Altex Industries Inc (OTC Pink: ALTX) is an oil and gas holding company that owns non-operating mineral and royalty interests in onshore oil and gas properties in Utah and Wyoming. Revenue comes from oil and gas sales tied to production on properties operated entirely by third parties. The company operates through its subsidiary AOC and as of November 28, 2025, was not engaged in any active oil and gas operations. Proved, developed oil reserves stood at 2,400 barrels, represented by a 4.4% override interest in the Glo Field in Campbell County, Wyoming, as of September 30, 2025. Incorporated in Delaware in 1985, Altex is a shell-like entity with one full-time employee. Steven Cardin serves as CEO, Principal Financial Officer, and Principal Accounting Officer. The company's common stock trades on the OTC Pink Limited Market under the symbol ALTX, with approximately 3,400 holders of record as of November 28, 2025. No dividends have been paid. Audit fees billed for FY2025 totaled $21,450.

Revenue model

Transactional oil and gas sales derived from non-working override interests in properties operated by third parties. Operators sell produced oil and gas to refiners, pipeline operators, and processing plants, with AOC receiving its interest share of proceeds.

Products and services

Non-operating override and mineral interests in onshore oil and gas properties. The company does not drill, operate, or manage production directly.

Customers and end markets

End customers for produced oil are refiners, pipeline operators, and processing plants. Altex itself does not sell directly to these buyers; operators of the properties handle all sales.

Value-chain role

Passive royalty and override interest holder. All operations are conducted by third-party property operators. Altex has no operational role in production, drilling, or marketing of oil and gas.

Geographic exposure

All production interests are located in Utah and Wyoming (as of September 30, 2025). The primary reserve asset is a 4.4% override in the Glo Field, Campbell County, Wyoming.

Source: SEC 10-K, filed 2025-11-28

Industry: Crude Petroleum & Natural Gas Peers: ConocoPhillips NEW FRONTIER ENERGY INC