October 17, 2017

History

Nortex Corporation was founded in 1957 by Al W. Dugan, an independent oil and gas operator.  Mr. Dugan had been engaged in various phases of exploration and mining business since 1952 and participated in numerous projects both foreign and domestic.

Mr. Dugan co-founded public companies including Duquesne Natural Gas (1965), Oxoco (1975), Texon Energy Corp. (1976) and Crown Resources (1986).   Affiliated private Companies owned or founded by Mr. Dugan include Delaware Royalty Company, Inc., Houston Resources Corp. and Anglo Exploration Corporation.

Beginning in the 1980’s, Nortex embarked on a business plan focusing on the acquisition of non-operating working interests, royalties and overriding royalties.  The emphasis was on gas production and a bias towards large acreage positions for future development.  These parameters have allowed Nortex to continue to grow its oil and gas asset base through development of its currently held-by-production acreage.