BRENHAM, TX / ACCESS Newswire / July 14, 2026 / West Texas Resources, Inc. (OTCID:WTXR) ("WTXR" or the "Company") today announced the acquisition of a package of producing oil and gas assets consisting of eight producing wells in Jackson County, Texas, and one producing gas well in Fort Bend County, Texas.
The acquired properties are expected to significantly expand the Company's production profile and strengthen its long-term cash flow generation as WTXR continues executing its strategy of building a diversified portfolio of producing energy assets.
According to current engineering and operational estimates, the eight Jackson County wells are expected to produce a combined average of approximately 300 barrels of oil per day (BOPD) together with approximately 1.5 million cubic feet of natural gas per day (MMCFD).
The producing gas well located in Fort Bend County is expected to produce approximately 300 MCF of natural gas per day, together with associated condensate production.
Based on current commodity prices of approximately $70 per barrel of oil and $3.20 per MCF of natural gas, management estimates that the acquired properties have the potential to generate approximately:
Approximately $630,000 per month in gross oil revenue.
Approximately $145,000 per month in gross natural gas revenue.
This represents estimated combined gross production revenue of approximately $775,000 per month before royalties, operating expenses, taxes and other customary deductions.
The Company further estimates that approximately $1.5 million will be invested for hook-ups, facility upgrades, and minor repairs necessary to optimize production and assume full operational control. Based on current production projections and commodity prices, management believes this investment could potentially be recovered in approximately two months, although actual results may differ depending on production performance, commodity prices, operating costs, and other factors.
Operations on the acquired properties will be conducted through Texas Coastal Energy (TXCE), the Company's wholly owned operating subsidiary, which will assume operational responsibility for the assets.
Following completion of the transition process, TXCE intends to conduct additional production optimization activities, including updated deliverability testing and operational reviews designed to maximize long-term production and recovery.
Donald H. Goree, Chief Executive Officer of West Texas Resources, stated:
"This acquisition represents another important milestone in executing our strategy of acquiring high-quality producing energy assets with attractive cash flow characteristics. These properties immediately strengthen our production base while providing significant opportunities for operational improvements and future reserve development. Through Texas Coastal Energy, we intend to optimize these assets and continue building a strong operating platform capable of creating substantial long-term value for our shareholders."
The Company expects to provide additional operational updates as the transition progresses and as Texas Coastal Energy completes its initial evaluation and optimization program.
About West Texas Resources, Inc.
West Texas Resources, Inc. (OTCID:WTXR) is an energy company focused on the acquisition, development, and operation of producing oil and natural gas assets throughout the United States. Through its wholly owned subsidiary, Texas Coastal Energy, the Company seeks to acquire cash-flowing energy properties while implementing operational improvements designed to enhance production, reserves, and long-term shareholder value. WTXR is also expanding its strategic initiatives through the acquisition of technology assets that support innovation and efficiency across the energy sector.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding expected production volumes, estimated revenues, anticipated cash flow, reserve potential, capital expenditures, operational improvements, optimization plans, payback periods, future acquisitions, and other statements that are not historical facts. Forward-looking statements are based on management's current expectations, estimates, and assumptions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks include, among others, fluctuations in oil and natural gas prices, production performance, reserve estimates, operational risks, regulatory approvals, financing availability, market conditions, and other factors beyond the Company's control. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.
Investor Relations
Erin Maire
Erin@West-Texas.com
Contact Investor Relations through the Company's website:
www.West-Texas.com
SOURCE: West Texas Resources, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/west-texas-resources-announces-acquisition-of-nine-producing-texas-oil-and-gas-w-1190921
