ADDED
See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.
All statements, other than statements of historical facts, which address activities, events, or developments that Empire expects, believes, or anticipates will or may occur in the future are forward-looking statements.
These forward-looking statements include, without limitation, statements relating to: outlook; business strategies; liquidity; financing of operations; oil and natural gas prices; source and sufficiency of funds required for operations and acquisitions (if opportunities arise); possible business developments; competition; government regulation; legal proceedings; debt service obligations; impact of inflation and economic downturns; capital expenditures; and other matters.
All forward-looking statements speak only as of the date of this Form 10-K or, if earlier, as of the date they were made.
Enhanced Oil Recovery or EOR Projects that involve injection of heat, miscible or immiscible gas, or chemicals into oil reservoirs, typically following full primary and secondary waterflood recovery efforts, in order to gain incremental recovery of oil from the reservoir.
Gross acres or Gross Wells The total acres or number of wells participated in, regardless of the amount of working interest owned.
New Mexico Oil Conservation Commission or NMOCC The New Mexico Oil Conservation Commission is a three-member board that oversees the state s oil and gas regulation, setting rules, hearing significant cases, and reviewing orders to ensure conservation of resources, protect health, environment, and property rights, and enforce compliance in the industry.
Empire operates primarily from the following wholly-owned subsidiaries in its areas of operations: Empire New Mexico LLC ( Empire New Mexico ) Empire North Dakota LLC ( Empire North Dakota ) Empire Texas LLC ( Empire Texas ) Empire Louisiana LLC ( Empire Louisiana ) Empire was incorporated in the state of Delaware in 1985.
REMOVED
Employer of Incorporation or Organization) Identification No.) 2200 S.
See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and emerging growth company in Rule 12b-2 of the Exchange Act.
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6.
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.
All statements, other than statements of historical facts, which address activities, events, or developments that Empire expects, believes, or anticipates will or may occur in the future, including future sources of financing and other possible business developments, are forward-looking statements.
All forward-looking statements speak only as of the date of this report or, if earlier, as of the date they were made.
3 GLOSSARY OF TERMS The following are abbreviations and definitions of certain terms used within this Annual Report on Form 10-K.
OTCQB The over-the-counter ( OTC ) market exchange for the middle tier of three marketplaces for trading OTC stocks.
4 Proved developed producing reserves or PDP Reserves that can be expected to be recovered from existing wells and completions with existing equipment and operating methods.
Empire New Mexico Empire New Mexico was formed when we purchased producing assets from XTO in May 2021.