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Posted 01 March, 2022

EMPIRE PETROLEUM CORP appointed new CEO

CEO Change detected for ticker OTC:EMPR in a 8-K filed on 01 March, 2022.


  (c). Effective February 24, 2022, the Board of Directors of Empire Petroleum Corporation (the "Company") appointed Eugene Sweeney, age 54, as Chief Operating Officer of the Company. Mr. Sweeney will report to Thomas Pritchard, Chief Executive Officer, and Michael Morrisett, President.  

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Overview of EMPIRE PETROLEUM CORP
Companies on the Energy Service • Oil Extraction
Empire Petroleum Corp. engages in the exploration and development of oil and natural gas. The company possesses long-life, low operational cost, mature, producing assets with slow decline profiles in the Permian Basin, Bakken region and central Gulf Coast region, in the states of New Mexico, North Dakota, Montana, Louisiana, and Texas. Empire focuses on economical well rehabilitation, stimulation, field maintenance and management to generate low-risk cash flows that provides stability and growth for shareholders. The company was founded in August 1983 and is headquartered in Tulsa, OK.
Market Cap
$219M
View Company Details
EMPIRE PETROLEUM CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


(c). Effective February 24, 2022, the Board of Directors of Empire Petroleum Corporation (the "Company") appointed Eugene Sweeney, age 54, as Chief Operating Officer of the Company. Mr. Sweeney will report to Thomas Pritchard, Chief Executive Officer, and Michael Morrisett, President.

From May 2021 until his promotion, Mr. Sweeney first served as Vice President - Operations and then Chief Operations Officer for the Company, during which he oversaw the operational transition of the assets the Company purchased from XTO Holdings, LLC, a subsidiary of ExxonMobil. From 2018 to 2021, Mr. Sweeney served as Vice President - Well Interventions for Cudd Energy Services, an oil and gas service company and subsidiary of RPC, Inc. (NYSE). From 2010 to 2018, Mr. Sweeney served as a Central Operations and Engineering Leader for BP.

Mr. Sweeney has a Bachelor's Degree of Science in Mechanical Engineering from Massachusetts Institute of Technology, a Master's Degree of Industrial Engineering from University of Michigan, and a Master's Degree of Petroleum Engineering from Texas A&M University. Mr. Sweeney is a licensed Texas Professional Engineer, a Certified Petroleum Engineer of the Society of Petroleum Engineers (SPE), and a member of the Society of Petroleum Evaluation Engineers (SPEE). Mr. Sweeney also has several patents relating to analytical flow methods and downhole tool design.

As Chief Operating Officer, Mr. Sweeney will earn a base salary of $260,000 per year. He will be eligible to receive annual bonuses at the discretion of the Board of Directors of the Company. He will also be eligible for equity awards under the Company's 2021 Stock and Incentive Compensation Plan at the discretion of the Board of Directors of the Company.


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