Houston American Energy Corp., an independent oil and gas company, engages in the exploration, development, and production of natural gas, crude oil, and condensate in the United States. Its oil and gas properties are located primarily in the Texas Permian Basin, the onshore Texas and Louisiana Gulf Coast region, and in the South American country of Colombia. As of December 31, 2021, the company owned interests in four gross wells. Houston American Energy Corp. was incorporated in 2001 and is based in Houston, Texas.
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Here are 1-3 brief analogies to describe Houston American Energy (HUSA):
- An early-stage tech startup, but focused on finding oil instead of developing software or hardware.
- A small biotech company focused on drug discovery, but their 'discovery' is finding new oil reserves.
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- Crude Oil: The company engages in the exploration, development, and production of crude oil from its various properties for sale.
- Natural Gas: HUSA also explores for, develops, and produces natural gas from its properties, which is then sold.
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Houston American Energy (symbol: HUSA) primarily sells its oil and natural gas production to other companies, rather than directly to individuals.
Its major customer, as identified in recent SEC filings (such as the 2022 Annual Report on Form 10-K), is:
- MacKenzie Offshore LLC: This private company accounted for approximately 75% of Houston American Energy's total revenues in 2022. As a private company, it does not have a public stock symbol.
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Peter F. Longo, Chief Executive Officer and Chief Financial Officer
Mr. Longo was appointed President and Chief Executive Officer of Houston American Energy Corp. on November 11, 2024. He assumed the additional role of Chief Financial Officer on February 18, 2025. Prior to joining Houston American Energy, Mr. Longo served as Chairman of Cyient, Inc., the U.S. subsidiary of Cyient, Ltd., a global management services provider in engineering, manufacturing, geospatial, network, and operations management. He also had a distinguished 30-year career at United Technologies Corporation (UTC), where he served as Senior Vice President of Operations from 2016 to 2018, and as CFO and CIO at various UTC business units, including UTC Aerospace Systems, Pratt & Whitney, Sikorsky, and Hamilton Sundstrand, before his retirement from UTC prior to its merger with Raytheon Corporation. Mr. Longo is a Certified Public Accountant since 1981 and holds a bachelor's degree in accountancy from Bentley University.
Stephen Hartzell, Chairman of the Board
Mr. Hartzell currently serves as the Chairman of the Board of Houston American Energy Corp. He previously held the position of Acting Chief Financial Officer from November 2024 until February 2025, when Peter Longo assumed the CFO role. Mr. Hartzell brings extensive experience in geology and various leadership roles to the company. [cite: 10 in original search, 13 in original search] He is also involved in multiple board committees and serves without additional compensation as Chairman, demonstrating his dedication to the company's growth and stability. [cite: 10 in original search, 13 in original search]
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The accelerating global transition to cleaner energy sources presents a clear emerging threat to Houston American Energy (HUSA). This trend is manifesting in several ways:
Decreasing long-term demand for fossil fuels: As electrification of transportation, industrial processes, and power generation advances, supported by government policies, technological improvements in renewables, and shifting consumer preferences, the overall demand for crude oil and natural gas is projected to decline over time. This directly threatens the market for HUSA's core products.
Increasing difficulty in accessing capital and investment: A growing number of institutional investors, banks, and financial institutions are divesting from fossil fuel companies or imposing stricter Environmental, Social, and Governance (ESG) criteria. This makes it increasingly challenging and costly for independent oil and gas producers like HUSA to secure the necessary capital for exploration, development, and operational maintenance, potentially limiting their growth and sustainability.
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Houston American Energy (HUSA) operates in two primary markets: oil and natural gas exploration and production, and the emerging sector of converting waste plastics into low-carbon fuels and chemical feedstocks.
Oil and Natural Gas Exploration & Production
The global oil and gas exploration and production market was valued at approximately USD 5,820.40 billion in 2024 and is projected to grow to around USD 18,986.90 billion by 2035, with a compound annual growth rate (CAGR) of 11.35% from 2025 to 2035. Another estimate indicates a global market size of USD 5,832.37 billion in 2024, forecasted to reach USD 17,926.77 billion by 2034 with an 11.8% CAGR. The United States oil and gas market, a key region for HUSA's historical operations, was valued at USD 453.2 billion in 2024, expected to reach USD 474.5 billion in 2025, and is projected to be worth USD 665.5 billion by 2033, growing at a CAGR of 4.7% from 2024 to 2033. The upstream sector, which includes exploration, development, and production, dominated the U.S. market in 2024.
Conversion of Waste Plastics into Low-Carbon Fuels and Chemical Feedstocks (Renewable Energy)
As of the current information, specific addressable market sizes for the conversion of waste plastics into low-carbon fuels and chemical feedstocks, bio-fuel products, or sustainable aviation fuels directly attributable to HUSA's new operational focus are not explicitly detailed in the provided search results. While HUSA has acquired Abundia Global Impact Group (AGIG) to pursue this strategic transformation, and is developing a plastics recycling facility and innovation hub in Texas, the overall market size for these specific new product lines is not available.
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Houston American Energy (HUSA) is undergoing a significant strategic transformation, shifting its focus from traditional oil and gas exploration to becoming an integrated energy and technology company with a strong emphasis on renewable energy. The expected drivers of future revenue growth over the next 2-3 years are primarily tied to this pivot and include:
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Expansion into Renewable Fuels and Chemicals through Acquisitions: A primary driver of future revenue growth for HUSA is its strategic acquisition of Abundia Global Impact Group (AGIG) and RPD Technologies. AGIG specializes in converting waste plastics into high-value, low-carbon fuels and chemical feedstocks, positioning HUSA to capitalize on the growing renewable energy market. The RPD Technologies acquisition is expected to contribute established revenue from petrochemical clients and technical expertise, with both entities co-locating to foster operational efficiencies and expanded services.
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Commercialization of Plastics Recycling Technology and Facilities: HUSA plans to construct the Abundia Innovation Center and its inaugural plastics recycling plant at Cedar Port Industrial Park in Baytown, Texas. This facility aims to convert plastic waste into renewable fuels and chemical products, marking a direct avenue for new revenue streams as these operations scale. Groundbreaking for the first phase of this development occurred in October 2025.
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Entry into the Sustainable Aviation Fuel (SAF) Market: The acquired AGIG technology, which focuses on converting waste into valuable fuels, is specifically targeting the high-growth market for sustainable aviation fuel (SAF). This represents a significant new market for HUSA, with the potential for substantial revenue generation as demand for low-carbon aviation solutions increases.
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Diversification within the Energy Transition Sector: HUSA's overall strategy is to diversify its portfolio within the broader energy transition sector. By moving beyond its traditional oil and gas assets, the company aims to tap into emerging opportunities in sustainable fuels and energy transition technologies, thereby creating new avenues for revenue growth and shareholder value.
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Houston American Energy (HUSA) has made the following capital allocation decisions over the last 3-5 years:
Share Issuance
- In January 2025, Houston American Energy announced a registered direct offering of 2,600,000 shares of common stock at $1.70 per share, expected to generate gross proceeds of approximately $4,420,000.
- In June 2025, the company announced a registered direct offering of 223,762 shares of common stock (or pre-funded warrants) at $10.60 per share, expected to raise approximately $2.37 million in gross proceeds, with net proceeds of about $2.1 million intended for general corporate purposes.
- Also in June 2025, HUSA entered into a definitive agreement to sell 81,629 shares of common stock at $14.80 per share, expected to generate gross proceeds of approximately $1.2 million, with net proceeds of roughly $1 million for general corporate purposes.
- In April 2025, a special meeting was planned to approve the issuance of 245,755,684 shares of common stock as part of a Share Exchange Agreement to acquire Abundia Global Impact Group, LLC (AGIG), which would result in Abundia Financial owning approximately 84.6% of HUSA's common stock. The proposal also included an increase in the number of authorized shares of common stock from 20,000,000 to 300,000,000.
- In January 2020, Houston American Energy raised $4.49 million in net proceeds from the sale of common stock under an "at-the-market" (ATM) sales program at an average price of $0.21 per share.
Outbound Investments
- In July 2025, HUSA acquired Abundia Global Impact Group, LLC (AGIG), a technology-driven platform specializing in the conversion of waste plastics into low-carbon fuels and chemical feedstocks.
Capital Expenditures
- In January 2020, proceeds from a stock sale were expected to fully fund the company's 2020 drilling budget and establish a cash reserve for operations and future projects.
- In October 2025, Houston American Energy and its wholly-owned subsidiary, Abundia Global Impact Group (AGIG), announced the groundbreaking for Phase One of the Cedar Port development plan in Baytown, Texas, which includes the construction of the Abundia Innovation Center and a Research and Development Facility.
