Reserve Petroleum Co (OTC: RSRV) is an oil and gas company that generates revenue through working interest ownership and mineral royalty interests in oil and natural gas properties. Revenue comes from the sale of oil and gas production at spot market prices, with royalty and other interests accounting for $3,425,011 (21%) of oil and gas sales in FY2025 versus $3,460,997 (23%) in FY2024. The company participates as a working interest owner alongside third-party operators in development drilling and conducts an exploration program through purchased interests in independently developed prospects. In FY2025, the company participated in 39 development wells, with 33 (0.7 net) completed as producers. The company also holds consolidated variable interest entities including Grand Woods Development, LLC, and previously operated a water well drilling subsidiary, Trinity Water Services, LLC, whose contract was terminated in April 2024. Net income attributable to common stockholders was $4,903,715 in FY2025, up from $2,029,278 in FY2024, with basic and diluted earnings per share of $32.32.

Revenue model

Transactional revenue from oil and gas sales at spot market prices. Revenue splits between working interest production and royalty/other interests. Royalty and other interests contributed $3,425,011 (21%) of oil and gas sales in FY2025 and $3,460,997 (23%) in FY2024. The company has no significant long-term sales contracts; pricing is spot-market-based.

Products and services

Oil and natural gas production from working interest properties and royalty interest properties. The company previously provided water well drilling services through its subsidiary Trinity Water Services, LLC, until that contract was terminated April 19, 2024.

Customers and end markets

Oil and natural gas commodity markets. Sales are made at spot market prices with no significant long-term customer contracts disclosed in the FY2025 10-K filing.

Value-chain role

Non-operator working interest owner and mineral royalty interest holder. The company participates in drilling alongside third-party operators rather than acting as an operator. It uses the successful efforts method of accounting for oil and gas properties.

Geographic exposure

The filing does not specify geographic operating regions with sufficient detail to characterize the geographic mix.

Source: SEC 10-K, filed 2026-03-31

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