Formation Minerals Inc. Stock Analysis FOMI

Formation Minerals, Inc. is a pure play oil and gas company. The company is headquartered in Las Vegas, Nevada and currently employs 3 full-time employees. The company went IPO on 2022-12-01. The firm is an oil and gas investment asset management firm engaged in the acquisition and development of onshore oil and gas properties within the oil and gas play in the United States. The firm focuses on the acquisition of and exploitation of upstream energy assets, specifically targeting oil and gas mineral interests, oil and gas royalty interests, and select non-operated working interests. The firm holds over 50,000 gross acres of royalty interests with over 300 wells producing across the major basins of the United States (US). The firm has mineral and royalty interests in several properties across seven US states, which include Colorado, Louisiana, Ohio, Oklahoma, Texas, West Virginia, and Wyoming. A total of approximately 412 reserves cases have been identified and evaluated. These include producing, non-producing and undeveloped wells or leases.