire Petroleum's Total segment. Select each division with the arrow.

  Empire Petroleum's

Business Segments Description

Our Pipelines segment owns or has interests in approximately 60,000 miles of interstate natural gas pipelines in the U.S. and internationally. In the U.S., our systems connect the nation's principal natural gas supply regions to the five largest consuming regions in the U.S.: the Gulf Coast, California, the Northeast, the Midwest and the Southeast. Our Pipelines segment provides natural gas transmission, storage, gathering and related services in the U.S. and internationally. These pipelines represent one of the largest integrated coast-to-coast mainline natural gas transmission systems in the U.S. Our U.S. pipeline systems also own or have interests in approximately 440 Bcf of storage capacity used to provide a variety of services to our customers and own and operate an LNG terminal at Elba Island, Georgia. Our international pipeline operations include access between our U.S. based systems and Canada and Mexico as well as interests in three operating natural gas transmission systems in Australia.

Our Production segment conducts our natural gas and oil exploration and production activities. Domestically, we lease approximately 4 million net acres in 16 states, including Louisiana, Oklahoma, Texas and Utah, and in the Gulf of Mexico. We also have exploration and production rights in Australia, Bolivia, Brazil, Canada, Hungary, Indonesia and Turkey.

Our Field Services segment conducts our midstream activities. As part of our plan to strengthen our capital structure and enhance our liquidity, we completed a number of asset sales during 2002, including the sale of our San Juan Basin gathering, treating and processing assets and our Texas and New Mexico midstream assets, including the intrastate natural gas pipeline system we acquired from Pacific Gas & Electric in 2000, to El Paso Energy Partners. El Paso Energy Partners is a publicly traded master limited partnership for which our subsidiary serves as general partner. As a result of asset sales to the partnership and others during 2002, our remaining Field Services assets consist of 23 processing plants and related gathering facilities located in the south Texas, Louisiana, Mid-Continent and Rocky Mountain regions, as well as our interests in El Paso Energy Partners. The partnership provides natural gas, natural gas liquids (NGL) and oil gathering, transportation, processing, fractionation, storage and other related services.

Our Merchant Energy segment consists of three primary divisions: global power, petroleum and energy trading. We are a significant owner of electric generating capacity and own or have interests in 88 power plants in 18 countries. We operate three refineries that have the capacity to process approximately 438 MBbls of crude oil per day and produce a variety of petroleum products. We also produce agricultural and industrial chemicals at four facilities in the U.S. and one in Canada. On February 5, 2003, we announced our intent to sell our remaining petroleum and chemicals assets, except for our Aruba refinery, as well as reduce our involvement in the LNG business. On November 8, 2002, we announced our plan to exit the energy trading business and pursue an orderly liquidation of our trading portfolio as a result of diminishing business opportunities and higher capital costs for this activity. During 2002 and the first part of 2003, we also completed or announced several asset sales including the sale of our coal mining assets and operations, petroleum assets and interests in power projects.


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