ALTEX INDUSTRIES INC is a micro-cap oil and gas company whose remaining operations are primarily passive, non-working interests in producing properties. Its proved developed reserves are tied to a 4.4% overriding royalty interest in the Glo Field in Campbell County, Wyoming, with additional very small mineral interests in Utah. The company did not participate in drilling during FY2024 or FY2025 and disclosed that it was not engaged in any oil and gas operations as of late November 2025. With low production volumes, the business model relies on commodity-linked production receipts, occasional asset sales, and interest income on cash balances to cover corporate overhead.
−1 066,7 %
−21,7 %
2.01
2.01
| % | |
|---|---|
| Oil production (royalty/non-working interests) | 55% Revenue from oil volumes attributable to non-working and overriding royalty interests. |
| Natural gas production (royalty/non-working interests) | 25% Revenue from gas volumes attributable to non-working and overriding royalty interests. |
| Asset sales of oil, gas, and mineral interests | 10% Occasional monetization of mineral and property interests, recognized as gains when sold. |
| Interest income and other | 10% Interest earned on cash balances and other minor income sources. |
ALTEX’s direct customers are the purchasers of crude oil and natural gas produced from the wells in which it holds...
Buy crude oil produced from wells where ALTEX has royalty/non-working interests; demand is driven by local gathering/transport access and refinery markets.
Buy natural gas produced from wells where ALTEX has royalty/non-working interests; pricing and volumes depend on basin differentials and midstream availability.
Acquire ALTEX’s oil, gas, and mineral interests when the company monetizes assets for cash (e.g., Utah interests sold for cash).
ALTEX’s oil and gas exposure is concentrated in the United States, with production located in Utah and Wyoming...
The company’s near-term challenge is that, at current production levels and commodity prices, it expects revenue to be...
Management states current production is unlikely to cover expenses without new revenue-producing assets.
With no material capex commitments disclosed, flexibility helps manage downside if prices/production weaken.
ALTEX’s business risk is dominated by its very small, concentrated production base and reliance on third-party...
Management states that, given current production, cash balances, rates, and prices, revenue is unlikely to cover expenses without new investments.
The company flags ARO and environmental expense as potential uncertainties that could materially affect results.
The company discloses no formal processes for identifying cybersecurity risks associated with third-party service providers and notes potential for delayed SEC filings or bank account losses.
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: 11/08/2026