Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

	)
In re:	)	Chapter 11
	)
EMERALD OIL, INC., et al.,¹	)	Case No. 16-10704
	)
Debtors.	)	(Jointly Administered)
	)

*EMERALD OIL, INC., ET AL.,* MONTHLY OPERATING REPORT FOR THE PERIOD ENDING JUNE 30, 2016**



DEBTOR’S ADDRESS:	200 Columbine Street, Suite 500
	Denver, CO 80206

DEBTORS’ ATTORNEYS:	Laura Davis Jones
	Colin R. Robinson
	Joseph M. Mulvihill
	Pachulski Stang Ziehl & Jones LLP
	919 North Market Street, 17th Floor
	P.O. Box 8705
	Wilmington, DE 19899-8705 (Courier 19801)
	Tel: (302) 652-4100
	Fax: (302) 652-4400

	̵ and ̵

	James H.M. Sprayregen, P.C.
	Ryan Blaine Bennett (admitted pro hac vice)
	Travis M. Bayer (admitted pro hac vice)
	Kirkland & Ellis LLP Kirkland & Ellis International LLP
	300 North LaSalle
	Chicago, IL 60654
	Tel: (312) 862-2000
	Fax: (312) 862-2200

¹ The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, include: Emerald Oil, Inc. (9000); Emerald DB, LLC (2933); Emerald NWB, LLC (7528); Emerald WB LLC (8929); and EOX Marketing, LLC (4887). The location of the Debtors’ service address is: 200 Columbine Street, Suite 500, Denver, Colorado 80206.

REPORT PREPARER:

Emerald Oil, Inc., et al.

GENERAL NOTES:

The Monthly Operating Report includes activity for the following Debtors:

Debtor	Case Number
Emerald Oil, Inc.	16-10704
Emerald DB, LLC	16-10705
Emerald NWB, LLC	16-10706
Emerald WB LLC	16-10707
EOX Marketing, LLC	16-10708

This Monthly Operating Report (“MOR”) has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in these chapter 11 cases and is in a format acceptable to the United States Trustee. The financial information contained herein is limited in scope and covers a limited time period. Moreover, such information is preliminary and unaudited, and is not prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States. In addition, the financial statements and supplemental information contained herein represent condensed combined information.

The unaudited consolidated financial statements have been derived from the books and records of the Debtors. This information, however, has not been subject to certain procedures that would typically be applied to financial information in accordance with GAAP, and upon application of such procedures the financial information could be subject to material change.

The financial information contained herein is presented on a preliminary and unaudited basis and remains subject to future adjustment.

The results of operations contained herein are not necessarily indicative of results which may be expected for any other period or for the full year and may not necessarily reflect the consolidated results of operations and financial position of the Debtors in the future.

[Remainder of Page Intentionally Left Blank]

The undersigned, having reviewed the attached report and being familiar with the Debtors’ financial affairs, verifies, under penalty of perjury, that the information contained herein is complete, accurate and truthful to the best of my knowledge.

DATE: July 28, 2016
	Ryan Smith
	Chief Financial Officer

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
	Reporting Period: June 2016

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.

		Document	Explanation	Affidavit/Supplement
REQUIRED DOCUMENTS	Form No.	Attached	Attached	Attached
Schedule of Cash Receipts and Disbursements	MOR-1	X
Bank Reconciliation (or copies of debtor's bank reconciliations)	MOR-1a	X
Schedule of Disbursements by Debtor Entity	MOR-1b	X
Schedule of Professional Fees and Expenses Paid	MOR-1c	X
Copies of bank statements	MOR-1d	X
Cash disbursements journals	MOR-1e	X
Statement of Operations	MOR-2	X
Balance Sheet as of Petition Date	MOR-3a	X
Balance Sheet as of Month End	MOR-3b	X
Status of Postpetition Taxes	MOR-4a	X
Copies of IRS Form 6123 or payment receipt			X
Copies of tax returns filed during reporting period			X
Summary of Unpaid Postpetition Debts	MOR-4b	X
Listing of aged accounts payable	MOR-4b	X
Accounts Receivable Reconciliation and Aging	MOR-5	X
Debtor Questionnaire	MOR-5	X

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor		Date


Signature of Joint Debtor		Date

/s/ Ryan Smith		7/29/16
Signature of Authorized Individual*		Date


Ryan Smith		CFO
Printed Name of Authorized Individual		Title of Authorized Individual

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

MOR

(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 1

Schedule of Cash Receipts and Disbursements (1)

For the Period June 1, 2016 through June 30, 2016

(Unaudited)

	Total Debtors

Beginning Cash	$	11,039,733

Receipts:
Gross Receipts (2)		6,272,869
Total Receipts		6,272,869

Disbursements (3):

Operating Expenses		3,009,724
Royalties		1,653,605
Payroll, Payroll Taxes and Benefits		511,181
Severance & Other Taxes		549,616
Professional Fees		1,738,661
Interest and Bank Fees		616,407
Total Disbursements		8,079,194

Net Cash Flow		(1,806,325	)

Ending Cash Balance	$	9,233,408

Notes:

(1) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil. Due to the consolidated cash management reporting system, certain cash payments may be paid out of a legal entity that is different than the legal entity where the expenses were incurred. Total disbursements by entity are provided in Schedule 1b.

(2) Gross Receipts include receipts of revenue from the production of oil, natural gas and NGLs, including revenue receipts on properties in which the Debtors have joint ownership. The operating receipts are presented on a gross basis, which includes third party revenue that is subsequently disbursed by the Company to the working interest owners for their portion of the revenue.

(3) Disbursements are presented on a gross basis and include outstanding post-petition checks from operating accounts as of the reporting date.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR-1a

Debtors Statement with respect to Bank Account Reconciliations, Bank Statements and Cash Disbursements Journal

For the Period June 1, 2016 through June 30, 2016

(Unaudited)

Bank Account Reconciliations and Cash Disbursements

The Debtors affirm that bank reconciliations are prepared for all open and active bank accounts on a monthly basis. The Debtors affirm that within its financial accounting systems, check registers and/or disbursement journals are maintained for each disbursement account.

Bank Statements

The Debtors affirm that bank statements for all open and active bank accounts are retained by the Debtors. The Debtors affirm that no bank accounts were closed during the current reporting period.

	16-10704		16-10708		16-10704		16-10704		16-10704
Debtor	Emerald Oil, Inc.		EOX Marketing, LLC		Emerald Oil, Inc.		Emerald Oil, Inc.		Emerald Oil, Inc.
Type	Operating		Operating		Utility		Employee Medical Claims		Professional Fees
Account Number (last 4 digits only)	#	0166	#	0112	#	4612	#	6810	#	7214

Balance Per Books	$	1,250,406	$	3,207,505	$	3,756	$	44,940	$	4,726,801

Bank Balance	$	4,181,595	$	3,207,505	$	3,756	$	44,940	$	4,726,801
(+) Deposits in transit (attach list)		-		-		-		-		-
(-) Outstanding checks (attach list)		2,931,189		-		-		-		-
Other (attach explanation)		-		-		-		-		-
Adjusted Bank Balance*	$	1,250,406	$	3,207,505	$	3,756	$	44,940	$	4,726,801

* Adjusted bank balance must equal balance per books

Checks Outstanding	Ck. #		Amount
		213374		233.04
		213386		1,938.81
		213546		394.82
		213769		263.44
		213779		4,946.61
		213790		642.25
		213810		3,382.27
		213823		118.33
		213852		114.42
		213869		150.53
		213893		159.73
		213935		5,107.83
		213936		1,702.62
		213952		473.28
		213985		168.02
		214128		937.39
		214160		396.27
		112916		193.23
		112982		3,197.65
		214197		224.23
		214209		1,585.76
		214220		570.63
		214236		955.46
		214238		103.81
		214241		3,148.09
		214247		100.97
		214248		1,344.91
		214287		115.84
		214292		103.02
		214341		3,638.62
		214357		390.80
		214383		3,483.93
		214411		147.83
		214415		4,705.81
		214445		106.36
		214497		7,691.22
		214533		540.64
		214543		221.69

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214565		229.65
		214568		137.43
		214574		348.30
		214578		911.97
		113025		504.00
		113039		65.00
		113060		6,171.50
		113073		3,862.50
		113076		103.96
		113086		7,725.00
		113088		7,974.50
		113094		2,624.21
		113103		201.56
		113111		65.00
		113116		15,264.50
		113117		7,810.00
		113119		157.50
		113120		2,250.00
		113125		14,890.00
		113128		9,806.00
		113129		51,413.96
		113130		380.00
		113131		435.83
		113132		1,399.76
		113133		78.75
		113135		1,842.00
		113136		15,674.44
		113137		108,855.30
		113138		731,830.76
		113139		80.00
		113140		8,400.00
		113141		17,325.00
		113142		308,305.19
		113143		11,988.53
		113144		52,845.03
		113145		1,146.70
		113146		4,206.00
		113147		10,658.50
		113148		1,898.95
		113149		12,111.00
		113150		5,547.75
		214593		24,144.47
		214594		29,152.86
		214595		6,953.57
		214596		1,621.96
		214597		10,058.92
		214599		563.28
		214600		435.44
		214601		492.24
		214602		4,672.51
		214603		9,623.20
		214604		519.16
		214605		176.73
		214606		200.79
		214607		829.82
		214608		445,884.02
		214609		333.06
		214610		1,358.19
		214611		194.71
		214612		542.57
		214613		4,033.03
		214614		1,355.21
		214615		109.92
		214616		187.23
		214617		107.47
		214618		14,289.97
		214619		5,716.19
		214620		363.60
		214621		1,112.52
		214622		6,927.99
		214623		2,158.93

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214624		591.05
		214625		17,139.93
		214626		7,038.35
		214627		402.01
		214628		1,892.98
		214629		1,892.98
		214630		1,959.05
		214631		696.23
		214632		165.43
		214633		330.87
		214634		530.93
		214635		57,399.36
		214636		4,694.72
		214637		5,633.64
		214638		13,528.18
		214639		4,847.08
		214640		10,663.01
		214642		15,792.20
		214643		1,498.32
		214644		792.51
		214645		772.27
		214646		2,523.71
		214647		102.72
		214648		209.98
		214649		104.88
		214650		160.67
		214651		160.69
		214652		18,739.05
		214654		1,675.51
		214655		299.28
		214656		107.20
		214657		15,044.08
		214658		5,503.39
		214659		8,124.45
		214660		8,284.94
		214662		10,849.96
		214663		105.36
		214664		2,477.83
		214665		131.50
		214666		219.20
		214667		104.24
		214668		167.65
		214669		1,612.37
		214670		1,783.50
		214671		627.46
		214672		12,054.08
		214673		182.74
		214674		100.87
		214675		512.32
		214676		145.04
		214677		3,275.48
		214678		100.87
		214679		104.21
		214680		217.76
		214681		174.29
		214682		172.81
		214683		217.75
		214684		5,251.03
		214685		120.25
		214686		100.87
		214687		428.12
		214688		781.13
		214689		297.28
		214690		2,784.76
		214691		119.22
		214692		1,638.43
		214693		252.26
		214694		632.60
		214695		7,588.76
		214696		1,734.31
		214697		106.80

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214698		1,399.12
		214699		2,050.52
		214700		297.28
		214701		1,129.66
		214702		202.34
		214703		108.40
		214704		119.22
		214705		259.44
		214706		1,483.60
		214707		416.45
		214708		123.49
		214709		123.49
		214710		308.70
		214711		389.19
		214712		867.83
		214713		1,483.59
		214714		131.49
		214715		101.09
		214716		220.91
		214717		5,374.66
		214718		327.32
		214719		185.24
		214720		5,541.15
		214721		3,677.77
		214722		928.73
		214723		243.75
		214724		119.22
		214725		202.34
		214726		167.65
		214727		512.34
		214728		106.77
		214729		397.18
		214730		104.24
		214731		374.73
		214732		252.27
		214733		106.64
		214734		119.55
		214735		4,179.52
		214736		185.24
		214737		106.65
		214738		140.90
		214739		104.21
		214740		397.18
		214741		183.21
		214742		214.52
		214743		210.08
		214744		7,847.54
		214745		126.73
		214746		101.92
		214747		100.37
		214748		94.39
		214749		1,004.99
		214750		485.87
		214751		248.72
		214752		217.75
		214753		1,863.98
		214754		100.37
		214755		122.56
		214756		114.27
		214757		512.33
		214758		405.66
		214759		116.71
		214760		297.88
		214761		123.49
		214762		1,229.88
		214763		100.38
		214764		106.64
		214765		116.68
		214766		3,989.97
		214767		312.91
		214768		187.22

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214769		187.22
		214770		328.74
		214771		208.92
		214772		169.83
		214773		622.50
		214774		9,369.58
		214775		1,590.13
		214776		1,590.13
		214777		185.24
		214778		432.16
		214779		1,278.35
		214780		887.27
		214781		624.10
		214782		887.27
		214783		1,828.72
		214785		5,223.79
		214786		149.83
		214787		233.71
		214788		4,945.66
		214789		6,490.38
		214790		6,312.89
		214791		2,477.83
		214792		2,523.93
		214793		2,497.50
		214794		14,093.08
		214795		6,543.00
		214796		6,543.00
		214797		6,543.00
		214798		590.24
		214799		4,186.36
		214800		1,653.98
		214801		1,550.00
		214802		1,550.00
		214803		1,035.63
		214804		996.52
		214805		996.52
		214806		1,006.86
		214807		996.52
		214808		1,006.86
		214809		996.52
		214810		6,512.24
		214811		2,170.80
		214812		2,170.80
		214813		2,232.75
		214814		3,725.45
		214815		187.69
		214816		2,736.27
		214817		1,840.88
		214818		1,414.82
		214819		581.39
		214820		343.75
		214821		210.32
		214822		392.30
		214823		490.54
		214824		408.77
		214825		490.54
		214826		1,584.90
		214827		110.45
		214828		687.53
		214829		272.54
		214830		229.43
		214831		408.77
		214832		3,488.48
		214833		272.54
		214834		581.39
		214835		272.54
		214836		110.47
		214837		182.25
		214838		182.24
		214839		272.54
		214840		891.97

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214841		581.39
		214842		343.75
		214843		1,744.20
		214844		581.39
		214845		135.17
		214846		891.98
		214847		142.27
		214848		581.39
		214849		227.82
		214850		222.99
		214851		272.54
		214852		408.79
		214853		5,183.18
		214854		229.44
		214855		272.53
		214856		5,183.18
		214857		917.72
		214858		187.69
		214859		581.39
		214860		272.54
		214861		884.52
		214862		200.72
		214863		272.54
		214864		227.82
		214865		581.39
		214866		3,455.45
		214867		102.44
		214868		280.40
		214869		129.32
		214870		4,360.58
		214871		280.40
		214872		272.54
		214873		408.77
		214874		272.54
		214875		581.39
		214876		222.99
		214877		272.54
		214878		234.63
		214879		3,455.45
		214880		104.91
		214881		104.89
		214882		137.90
		214883		167.50
		214884		577.14
		214885		597.30
		214886		224.00
		214887		1,229.69
		214888		1,194.63
		214889		224.00
		214890		396.03
		214891		224.00
		214892		1,154.22
		214893		865.92
		214894		14,749.36
		214895		2,736.27
		214896		14,488.63
		214897		577.14
		214898		597.30
		214899		1,154.22
		214900		1,154.22
		214901		396.03
		214902		224.00
		214903		298.68
		214904		597.31
		214905		384.72
		214906		597.29
		214907		551.36
		214908		1,602.21
		214909		410.24
		214910		698.52
		214911		560.12

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214912		129.66
		214913		560.12
		214914		129.66
		214915		420.11
		214916		560.12
		214917		1,680.47
		214918		1,680.47
		214919		420.11
		214920		420.11
		214921		1,680.47
		214922		1,408.18
		214923		420.11
		214925		14,781.41
		214926		129.05
		214927		176.09
		214928		210.76
		214929		176.09
		214930		234.77
		214931		176.09
		214932		181.44
		214933		359.39
		214934		114.03
		214935		1,154.22
		214936		1,194.63
		214937		3,429.64
		214938		346.22
		214939		232.60
		214940		386.39
		214941		2,828.58
		214942		2,828.58
		214943		1,885.69
		214944		1,885.68
		214945		1,885.68
		214946		5,657.16
		214947		192.89
		214948		3,729.06
		214949		194.56
		214950		1,909.98
		214951		124.25
		214952		124.25
		214953		4,433.84
		214954		706.69
		214955		4,433.84
		214956		3,347.45
		214957		222.26
		214958		491.69
		214959		519.16
		214960		107.76
		214961		1,424.40
		214962		3,347.45
		214963		106.63
		214964		326.29
		214965		317.13
		214966		326.29
		214967		241.06
		214968		2,797.35
		214969		817.64
		214970		182.24
		214971		269.56
		214972		12,377.58
		214973		184.94
		214974		694.15
		214975		288.54
		214976		288.54
		214977		288.55
		214978		288.54
		214979		1,379.90
		214980		1,408.07
		214981		445.95
		214982		445.95
		214983		2,653.85

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		214984		2,580.29
		214985		6,049.56
		214986		778.22
		214987		53,628.49
		214988		9,262.43
		214989		9,262.43
		214990		163.96
		214991		5,013.84
		214992		11,673.35
		214993		831.36
		214994		1,751.21
		214995		3,286.32
		214996		103.73
		214997		206.01
		214998		206.01
		214999		206.01
		215000		103.73
		215001		200.23
		215002		154.53
		215003		200.23
		215004		150.19
		215005		206.01
		215006		520.5
		215007		5298
		215008		392.54
		215009		185.48
		215010		169.03
		215011		304.47
		215012		131.44
		215013		124.55
		215014		228.34
		215015		0.1
		215016		290.13
		215017		896.35
		215018		304.47
		215019		2275.68
		215020		2275.68
		215023		100.22
		215024		798.94
		215025		5541.14
		215026		2067.4
		215027		440.43
		215028		240.24
		215029		164.72
		215030		435.44
		215031		278.69
		215032		3637.34
		215033		928.73
		215034		413.33
		215035		117.69
		215036		3455.45
		215037		1294.74
		215038		1180.54
		215039		758.07
		215040		758.07
		215041		1751.2
		215042		758.07
		215043		1727.54
		215044		197.94
		215045		1180.54
		215046		100.6
		215047		1151.71
		215048		197.94
		215049		1151.71
		215050		194.32
		215051		906.7
		215052		194.32
		215053		197.94
		215054		197.94
		215055		3735.48
		215056		216.97

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		215057		216.98
		215058		2810.47
		215059		780.37
		215060		780.37
		215061		780.37
		215062		780.37
		215063		13150.19
		215064		269.56
		215065		109.69
		215066		202.16
		215067		126.78
		215068		197.2
		215069		127.97
		215070		109.68
		215071		106.97
		215072		109.69
		215073		97.62
		215074		97.62
		215075		262.95
		215076		97.62
		215077		97.62
		215078		1516.55
		215079		361.56
		215080		778.22
		215081		486.39
		215082		486.39
		215083		510.12
		215084		486.39
		215085		253.07
		215086		253.07
		215087		253.07
		215088		316.34
		215089		316.34
		215090		316.34
		215091		316.29
		215092		271.15
		215093		221.31
		215094		221.31
		215095		221.31
		215096		221.31
		215097		221.31
		215098		194.78
		215099		194.78
		215100		194.78
		215101		162.13
		215102		162.13
		215103		162.13
		215104		109.42
		215105		112.43
		215106		1638.43
		215107		273.16
		215108		577.14
		215109		577.15
		215110		16181.52
		215111		519.16
		215112		823.61
		215113		427.09
		215114		2158.93
		215115		104.84
		215116		104.84
		215117		140.02
		215118		140.02
		215119		140.02
		215120		140.02
		215121		105.57
		215122		2653.85
		215123		141.41
		215124		143.34
		215125		106.43
		215126		106.43
		215127		106.43

FORM MOR-1a
(04/07)

Checks Outstanding	Ck. #		Amount
		215128		6597.13
		215129		106.43
		215130		136.72
		215131		696.41
		215132		225.58
		215133		225.58
		215134		225.58
		215135		289.09
		215136		1993.66
		215137		355.1
		215138		354.81
		215139		128.43
		215140		408.79
		1475		5757.34
				2,931,189.03

FORM MOR-1a
(04/07)

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 1 – 30, 2016

July 28, 2016

Office of the United States Trustee

Subject: Declaration Regarding Bank Account Reconciliations – MOR1a (June)

The debtors, Emerald Oil, Inc. et al., submit this a declaration regarding bank account reconciliations in lieu of providing copies of bank statements and copies of all account reconciliations.

The debtors have, on a timely basis, performed all bank account reconciliation in the ordinary course of its business. Copies of bank account statements and reconciliations are available for inspection upon request by the United States Trustee’s Office.

Pursuant to 28 U.S.C. § 1746, I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.

	/s/ Ryan Smith
	Name: Ryan Smith
	Position: Chief Financial Officer

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 1b

Schedule of Disbursements by Debtor Entity

For the Period June 1, 2016 through June 30, 2016

Unaudited

				Allocation
	Total Disbursements			Emerald Oil, Inc.		Emerald DB, LLC		Emerald NWB, LLC		Emerald WB, LLC		EOX Marketing, LLC		On Behalf of 3rd Parties
				16-10704		16-10705		16-10706		16-10707		16-10708

Trade	$	2,839,597	(2)	$	228,038	$	-	$	1,175,185	$	641,908	$	4,040	$	790,427
Severance Taxes		549,616	(2)		-		-		247,707		135,302		-		166,607
Royalties and other WI		1,653,605			-		-		-		-		-		1,653,605
Payroll, Payroll Taxes and Benefits		511,181	(3)		511,181		-		-		-		-		-
Rent & Utilities		52,963	(4)		52,963		-		-		-		-		-
Other		117,163	(5)		117,163		-		-		-		-		-
Professional fees		1,738,661	(6)		1,738,661		-		-		-		-		-
Interest and Bank Fees		616,407	(7)		615,418		-		-		-		989		-

Total:	$	8,079,194		$	3,263,424	$	-	$	1,422,892	$	777,210	$	5,029	$	2,610,639

Notes:

(1) Debtor in possession financing agreement was entered into by Emerald Oil, Inc.

(2) Allocated to the Debtors based on the estimate ownership of the underlying working interest in the properties.

(3) All individuals employed by Emerald Oil, Inc.

(4) Corporate office lease engaged by Emerald Oil, Inc.

(5) "Other' represents Insurance, which includes general commercial liability, workers’ compensation and employee benefits, allocated to Emerald Oil, Inc. as the covered items are directly related to the debtor entity.

(6) Debtor Professionals employed by Emerald Oil, Inc.

(7) Revolving Credit Agreement and related fees/interest were entered into by Emerald Oil, Inc.

FORM MOR-1b
(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 1c

Schedule of Professional Fees and Expenses Paid (1)

For the Period June 1, 2016 through June 30, 2016

(Unaudited)

					Check			Amount Paid
Payee	Period Covered	Amount Approved		Payor	Number		Date	Fees		Expenses
Debtor Bankruptcy Professionals
Kirkland & Ellis LLP	3/23/16 - 4/30/16	$	731,831	Emerald Oil, Inc.		113138	6/30/2015		713,092.80	$	18,738
Donlin Rencano & Company (Notice)			-						-		-
Donlin Rencano & Company (Admin)			-						-		-
Intrepid Financial Partners, LLC	3/23/16 - 4/30/16		108,855	Emerald Oil, Inc.		113137	6/30/2016		90,000		18,855
Opportune LLP	3/23/16 - 4/30/16		409,224	Emerald Oil, Inc.		Various	Various		385,010		24,214
Pachulski Stang Ziehl &Jones LLP			-						-		-
BDO LLP			-						-		-

Debtor Ordinary Course Professionals			-						-		-
EKS&H LLP			-						-		-
Fredrickson & Byron, P.A.			-						-		-
Vogel Law Firm	3/24/16 - 4/27/16		526	Emerald Oil, Inc.		113122	6/23/2016		526		N/A
Husch Blackwell LLP	3/24/16 - 4/27/16		28	Emerald Oil, Inc.		113100	6/23/2016		28		N/A
Taylor Anderson LLP			-						-		-
Mayer Brown LLP	3/28/16 - 4/15/16		10,368	Emerald Oil, Inc.		113106	6/23/2016		10,368		N/A

Lender Professionals
Luskin, Stern & Eisler LLP			-						-		-
Vinson & Elkins LLP	4/1/16 - 4/30/16		339,704	Emerald Oil, Inc.		113089	6/16/2016		337,453		2,251
Womble Carlyle Sandridge & Rice, LLP			-						-		-
FTI Consulting, Inc.	5/1/16 - 5/31/16		138,126	Emerald Oil, Inc.		113099	6/23/2016		138,126		N/A

UCC Professionals
Akin Gump Strauss Hauer & Feld LLP			-						-		-
Whiteford, Taylor & Preston LLC			-						-		-
Houlihan Lokey, Inc.			-						-		-

Total		$	1,738,661					$	1,674,603	$	64,059

Notes:

(1) Professional payments listed herein include payments made by the Debtors to retained professionals.

FORM MOR-1b
(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 2

Debtor Statement of Operations (1) (2)

For the Period June 1, 2016 through June 30, 2016

(Unaudited)

Case #		16-10704		16-10707			16-10706		16-10705		16-10708

Debtors (3):		Emerald Oil, Inc.		Emerald WB, LLC			Emerald NWB, LLC		Emerald DB, LLC		EOX Marketing, LLC		Eliminations (5)			Total Debtors
				(4)			(4)

REVENUES, NET OF TRANSPORTATION EXPENSES
Oil Sales	$	-		$	3,774,376		$	-	$	-	$	5,686,448	$	(5,686,448	)	$	3,774,376
Natural Gas Sales		-			(133,166	)		-		-		-		-			(133,166	)
		-			3,641,210			-		-		5,686,448		(5,686,448	)		3,641,210
OPERATING EXPENSES
Cost of Sales		-			-			-		-		5,582,826		(5,582,826	)		-
Production Expenses		-			1,595,509			-		-		-		-			1,595,509
Production Taxes		-			377,262			-		-		-		-			377,262
General and Administrative Expenses		575,321			-			-		-		-		-			575,321
Depletion of Oil and Natural Gas Properties		-			1,390,062			-		-		-		-			1,390,062
Impairment Expense		-			-			-		-		-		-			-
Depreciation and Amortization		67,872			-			-		-		-		-			67,872
Accretion of Discount on Asset Retirement Obligations		-			70,854			-		-		-		-			70,854
Total Expenses		643,193			3,433,687			-		-		5,582,826		(5,582,826	)		4,076,880

INCOME (LOSS) FROM OPERATIONS		(643,193	)		207,523							103,622		(103,622	)		(435,670	)

OTHER INCOME (EXPENSE)
Interest Expense		(2,011,494	)		-			-		-		-		-			(2,011,494	)
Reorganization Items		(1,887,939	)		-			-		-		-		-			(1,887,939	)
Total Other Expense, Net		(3,899,433	)		-			-		-		-		-			(3,899,433	)

INCOME BEFORE INCOME TAXES		(4,542,626	)		207,523			-		-		103,622		(103,622	)		(4,335,103	)

INCOME TAX BENEFIT		-			-			-		-		-		-			-

NET LOSS	$	(4,542,626	)	$	207,523		$	-	$	-	$	103,622	$	(103,622	)	$	(4,335,103	)

Notes:

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee, and is unaudited and subject to future adjustment. Certain totals may not sum due to rounding.

(2) The Statement of Operations is prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

(3) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil, Inc.

(4) Although title ownership in oil and gas properties is owned by both Emerald WB, LLC (16-10707) and Emerald NWB, LLC (16-10706), the Company has not historically accounted for these interests separately and, instead, have reflected all of their oil and gas activities within Emerald WB, LLC (16-10707).

(5) The crude oil purchases by EOX Marketing, LLC, from Emerald Oil, Inc., are eliminated for consolidation purposes.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 3a

Debtor Balance Sheets (1)

As of the Petition Date (2)

(Unaudited)

Case #	16-10704			16-10707			16-10706		16-10705		16-10708

Debtors (3):	Emerald Oil, Inc.			Emerald WB, LLC (4)			Emerald NWB, LLC (4)		Emerald DB, LLC		EOX Marketing, LLC			Eliminations (8)			Total Debtors

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	$	435,528		$	-		$	-	$	-	$	3,100,307		$	-		$	3,535,835
Accounts Receivable — Oil and Natural Gas Sales		1,957,354			-			-		-		-			-			1,957,354
Accounts Receivable — Joint Interest Partners		5,852,643			-			-		-		-			-			5,852,643
Other Receivables		700,705			-			-		-		31,871			-			732,576
Intercompany Receivable		3,018,861			-			-		-		-			(3,018,861	)		-
Prepaid Expenses and Other Current Assets		1,734,745			-			-		-		-			-			1,734,745
Total Current Assets		13,699,836			-			-		-		3,132,178			(3,018,861	)		13,813,153

PROPERTY AND EQUIPMENT
Oil and Natural Gas Properties, Full Cost Method
Proved Oil and Natural Gas Properties		-			733,069,244			-		-		-			-			733,069,244
Unproved Oil and Natural Gas Properties		-			79,272,070			-		-		-			-			79,272,070
Equipment and Facilities		987,311			14,552,936			-		-		-			-			15,540,247
Other Property and Equipment		3,483,025			-			-		-		-			-			3,483,025
Total Property and Equipment		4,470,336			826,894,250			-		-		-						831,364,586
Less - Accumulated Depreciation, Depletion and Amortization		(1,406,996	)		(588,210,892	)		-		-		-			-			(589,617,888	)
Total Property and Equipment, Net		3,063,340			238,683,358			-		-		-						241,746,698
Debt Issuance Costs, Net of Amortization		2,697,568			-			-		-		-			-			2,697,568
Deferred Tax Asset, net		1,813,561			-			-		-		-			-			1,813,561
Other Non-Current Assets		290,084			-			-		-		-			-			290,084
Total Assets	$	21,564,389		$	238,683,358		$	-	$	-	$	3,132,178		$	(3,018,861	)	$	260,361,064

LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES SUBJECT TO COMPROMISE (Pre-petition)
Intercompany Payables	$	-		$	-		$	-	$	-	$	3,018,861		$	(3,018,861	)	$	-
Account Payable		42,542,980			-			-		-		29,673			-			42,572,653
Accrued Expenses		5,473,146			-			-		-		264,138			-			5,737,284
Priority Debt (5)		-			-			-		-		-			-			-
Revolving Credit Facility		111,678,151			-			-		-		-			-			111,678,151
Convertible Senior Notes		148,500,000			-			-		-		-			-			148,500,000
Advances from Joint Interest Partners		726,710			-			-		-		-			-			726,710
Asset Retirement Obligations		4,582,522			-			-		-		-			-			4,582,522
Warrant Liability		94,000			-			-		-		-			-			94,000
Deferred Tax Liability, net		1,813,561			-			-		-		-			-			1,813,561
Other Liabilities		-			-			-		-		-			-			-
Total Liabilities Subject to Compromise		315,411,070			-			-		-		3,312,672			(3,018,861	)		315,704,881

Commitments and Contingencies

Series B Voting Preferred Stock (6)		256			-			-		-		-			-			256

STOCKHOLDERS' EQUITY
Common Stock (7)		9,583			-			-		-		-			-			9,583
Additional Paid-In Capital		273,945,998			238,683,358			-		-		-			-			512,629,356
Accumulated Deficit		(567,802,519	)		-			-		-		(180,493	)		-			(567,983,012	)
Total Stockholders' Equity		(293,846,938	)		238,683,358			-		-		(180,493	)		-			(55,344,073	)
Total Liabilities and Stockholders' Equity	$	21,564,389		$	238,683,358		$	-	$	-	$	3,132,178		$	(3,018,861	)	$	260,361,064

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 3a

Debtor Balance Sheets (1)

As of the Petition Date (2)

(Unaudited)

Notes:

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee, is unaudited and may not be prepared in accordance with US GAAP and is subject to future adjustment. Certain totals may not sum due to rounding.

(2) The petition date was March 22, 2016.

(3) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil, Inc.

(5) While the amount of priority debt as of the petition date is zero, this does not reflect potential liabilities. The amount of these potential liabilities are unknown at this time.

(6) 255,732 issued and outstanding with a liquidation preference value of $256 as of the petition date.

(7) Par Value $.001, 500,000,000 shares authorized, 9,582,970 shares issued and outstanding.

(8) Intercompany balances between EOX Marketing, LLC and Emerald Oil, Inc., are eliminated for consolidation purposes.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 3b

Debtor Balance Sheets (1)

As of June 30, 2016

(Unaudited)

Case #	16-10704			16-10707			16-10706			16-10705		16-10708

Debtors (2):	Emerald Oil, Inc.			Emerald WB, LLC (3)			Emerald NWB, LLC (3)			Emerald DB, LLC		EOX Marketing, LLC			Eliminations (7)			Total Debtors

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	$	6,025,903		$	-		$	-		$	-	$	3,207,505		$	-		$	9,233,408
Accounts Receivable — Oil and Natural Gas Sales		4,413,534			-			-			-		-			-			4,413,534
Accounts Receivable — Joint Interest Partners		5,323,597			-			-			-		-			-			5,323,597
Other Receivables		1,398,207			-			-			-		33,852			-			1,432,059
Intercompany Receivables		3,108,939			-			-			-		-			(3,108,939	)		-
Prepaid Expenses and Other Current Assets		1,487,565			-			-			-		-			-			1,487,565
Total Current Assets		21,757,745			-			-			-		3,241,357			(3,108,939	)		21,890,163

PROPERTY AND EQUIPMENT
Oil and Natural Gas Properties, Full Cost Method
Proved Oil and Natural Gas Properties		-			780,302,468			-			-		-			-			780,302,468
Unproved Oil and Natural Gas Properties		-			32,095,591			-			-		-			-			32,095,591
Equipment and Facilities		987,311			14,429,022			-			-		-			-			15,416,333
Other Property and Equipment		3,483,025			-			-			-		-			-			3,483,025
Total Property and Equipment		4,470,336			826,827,081			-			-		-						831,297,417
Less - Accumulated Depreciation, Depletion and Amortization		(1,633,929	)		(667,519,667	)		-			-		-			-			(669,153,596	)
Total Property and Equipment, Net		2,836,407			159,307,414			-			-		-						162,143,821
Debt Issuance Costs, Net of Amortization		2,392,169			-			-			-		-			-			2,392,169
Deferred Tax Asset, net		1,813,561			-			-			-		-			-			1,813,561
Other Non-Current Assets		512,236			-			-			-		-			-			512,236
Total Assets	$	29,312,118		$	159,307,414		$	-		$	-	$	3,241,357		$	(3,108,939	)	$	188,751,950

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts Payable	$	3,951,423		$	-		$	-		$	-	$	-		$	-		$	3,951,423
Debtor-in-possession financing		90,500,000			-			-			-		-			-			90,500,000
Accrued Expenses		-			-			-			-		543,418			-			543,418
Professional Fees		4,809,812			-			-			-		-			-			4,809,812
Total Current Liabilities		99,261,235			-			-			-		543,418			-			99,804,653

LIABILITIES SUBJECT TO COMPROMISE (Pre-petition)
Intercompany Payable		-			-			-			-		3,108,939			(3,108,939	)		-
Account Payable		40,573,458			-			-			-		29,673			-			40,603,131
Accrued Expenses		6,343,010			-			-			-		-			-			6,343,010
Priority Debt (4)		-			-			-			-		-			-			-
Revolving Credit Facility		31,678,151			-			-			-		-			-			31,678,151
Convertible Senior Notes		148,500,000			-			-			-		-			-			148,500,000
Advances from Joint Interest Partners		711,822			-			-			-		-			-			711,822
Asset Retirement Obligations		4,660,343			-			-			-		-			-			4,660,343
Warrant Liability		4,000			-			-			-		-			-			4,000
Deferred Tax Liability, net		1,813,561			-			-			-		-			-			1,813,561
Other Liabilities		-			-			-			-		-			-			-
Total Liabilities Subject to Compromise		234,284,345			-			-	`		-		3,138,611			(3,108,939	)		234,314,018

Total Liabilities		333,545,580			-			-			-		3,682,029			(3,108,939	)		334,118,671

Commitments and Contingencies

Series B Voting Preferred Stock (6)		256			-			-			-		-			-			256

STOCKHOLDERS' EQUITY
Common Stock (6)		9,583			-			-			-		-			-			9,583
Additional Paid-In Capital		353,369,575			159,307,414			-			-		-			-			512,676,989
Accumulated Deficit		(657,612,875	)		-			-			-		(440,673	)		-			(658,053,548	)
Total Stockholders' Equity		(304,233,717	)		159,307,414			-			-		(440,673	)		-			(145,366,976	)
Total Liabilities and Stockholders' Equity	$	29,312,118		$	159,307,414		$	-		$	-	$	3,241,357		$	(3,108,939	)	$	188,751,950

Notes:

2) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil, Inc.

(3) Although title ownership in oil and gas properties is owned by both Emerald WB, LLC (16-10707) and Emerald NWB, LLC (16-10706), the Company has not historically accounted for these interests separately and, instead, have reflected all of their oil and gas activities within Emerald WB, LLC (16-10707).

(4) This does not reflect potential liabilities. The amount of potential liabilities are unknown at this time.

(5) 255,732 issued and outstanding with a liquidation preference value of $256 as of the petition date.

(6) Par Value $.001, 500,000,000 shares authorized, 9,582,970 shares issued and outstanding.

(7) Oil Sales of EOX Marketing, LLC on behalf of Emerald Oil, Inc. and associated intercompany balances are eliminated for consolidation purposes.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 4a

Status of Post-Petition Taxes (1)

As of June 30, 2016

Unaudited

	Beginning Tax Liability		Amount Withheld or Accrued		Amount Paid			Date Paid	Check No. or EFT		Ending Tax Liability
Federal
Withholding	$	-	$	95,808	$	(95,808	)	Various		Various	$	-
FICA-Employee		-		22,201		(22,201	)	Various		Various		-
FICA-Employer		-		21,315		(21,315	)	Various		Various		-
Unemployment		-		-		-						-
Income		-		-		-						-
Other		-		-		-						-
Total Federal Taxes	$	-	$	139,324	$	(139,324	)				$	-

State and Local
Withholding		-		17,130		(17,130	)	Various		Various		-
Sales		-		-		-						-
Excise		-		-		-						-
Unemployment		-		-		-		Various		Various		-
Real Property		-		-		-						-
Personal Property		-		-		-						-
Other (2)		549,616		543,418		(549,616	)	5/24/2016		00365		543,418
Total State and Local	$	549,616	$	560,548	$	(566,746	)				$	543,418

Total Taxes	$	549,616	$	699,872	$	(706,070	)				$	543,418

Notes:

(1) No tax returns including IRS Form 6123 were filed during the reporting period.

(2) Severance and extraction taxes are paid on a monthly basis to the respective state in which our producing oil and gas properties are located. The amount represents the estimated portion of gross state taxes (including those remitted on behalf of third parties) to the Company that have accrued since the petition date.

FORM MOR-4
(04/07)

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 1 – 30, 2016

July 28, 2016

Office of the United States Trustee

Subject: Declaration Regarding Postpetition Taxes – MOR4a (June)

The debtors, Emerald Oil, Inc. et al., hereby submit this declaration regarding postpetition taxes.

All postpetition taxes for the debtors, which are not subject to dispute or reconciliation, are current. There are no material tax disputes or reconciliations.

Pursuant to 28 U.S.C. § 1746, I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.

	/s/ Ryan Smith
	Name: Ryan Smith
	Position: Chief Financial Officer

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR - 4b

Summary of Unpaid Post-Petition Debts (1)

As of June 30, 2016

Unaudited

	Days Aged
	Current			0-30			31-60			61-90			Over 90			Total
Trade Payable	$	2,981,502		$	681,284		$	224,394		$	6,044		$	-		$	3,893,223
Wages Payable		-			-			-			-			-			-
Taxes Payable (2)		543,418			-			-			-			-			543,418
Rent/Leases-Building		52,963			-			-			-			-			52,963
Rent/Leases-Equipment		671						3,449			-			-			4,120
Secured Debt/Adequate Protection Payments		-			-			-			-			-			-
Professional Fees		2,819,139			1,340,871			649,803			-			-			4,809,812
Amounts Due to Insiders*		1,117			-			-			-			-			1,117
Other		-			-			-			-			-			-
Total Postpetition Debts	$	6,398,810		$	2,022,155		$	877,645		$	6,044		$	-		$	9,304,653
Percentage of Total		69	%		22	%		9	%		0	%		0	%

Notes:

(1) The postpetition accounts payable reported represents open and outstanding trade vendor invoices that have been entered into the Debtor's accounts payable system. This summary includes accruals for invoices not yet received and for invoices not yet entered into the Debtor's accounts payable system.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: June 2016

MOR – 5

Debtors Account Receivable Reconciliation and Aging (1)

As of June 30, 2016

Unaudited

	Days Aged
Debtors	Current			0-30			31-60			61-90			Over 90			Total
Emerald Oil, Inc.	$	4,030,979		$	87,808		$	147,337		$	-		$	6,869,215		$	11,135,338
Emerald WB, LLC		-			-			-			-			-			-
Emerald NWB, LLC		-			-			-			-			-			-
Emerald DB, LLC		-			-			-			-			-			-
EOX Marketing, LLC		-			33,851			-			-			-			33,851
Total	$	4,030,979		$	121,660		$	147,337		$	-		$	6,869,215		$	11,169,190
Percentage of Total		36	%		1	%		1	%		0	%		62	%

Notes:

(1) Aging is primarily for the Debtors' joint interest billing and oil and gas sales receivables and does not include intercompany receivables. All amounts are included on a gross basis before any adjustment for estimated bad debts and other uncollectible amounts.

FORM MOR-5
(04/07)

DEBTOR QUESTIONNAIRE

Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside the normal course of business		X
this reporting period? If yes, provide an explanation below.
2. Have any funds been disbursed from any account other than a debtor in possession		X
account this reporting period? If yes, provide an explanation below.
3. Have all postpetition tax returns been timely filed? If no, provide an explanation	X
below.
4. Are workers compensation, general liability and other necessary insurance	X
coverages in effect? If no, provide an explanation below.
5. Has any bank account been opened during the reporting period? If yes, provide		X
documentation identifying the opened account(s). If an investment account has been opened
provide the required documentation pursuant to the Delaware Local Rule 4001-3.

Emerald Oil, Inc. 8-K