Permex Petroleum Corp
Permex Petroleum Corp is a U.S.-focused independent oil and gas company organized around the acquisition, development, and production of properties in the Permian Basin and other U.S. basins. Through its operating subsidiary, it holds working interests, royalty interests, and infrastructure tied to producing wells, shut-in wells, saltwater disposal, and water supply assets.
Tilikausi 2024 · muutos edellisvuodesta
Kehitys 2021–2024
Liiketoiminta
Osuus liikevaihdostaProduction of crude oil and natural gas from operated and royalty properties.
Fee-based services tied to operating or managing oilfield assets.
Acquisition and development of producing and undeveloped leases in U.S. basins.
Re-entry, recompletion, and restoration of shut-in wells to production.
Saltwater disposal and water supply assets supporting field operations.
Tuotteet
Raportoitu · osuus liikevaihdosta- Crude Oil98,6 %
- Natural Gas1,4 %
Lähde: 10-K FY2023, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
Permex sells produced oil and gas into commodity markets, so its direct buyers are typically purchasers and marketers of hydrocarbons rather than end consumers. It also earns fee revenue from operator services contracts, which suggests counterparties include other working-interest owners or field operators that need operating support. Its royalty interests generate revenue from producing wells without direct operating responsibility.
Buy crude oil and natural gas production from Permex's operated wells and leases.
Pay fees for operating or field services under contract arrangements.
Generate royalty income from third-party operated wells and permitted acreage.
Share in development and operating economics across jointly held assets.
Strategia
Permex's strategy centers on restoring and expanding production from existing fields through workovers, recompletions, re-entries, and selective infill development. It also seeks to acquire producing assets at a discount and use field infrastructure such as saltwater disposal and water supply to support secondary recovery and lower-risk development.
Existing wellbores can be cheaper to monetize than new drilling and improve field output quickly.
Adds future production from known acreage and extends asset life.
Capital is needed to fund operating needs and field development.
Maantiede
Permex is headquartered in the United States but was incorporated in British Columbia, Canada, and its operating assets are concentrated in U.S. oil and gas basins. The core asset base is in Martin County, Texas in the Permian Basin, with additional properties in New Mexico's Delaware Basin area. Geography matters because production, workover activity, and water-handling infrastructure are all tied to specific field locations and basin economics.
Riskit
Permex is exposed to commodity-price volatility, field execution risk, and the capital intensity of restoring and developing mature oil and gas assets. Its disclosures also highlight going-concern and liquidity risk, which can constrain workovers, reserve development, and the ability to maintain production. Because the business depends on a small number of operated properties, operational setbacks or prolonged shut-ins can have an outsized effect.
The company disclosed insufficient working capital and reliance on external financing to fund operations and capex.
Kohdistuu: Operating and development funding
Oil and gas sales depend on market prices, which directly affect revenue and project returns.
Kohdistuu: Realized oil and gas prices
Restarting shut-in wells requires repairs, tubing replacements, and successful recompletions.
Kohdistuu: Breedlove and other operated wells
A limited number of fields and wells means problems at one asset can materially affect results.
Kohdistuu: Permian Basin properties
The shares have limited trading liquidity, which can widen spreads and increase volatility.
Kohdistuu: Common shares
Kirjanpito
Harkinnanvaraiset erätReserve volumes affect depletion, development planning, and the economics of proved undeveloped reserves.
Vaikutus: Higher or lower reserve estimates can materially change asset values and future expense recognition.
Field-level cash flow assumptions determine whether oil and gas properties remain recoverable.
Vaikutus: Downward price or production assumptions can trigger impairment charges.
The company must estimate future plugging and abandonment costs for wells and infrastructure.
Vaikutus: Changes in discount rates, timing, or cost estimates alter liabilities and accretion expense.
Oil sales and operator fee revenue may occur unevenly as wells restart and contracts change.
Vaikutus: Quarterly revenue comparability can be distorted by restart timing and service fees.
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Päivitetty: 29.4.2026