Altex Industries, Inc. Reports Earnings Results for the Second Quarter Ended March 31, 2021
May 07, 2021 at 03:07 pm EDT
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Altex Industries, Inc. announced earnings results for the second quarter ended March 31, 2021. For the second quarter, the company announced total revenue was USD 3,000 compared to USD 8,000 a year ago. Net loss was USD 49,000 compared to USD 34,000 a year ago. For the half year, total revenue was USD 11,000 compared to USD 24,000 a year ago. Net loss was USD 77,000 compared to USD 44,000 a year ago. Basic loss per share from continuing operations was USD 0.01.
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. 