Summary
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Permex Petroleum Corporation Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Richard H. Little CEO | CNSX Exchange | CA71422P3034 ISIN |
| CA Country | 1 Employees | - Last Dividend | 24 Oct 2023 Last Split | - IPO Date |
Overview
Permex Petroleum Corporation operates as a junior oil and gas company with a focus on the acquisition, development, and production of oil and gas properties in the United States. With its inception in 2017, the company has quickly positioned itself within the competitive landscape of the oil and gas industry. Located in Dallas, Texas, Permex Petroleum has successfully secured interests in several notable properties across Stonewall County, Eddy County in New Mexico, and Martin Country in Texas. This strategic selection of properties underlines the company's commitment to tapping into the rich oil and gas reserves of the region, specifically targeting the prolific Permian Basin, which spans West Texas and southeast New Mexico. The company also handles royalty interests in this basin, enhancing its portfolio and revenue potential.
Products and Services
Permex Petroleum Corporation offers a range of products and services governed by its acquisition, development, and production endeavors. These include:
- Oil and Gas Production: At the core of its operations, the company focuses on extracting oil and gas. This involves the use of advanced technology and methods to efficiently and safely tap into natural reserves. Permex's properties such as Pittcock North, Pittcock South, and Windy Jones in Stonewall County, along with other holdings in New Mexico and Texas, serve as the primary sites for their production activities.
- Property Development: Beyond extraction, Permex is deeply involved in the development of its oil and gas properties. This includes investing in infrastructure, technology, and manpower to optimize the output and longevity of each site. Properties like the West Henshaw in Eddy County and the Breedlove "B" Clearfork in Martin Country are examples of assets currently under development to enhance their production capabilities.
- Royalty Management: Permex Petroleum extends its services to include the management of royalty interests, particularly in the Permian Basin. This aspect of their operation involves negotiating terms, managing agreements, and ensuring the profitable handling of royalties derived from oil and gas production on lands where they hold a stake.
