Norris Industries Inc (OTCMKTS: NRIS) is an oil and gas company that develops, produces, and maintains crude oil and natural gas properties in Texas. Revenue comes from the sale of crude oil and natural gas produced from its working interests across multiple Texas counties. The company operates as a small independent producer, incorporated on February 19, 2014, as a Nevada corporation and headquartered in Weatherford, Texas. Its property portfolio includes acreage in Coleman County, Kilgore City, Jack County, and Palo Pinto County, acquired through a series of working interest purchases beginning in 2015. As of the 10-K filed May 28, 2025, the company carries an accumulated deficit and has reported net losses in both FY2024 and FY2025, classifying itself as a smaller reporting company. The stated strategy centers on Enhanced Oil Recovery methods applied to existing fields, selective acquisition of low-production properties, and potential diversification into oilfield services and non-oilfield businesses.

Revenue model

Transactional revenue from the sale of crude oil and natural gas produced from company-operated working interests in Texas. Accounts receivable from oil and gas sales are reflected in the FY2025 cash flow statement (fiscal year ended February 28, 2025, per the 10-K filed May 28, 2025).

Products and services

Crude oil and natural gas production from working interests in Texas. Properties include: Bend Arch Lion 1A and 1B Joint Ventures in Coleman County (380 acres, 7 producing wells, acquired May 2015); Marshall Walden joint venture in Kilgore City (45 acres, 8 Woodbine Sand oil wells); mineral leases in Jack County and Palo Pinto County (2,790 gross acres, 20 gross wells, acquired December 2017, producing approximately 50 BOE per day at time of acquisition). The company plans to apply Enhanced Oil Recovery technologies to existing properties.

Customers and end markets

Oil and gas commodity markets. The filing references independent buyers as part of the supply chain but does not disclose specific customers, customer concentration, or end-market detail beyond crude oil and natural gas sales.

Value-chain role

Upstream oil and gas operator. The company holds working interests, operates acreage directly, and contracts drilling specialists, technical consultants, cementing operators, and geologists for exploration and well completion. It plans to operate the majority of its acreage to control capital expenditures and costs.

Geographic exposure

Exclusively Texas, United States. Specific counties include Coleman County, Gregg County (Kilgore City), Jack County, and Palo Pinto County, all in Texas, as disclosed in the 10-K filed May 28, 2025.

Source: SEC 10-K, filed 2025-05-28

Industry: Crude Petroleum & Natural Gas Peers: ConocoPhillips DAYBREAK OIL & GAS, INC. Discovery Energy Corp. Gulf Coast Ultra Deep Royalty Trust Northern Minerals & Exploration Ltd