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Independent energy company specializing in oil and gas production in the Permian Basin.
Permex Petroleum Corporation is an independent energy company focused on the acquisition, exploration, development, and production of oil and natural gas properties primarily within the Permian Basin in West Texas and Southeast New Mexico. With operations spread across more than 11,700 net acres, the company manages various producing assets, including 78 oil and gas wells and 73 royalty interests, and seeks to enhance production and cash flow through effective development strategies such as recompletion of existing wells and implementing waterflood secondary recovery techniques.
Founded in 2017, Permex Petroleum utilizes its engineering insights and market strategies to optimize existing resources while planning for future drilling initiatives. The company's operational model includes acquiring producing assets at discounts, investing in technology and infrastructure for improved recovery rates, and planning to convert undeveloped acreage into producing assets in the upcoming years. Despite challenges in the competitive oil and gas market, the company aims for growth through strategic acquisitions and operational excellence.
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