TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum Corporation (“Empire”) (OTC Pink: EMPR) announced today that it has entered into an agreement (“Contribution Agreement”) with Masterson West, LLC concerning a newly-formed entity, Masterson West II, LLC (“MWII”). According to the Contribution Agreement signed December 22, 2016, Empire contributed 40,000,000 shares of its common stock to MWII and, at the final closing, Masterson West has…