Norris Industries, Inc.
NRIS
Other OTC0.13
USD
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Norris Industries, Inc.
NRIS
(Other OTC)
Recent
price
0.13
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Norris Industries, Inc. (NRIS) is a Texas-based exploration and production company focused on the acquisition, development, exploration, production, and maintenance of crude oil and natural gas properties, primarily in Central West Texas including the Permian Basin, Bend Arch-Fort Worth Basin, Texas Gulf Coast, Ellenberger formation in Coleman County, and Jack and Palo-Pinto Counties; its core assets encompass producing fields such as Dawson, Bend Arch Tiger, and Guadalupe, with specialization in shallow well exploration under 5,000 feet and application of enhanced oil recovery technologies to boost reserves and output. Founded in 2014 and headquartered in Weatherford, Texas, with operations managed from Irving, the company targets opportunistic acquisitions amid market volatility to grow production and cash flow, serving upstream energy markets through oil and natural gas sales reported at approximately $82,000 in oil and $12,000 in gas for recent quarterly periods. In recent developments, Norris Industries reported nine-month revenues of $259,000 through November 2024 with a net loss of $443,000, reflecting reduced production offset by lower operating expenses including lease costs of $147,000; secured a $300,000 draw on its JBB credit line extended to September 2026 with $500,000 availability, appointed BDO as independent auditor following Horne LLP's resignation, and pursues diversification via selective acquisitions in oilfield services and non-energy sectors alongside strategic joint ventures for reserve expansion.