Spindletop Oil & Gas Co. (SPND)

Spindletop Oil & Gas Co., an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas in Alabama, Arkansas, Louisiana, Oklahoma, New Mexico, and Texas, the United States. The company holds approximately 76,785 gross acres under lease in 14 states. As of December 31, 2021, its net proved crude oil and natural gas reserves were 186,690 barrels of oil and condensate; and 5,184 billion cubic feet of natural gas. The company is also involved in the rental of oilfield equipment and commercial real estate leasing business. In addition, it owns various miles of pipelines located in Texas, which are used for gathering natural gas, as well as transporting natural gas produced by the company and third parties. The company sells crude oil and natural gas to oil and gas companies, brokers, pipelines, and distributors, as well as oil and natural gas properties, which are acquired and sold to oil and natural gas development entities. Spindletop Oil & Gas Co. was founded in 1985 and is headquartered in Dallas, Texas.