Empire Petroleum announced the appointing of Matthew E. Watson to be the firm’s Chief Accounting Officer.
He is a Certified Public Accountant with over 20 years of accounting and financial reporting experience in the oil and gas industry. He also served as Executive Vice President of Accounting and Finance of Command Energy, LLC, an oil and gas exploration and production company, from January 2021 to August 2024.
From October 2019 to January 2021, Watson provided accounting and financial consulting services at various times to Citizen Energy Holdings, LLC and Mid-Con Energy Partners, LP, both oil and gas companies. He also served as Controller of Midstates Petroleum Company, Inc., an oil and gas exploration and production company, from July 2015 to September 2019.
Prior to that time, he held positions with Samson Resources and Grant Thornton LLP. He holds a Bachelor of Business Administration, Accounting and Management, from Evangel University in Springfield, Missouri.
The Tulsa-based company announcement indicated Watson will receive an initial grant of restricted stock units covering 15,000 shares of common stock of the Company under the Company’s 2024 Stock and Incentive Compensation Plan, which will vest in equal installments on the first, second and third anniversary of September 1, 2024.
He will also be eligible for future equity awards under the Plan at the discretion of the Board of Directors of the Company. Watson will earn a base salary of $230,000 per year. He will be eligible to receive annual bonuses at the discretion of the Board of Directors of the Company, with $20,000 guaranteed.