EP Surges Despite Broader Energy Sector Struggles
In a week marked by volatility and sharp declines across the energy sector, Empire Petroleum Corporation (NYSE:EP) has emerged as a standout performer. From April 3 to April 10, the company’s share price climbed by 7.05%, securing its spot among the top energy stocks gaining traction this week. This uptick comes as the broader energy sector grapples with significant challenges, including fallout from the ongoing U.S.-China trade conflict and plunging crude oil prices.
Over the past five days, the energy industry has declined by over 8%, substantially more than the 0.5% drop observed in the overall market. Contributing to this downturn are fears of a global economic slowdown, OPEC+’s decision to boost oil supply in May, and the Trump administration’s aggressive push to drive crude prices below $50 per barrel. However, industry analysts have expressed skepticism about the feasibility of this goal, noting that U.S. oil producers typically require prices between $61 and $70 per barrel to remain profitable, according to data from the Federal Reserve Bank of Dallas.
Government Focus on Energy and Coal Raises Questions
While oil remains under pressure, the coal sector has drawn fresh attention from the White House. Earlier this week, President Trump signed executive orders aimed at bolstering coal production and easing legal barriers that hinder energy resource development. One such order directed the U.S. Attorney General to review state-level climate regulations that may obstruct projects like coal extraction, with a view to invalidating them.
The Department of Energy followed up with a significant commitment—making $200 billion in financing available through its loan programs office to support new coal technologies. However, this move has sparked environmental concerns due to coal’s reputation as one of the most polluting energy sources. Critics also question the practicality of ramping up coal production, considering that hundreds of coal-powered plants have already closed in the last ten years, and overall demand for coal remains uncertain.
Strong Q4 Results and Operational Milestones Fuel EP’s Momentum
Empire Petroleum’s impressive stock performance is underpinned by strong operational achievements. In its Q4 2024 report, the company posted net production volumes of 1,581 barrels of oil per day, reflecting a 22% year-over-year increase. Furthermore, its year-end proved reserves stood at approximately 9.2 million barrels of oil equivalent, valued at $98.4 million based on standardized measurement.
A key highlight was the company’s success with Enhanced Oil Recovery (EOR) initiatives in North Dakota, where early data showed a staggering 700% boost in Starbuck field production. These promising developments have bolstered investor confidence, helping EP stand out in an otherwise troubled sector.
Ranked sixth among the top-performing energy stocks this week, Empire Petroleum is gaining attention from market watchers. Still, despite the company’s upward trajectory, some analysts maintain that AI stocks offer even stronger growth potential in the near term—highlighting the market’s ongoing pivot toward technology-driven investments.
