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Empire Petroleum Corporation: plugging liabilities in its filings

The company booked an asset retirement obligation of $31,816,000 at the end of 2025, +450% on 2019.

01020305.8201915.4202020.6202125.0202228.2202330.2202431.82025
Asset retirement obligation at year end, from the company's annual filings.
YearObligation bookedIncurredSettledSettled share of obligation
2019$5,788,280$5,251,329——
2020$15,364,217$9,508,484——
2021$20,640,599$6,117,709$2,055,80610.0%
2022$25,000,740$502,539——
2023$28,168,000$72,000——
2024$30,188,000$877,000$864,0002.9%
2025$31,816,000$30,000$541,0001.7%

Source: SEC EDGAR structured financial data (US government records), calendar-year filings. The obligation covers all asset types and is the company's own discounted estimate, not a plugging price; "settled" is what the company reports paying in the year. Filings rarely give well counts in structured form, so no cost per well is shown and nothing here is compared with state plugging costs. Separate from the Plugging Cost Index. See asset retirement obligations for lenders and sureties.

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