West Texas Resources (West Texas Resources) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2023)

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What is West Texas Resources Long-Term Capital Lease Obligation?

West Texas Resources's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $0.00 Mil.

West Texas Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for West Texas Resources's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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West Texas Resources Long-Term Capital Lease Obligation Chart

West Texas Resources Annual Data

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Long-Term Capital Lease Obligation

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West Texas Resources Quarterly Data
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West Texas Resources (OTCPK:WTXR) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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West Texas Resources (West Texas Resources) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » West Texas Resources Inc (OTCPK:WTXR) » Definitions » Long-Term Capital Lease Obligation

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Address

5729 Lebanon Road, Suite 144, Frisco, TX, USA, 75034

Website

http://www.westtexasresources.com

West Texas Resources Inc is a United States-based company engaged in the acquisition, exploration, and development of oil and gas properties in North America. The Company targets both new and existing fields and producing wells to be revitalized.

West Texas Resources (West Texas Resources) Headlines

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