ALTEX INDUSTRIES INC (ALTX)
Altex Industries is a minimal-footprint oil and gas exploration and production company. Incorporated in 1985, it operates through its subsidiary Altex Oil Corporation, focusing on interests in onshore productive oil and gas properties. The company trades over-the-counter under the ticker ALTX and is headquartered in Denver, Colorado, though most of its operational activity concerns holdings in Utah and Wyoming.
The company’s business is straightforward but small-scale. It owns interests in productive onshore oil and gas properties—assets it has accumulated over decades through purchases of producing properties and participation in drilling programs. Its revenue streams are limited and episodic: primarily oil and gas sales from its holdings, occasional interest income, and rare bonus payments when operators renew lease terms. With just one employee and proved reserves measured in thousands of barrels, Altex operates more as a holding company managing legacy assets than as an active operator or explorer.
Altex represents a particular class of energy company common in the 1980s and 1990s—small independents with scattered acreage that lack the capital or corporate infrastructure to expand. The company’s long trading history on OTC markets reflects its persistent but minimal presence in the energy sector. Its small market capitalization and thin trading volume are consistent with companies that maintain listing status primarily through legacy filings and occasional operational updates rather than growth ambitions.
Main holdings and revenue sources:
- Interests in productive onshore oil and gas properties in Utah and Wyoming
- Oil and gas production sales
- Mineral lease bonus payments (occasional)
- Interest income on balances
For investors researching smaller energy operators, Altex exemplifies the challenges and characteristics of surviving as a junior producer: limited liquidity, episodic revenue dependent on commodity prices, and minimal organizational scale. Its 10-K filings with the SEC show sporadic adjustments to reserve estimates and proved property values rather than material business developments.