Houston Natural Resources Corp Reports Q3 Financials September 30, 2022
Houston Natural Resources Corp. (OTC: HNRC) reported financial results for the nine months ending September 30, 2022, showcasing a 13% increase in revenues to $14.21M and a 29% rise in net earnings to $8.16M, equating to an EPS of $0.16. The company's total assets surged 27% to $93.59M. Significant activities include a planned OTCQB uplisting and a $53M spin-off of non-energy assets.
- Total revenues increased by 13% to $14.21M YTD.
- Net earnings rose by 29% to $8.16M YTD, resulting in an EPS of $0.16.
- Total assets increased by 27% to $93.59M as of September 30, 2022.
- The company plans to uplist to OTCQB in Q4 2022.
- Successful acquisition of a 9% interest in Cunningham Energy, LLC valued at $218M.
- None.
Revenues 2022 YTD +
HOUSTON, Nov. 1, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today record results for the financial period ending September 30, 2022.
The company's total revenues increased
The company's net assets have increased
In the first quarter the company sponsored HNR Acquisition Corp a special purpose acquisition corporation that raised
In the second Quarter the company announced a
In the third quarter the company announced the acquisition of a
Houston Natural Resources Corp. (OTCMKTS: HNRC) (www.hnrcholdings.com) is a diversified energy company with oil and gas interests as well as wastewater treatment facilities. The Halff Oil Field in Crockett County, Texas, 83 oil wells, estimated 33 million barrels of oil and water treatment and appraised reserves of
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
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SOURCE Houston Natural Resources Corp
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