Altex Industries, Inc. Reports Earnings Results for the Third Quarter Ended June 30, 2021
August 13, 2021 at 05:16 pm EDT
Share
Altex Industries, Inc. announced earnings results for the third quarter ended June 30, 2021. For the third quarter, the company announced total revenue was USD 9,000 compared to USD 4,000 a year ago. Net loss was USD 31,000 compared to USD 31,000 a year ago. For the nine months, total revenue was USD 20,000 compared to USD 28,000 a year ago. Net loss was USD 108,000 compared to USD 75,000 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 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. 