Spindletop Oil and Gas Co (SPND) Financial

Spindletop Oil & Gas Co. engages in the exploration, development, production and acquisition of oil and natural gas. The company is headquartered in Dallas, Texas and currently employs 15 full-time employees. The firm is engaged in the exploration, development, production and acquisition of oil and natural gas; and through one of its subsidiaries, the rental of oilfield equipment and the gathering and marketing of natural gas. The Company’s segments include exploration, acquisition, development and production of oil and natural gas, natural gas gathering, and commercial real estate investment. The firm is also engaged in commercial real estate leasing through leasing office space to non-related third-party tenants. The company is focused on oil and gas operations principally in Texas, although it operates properties in five states, including Texas, Oklahoma, New Mexico, Louisiana, and Alabama. In addition, the Company, through Prairie Pipeline Co. (PPC), owns several miles of pipelines associated with Company-operated oil and natural gas properties in Texas which are used for the gathering of natural gas.