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Permex Petroleum opens new office in Dallas to take advantage of next oil bull cycle

The move strengthens its partnerships with local investment bankers, operators, marketers and agencies in the region

Permex Petroleum Corporation -
The company has assets across the Permian Basin of west Texas and the Delaware Sub-Basin of New Mexico

Permex Petroleum Corporation (CSE:OIL) has taken the next step in its growth strategy - by opening a new office in Dallas, Texas. 

The Vancouver-headquartered oiler said the move strengthens its partnerships with local investment bankers, operators, marketers and agencies in the region.

READ: Permex Petroleum sees big jump in fiscal third quarter revenue

The firm has assets across the Permian Basin of west Texas and the Delaware Sub-Basin of New Mexico.

"The decision to expand into the Dallas/Fort Worth Metroplex was a logical step in our business growth strategy," said Mehran Ehsan, chief executive at Permex Petroleum.

"Some of the most sophisticated and influential oil and gas operators in the world are in this region, and it's critical that we position Pemex to take advantage of the next bull cycle within our industry."

Ehsan said that was the reason he personally decided to relocate his entire family to the Dallas region.

"We look forward to building strong partnerships with Texas-based companies that seek to expand their presence in oil and gas projects in west Texas. While competition in the U.S. energy sector is strong, we believe our Dallas office will significantly contribute to Permex's growth in North America."

Shares were unchanged in Toronto at C$0.030.

Contact the author at [email protected]

Quick facts: Permex Petroleum Corporation

Price: 0.045 CAD

CSE:OIL
Market: CSE
Market Cap: $1.8 m
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