Altex Industries, Inc. Reports Earnings Results for the Second Quarter Ended March 31, 2020
May 08, 2020 at 05:09 pm EDT
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Altex Industries, Inc. announced earnings results for the second quarter ended March 31, 2020. For the second quarter, the company announced total revenue was USD 8,000 compared to USD 9,000 a year ago. Operating loss was USD 41,000 compared to USD 43,000 a year ago. Net loss was USD 34,000 compared to USD 6,000 a year ago. For the half year, total revenue was USD 24,000 compared to USD 31,000 a year ago. Operating loss was USD 60,000 compared to USD 58,000 a year ago. Net loss was USD 44,000 compared to USD 8,000 a year ago.
Altex Industries, Inc. is a holding company. The Company, through its operating subsidiary, Altex Oil Corporation (AOC), owns interests in onshore oil and gas properties, has bought and sold producing oil and gas properties. The Company has also participated in the drilling of exploratory and development wells, and in recompletions of existing wells. All of AOC's interests are in properties operated by others. The operators of producing properties in which AOC has an interest sell produced oil and gas to refiners, pipeline operators, and processing plants. The Company's estimated reserves are 1,300 barrels of developed oil reserves associated with its 4.4% override in the Glo Field in Campbell County, Wyoming. The Company owns small mineral interests in Utah. All the Company's production is located in Utah and Wyoming.
ALTEX INDUSTRIES, INC. 