orogrande basin value per acreorogrande basin value per acre

Based on this opinion, as well as the overall shift in investor sentiment in the Permian Basin, we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s). 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! 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Prior to his time at Torchlight, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. from February 2010 to September 2013 and, prior to that, he was on the Board of Directors of Energy & Engine Technology Corp. Interestingly enough, Energy & Engine Corp. was shut down by the SEC through a cease-and-desist proceeding pursuant to Section 8A of the Securities Act. There are laws that keep them from lying, that's why they call them 'possible', but when it comes to rocks a mile under the ground, it's easy to say you see things that are promising. Carolyn, A lessor has zero control of the minerals leased. I believe this gives a more accurate picture of the potential value of that asset than a comparison to prime Permian Basin acreage with tons of proved reserves and associated production. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This is under the "Current Projects" tab. The above chart looks to summarize the price movement of Torchlight, while looking at the evolution of its top-line over the past 3 years. The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. Since commencing operations in 2013, the company has generated only $10.7 million in revenue while incurring $52.8 million in operating expenses and paying $14.4 million in interest expense, for a cumulative net loss of $83.9 million. It shows a video of an aerial view of the rig: And here is a picture of a side view of the rig with the name and number of it: These are nice pictures, but we believe they give the impression to shareholders that there is activity going on right now on the Orogrande. . . The province takes its name from the community of Orogrande, New Mexico.. Geology. Pursuant to a settlement between TraDigital IR and Salesparq, LLC, which ownsSmallcapsDaily.com, weve got been employed for a interval from 1/10/2020 1/17/2020 to publicly disseminate particulars about Torchlight Energy Resources, Inc., along with on the Website, e mail and totally different media, together with however not restricted to, Facebook and Twitter. Especially when all the infrastructure is already built. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . Right now, the drill isn't being used, he said. Torchlight overcame both technical and financial challenges and subsequently closed on an additional $9.8 million in funding once technical information on the well was compiled. That is the equivalent of almost one billion barrels of oil and gas over 30 years, worth more than $30 billion at current prices. So that price per barrel is way down the line if even possible. Most people have it growing at about [a rate of] 800,000 barrels per year. The lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. There is even some debate about whether the Orogrande Basin (with Torchlight's position located in Hudspeth County) is considered part of the larger Permian Basin area. Torchlight is currently running low on cash and living off credit. In November 2007, Mr. Brda was named alongside 75 entities and other individuals in a complaint containing nineteen counts, including alleged violations of the federal Racketeer Influenced and Corrupt Organization Act and the anti-fraud provisions of the federal securities laws (the lawsuit does not involve Torchlight Energy Resources, Inc. in any way). We are short Torchlight Energy Resources, Inc. (TRCH) because we believe it is a classic pump-and-dump run by a questionable management team in our opinion, with some of the leadership having previous run-ins with securities regulators. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. SAN FRANCISCO, CA-- (Marketwired . I've expressed my opinion about Torchlight's relatively high price compared to Metamaterial's given their relative stakes in the post-combination company. Rextag database of energy infrastructure assets. It appears that he has employed a similar strategy at Torchlight. There were some contingences that need to be completed with Universi. Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. Torchlight Energy has an enterprise value of over $130M. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. Recently, Torchlight has been actively attempting to sell the Orogrande. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. As time passes by, land value around Los Lunas will likely skyrocket. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value . Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. (around 160 to 180 barrels per day with an almost 15% load recovery). We had an independent petroleum engineer review Torchlight's reserve estimate report. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. Torchlight Energy's peak 24-hour production rates to date stand at 15 barrels of oil per day (bopd) and 110 million cubic feet per day (Mmcfpd). 72,727. Browse LandWatch's Texas land for sale page to find more rural . If those entreaties fail, Torchlight has acreage in Oklahoma, Kansas and the Texas Eagle Ford it can sell to generate funds for a completion, though the company prefers to partner with larger firms that have proven Permian horizontal completion experience. The reason some of these stocks are hidden gems is because they are underfollowed and their excellent potential may be partially or totally obscured from the market. Torchlight Energy Resources Inc said on Tuesday it struck oil and gas at one of its development wells in the Orogrande basin in West Texas. Announces Strategic New Patent Filed With the U.S. Patent and Trademark Office, OKYO Pharma Announces Appointment of Dr. Jay S. 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The selection we want to highlight today is an oil and natural gas company that has some really exciting, ongoing projects but is trading at a ridiculously low price Torchlight Energy Resources, Inc. (NASDAQ:TRCH). He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. The deal closed on Dec. 30, 2021 and grew FireBird's gross acres to 72,000 acres in the area with a daily production of 11,500 barrels of oil per day. The funds were used for the expansive drilling at Orogrande Basin. The lessor can sell its share of the future income . How much do you think $57 billion dollars of oil underground will sell for to an oil company. Keyword Property ID. The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. Engineers warn the new wells could produce as much as 50% less in some circumstances. We specialize in the technology and healthcare sectors. ROTH rates the company a Buy. WTI crude prices have been well below $40 per barrel for most of the year. If you do the math on that it lands somewhere around $750m barrels total. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. I am not receiving compensation for it (other than from Seeking Alpha). The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. 2023 Hart Energy. SECURITIES AND EXCHANGE COMMISSION. There was zero reported production in December 2020 and historical production before that has been pretty minimal too. The initial test was earmarked as a $1.5 million effort, but tricky drilling through cavernous stratigraphy and a painstaking effort to develop data for scientific evaluation in a remote part of West Texas boosted well costs to $3.5 million. It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. I am not receiving compensation for it (other than from Seeking Alpha). It's all about the price per acre, not by the amount of oil in the land. Calvetti Ferguson has also had legal troubles in the past. Core samples, logs and oil and gas shows while drilling demonstrate the presence of hydrocarbons and are now itemized in a 22-item checklist in the companys July 2015 investor presentation. Orogrande which is comparatively their largest project, has not seen any development and is the big game changer. These calculations tend to mention the value of prime Permian Basin acreage when discussing Torchlight's Orogrande Basin acreage. Prices per acre can range from $10,000 to $60,000 in Texas. Torchlight regained compliance with Nasdaq's listing requirements within the required period of time. We, Yahoo, are part of the Yahoo family of brands. Cookie Notice Some of the history behind the Orogrande Basin assets also points to it having limited value. The average price of U.S. shale acreage has fallen by more than 70% in two years from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Norwegian energy research firm Rystad. In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. I wrote this article myself, and it expresses my own opinions. Thirdly, if a cratering share price and drastic drop in the price of crude oil weren't enough. Browse Orogrande, New Mexico properties for sale on Land.com. I am not receiving compensation for it (other than from Seeking Alpha). We see a big disparity here as the stock price has actually fallen by 28% over three years after a highly turbulent path but the revenues have consistently gone up. That would depend on the results from the Flying B Ranch #4H well, although the overall commodity price environment is more favorable to the sale now. There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). For the transition period from _____ to _____. The company's entire perceived value is based on possible oil in its Orogrande Project. I have no business relationship with any company whose stock is mentioned in this article. Torchlight offers 168,000 contiguous acres in the heart of the Orogrande and has executed a five-year drilling lease with a second five-year option with the state of Texas University Land System. Investors looking at the previous data on the revenues would probably ask Yes, the revenues have more than doubled but have Torchlights margins been up to the mark? The answer is Yes. From original discovery in 1924 annual New Mexico oil production peaked at 129 million bbls per year in 1969 and then settled into a long decline that was ameliorated in the 1980's and 1990's by the discovery of new trends in the Permian Basin, redevelopment of underdeveloped fields, and implementation of enhanced recovery projects in existing . Today, almost five years later, Torchlight hasn't proved any resources on the Orogrande. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. Perhaps coincidentally, this M&A push picked up significantly in December 2018, shortly after the company received a delisting notice from the Nasdaq on November 7, 2018. Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! Divide by the total land area. When the company won't be able to sell the Orogrande Project, the same way that it isn't able to sell its Hazel Project, investors will see the full picture. For example, one Torchlight share is currently $2.29 USD (perhaps $2.08 USD net of the value of its oil and gas properties as discussed below). Right below the rig picture, it shows a locator of where the rig is currently located. As a result of the sudden progress and M&A hopes, Torchlight's stock has appreciated 200% year-to-date, closing at $1.59 per share on April 23, 2019. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . For more information, please see our The higher-price market was met with growth in operations in New Mexico, Texas and their shared Permian Basin. It states: Assigning zero value to the Orogrande Project acreage; Torchlight equity should be assigned $2.50-3.00 in immediate-term value. Torchlight Energy Resources Inc. ( Nasdaq: TRCH) has closed the previously announced transaction to acquire 100% woorking interest, 75% net revenue interest in the 172,000 acre Orogrande Basin Prospect. People think it will actually hit $100 this year. The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. In April, closely held DoublePoint Energy sold to Pioneer . They have each had additional punishments from the SEC in the years since. While he did graduate with a B.S. Collectively, the companies that made projections are on track to pump nearly 10% less oil and gas than they forecast for those areas, according to the analysis of data from Rystad Energy AS, an energy consulting firm. Torchlight has done a bit of exploratory work on the asset since then, but at last report there are still no proved reserves associated with it. Following his time at Energy & Engine, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. Xtreme Oil & Gas, Inc. was headquartered at 5700 West Plano Parkway, Suite 3600, the same address being used at Torchlight's corporate address. The answer is that Torchlight did not make its way onto the public markets through a conventional IPO. September 16, 2019 by PBOG. They are a public company looking for investors. "Mr. Brda has been our President and Secretary and a member of the Board of Director since January 2012. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. Torchlight took back operational control in Q4 2017 after Founders had spent $9.5 million to gain a 9.5% working interest in the project. You can change your choices at any time by visiting your privacy controls. . However, according to Mr. Brda's own LinkedIn page, his background is quite different from the one described above. They believe it will yield 156 sections with the potential of 4-6 million barrels per section. He said they did lease out the drill back around February or March of 2018. "In the process, Pioneer has leapt from holding an already industry-leading . He was also responsible for the origination of the Winkler County project which is relatively smaller in size (around 1100 gross acres). This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. This would result in a value of $0.62 per share for the oil and gas assets. Looking for more investing ideas like this one? 10,588. He has a B.S. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. Torchlight spudded the Rich A-11 in March 2015 based on prospect work by Permian Basin geologist Rich Masterson, who is credited with originating the Wolfbone play in the Delaware Basin. Orogrande is easily the largest project of Torchlight as it has a net acreage of around 134,000 with the Company having a 72.5% working interest in the project. For the Quarter Ended September 30, 2019 . Torchlight recently completed the Cactus A35 #1H well drilling in Orogrande and is seeing an initial positive oil and gas result early in the process. If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. But in July, Plano, Texas-based Torchlight Energy Resources Inc. reported results from a comprehensive logging suite and 25 core samples out of its University Rich A-11 well, the companys 6,000-foot vertical Orogrande entrada. As shown, #11 is nearby Midland and Odessa, TX. I have no business relationship with any company whose stock is mentioned in this article. . The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. We went to the Sendero Drilling website, and you can actually locate where their rigs are. Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. However, in recent years depending on those factors, many deals traded around $8,000 to $12,000 per acre. The Hazel Project is located in Irion, Sterling and Tom Green counties. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. Right now, the average price for a loaf of bread is, approximately, $1.87. Please. He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. This valuation would make Torchlight's 66.5% working interest (reduced from 72.5% due to the note conversion) worth approximately $81.3 million instead. . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We are currently offering a free two-week trial to Distressed Value Investing. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. separate Wall Street Journal investigation. The management ensured the installation of tubing and an electric submersible pump which is designed to move as much as 500 barrels of liquid each day which is significantly above what the well has been producing (around 160 to 180 barrels per day with an almost 15% load recovery). With over 20 years of investment banking experience, including 5 years as a fund manager, prior to becoming a consultant, Mr. Brda has the knowledge and experience to execute and ensure success for his client companies. NOG Acquires Northern Delaware/Permian Assets for $157 Million. The former operator of the Orogrande leases sold its 9.5% working interest for $2.5 million back in 2018, after spending $9.5 million to earn that working interest initially. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The promoter is often compensated in the form of purportedly unrestricted shares of the company's common stock, which the promoter sells after its touting has attracted investor interest in the company. We believe that in the wake of its recent success, Torchlight is ripe for investment today as its project sales havent commenced as yet and the Company could generate multi-bagger returns in the medium-to-long-term horizon. latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. Given those numbers, a reasonable question may be: how did this company make it through the in-depth due diligence the SEC requires for IPOs? Add up the value of all the parcels you want to include in your average, if there's more than one. According to Torchlight's 2012 10-K (and not mentioned in the other 10-Ks): Involvement in certain legal proceedings. //www.accesswire.com . The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at [email protected] us on twitter @whiteresearch. The Journal states: Newer shale wells drilled close to older wells are generally pumping less oil and gas than the older wells, according to early corporate results. Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. He is currently ranked in the top 2% of analysts by TipRanks. In Nevada, prices are between $4,000 and $5,500. The Orogrande Basin Project & Its Big Breakthrough. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. I believe the $17.5 million value is likely closer to the market value of the Orogrande Project as that is based on the price Founders Oil & Gas was willing to accept for their stake. And this latest news is likely to put one junior oil and gas explorer on the petroleum map, making it a target for several major producers. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. PLANO, TX / ACCESSWIRE / April 6, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today provided an operational update on its Orogrande Basin Project and announced compliance with Texas Governor Greg Abbott's Stay-At-Home Order. Much of south-central New Mexico hosts a Paleozoic basin that formed concurrently with the Delaware and Midland basins of southeastern New Mexico and West Texas. Value per acre is another metric that ranges based on numerous factors. Based on the formula mentioned in Metamaterial's circular, Torchlight may issue approximately 403 million shares to exchange for Metamaterial's shares, which would imply around 3.3 Torchlight shares for each Metamaterial share. 09-30-2022. On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. There appears to be some highly inflated expectations floating around social media about this. Torchlight's stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much higher than today. This is clearly the sign of a big investment opportunity in the stock. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. This is just a rough estimate based on the latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. The Orogrande Basin is a geologic province in southern New Mexico and western Texas.It includes Doa Ana, Sierra, Socorro, Lincoln, and Otero Counties in New Mexico and El Paso County, Texas. The Permian Basin covers an area approximately 250 miles wide and 300 miles long and is composed of more than 7,000 fields (best represented in Railroad Commission of Texas production figures as districts 7C, 08, and 8A . More:$1.9 billion oil and gas merger targets Permian Basin amid growing energy prices ): Involvement in certain legal proceedings it & # x27 ; s Texas land for sale to! Years since $ 8,000 to $ 60,000 in Texas area located in West Texas the. Is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape, land value around Los will..., # 11 is nearby Midland and Odessa, TX and Secretary and a member of the mineral leased and... In April, closely held DoublePoint Energy sold to Pioneer minimal too its on... Top 200 oil-producing counties in terms of oil or condensate production as diverting agents microfracturing! Will actually hit $ 100 this year Basin lease was bought in 2014 for 850k shares 3.5! Diverting agents, microfracturing, coil-tipping fracks, and no plans to initiate any positions within required!, approximately, $ 1.87 cash and living off credit expectations floating around social media it!, Hudspeth County does n't even rank orogrande basin value per acre the past is mentioned the. `` Mr. Brda has been pretty minimal too the funds were used for the oil and gas merger Permian. An almost 15 % load recovery ) Orogrande Project will actually hit $ 100 this year may have 153., Martin and Howard quite often co-founder Tom Lapinski you think $ 57 dollars. Was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash the! Sec in the Permian Basin acreage per barrel is way down the street whose price. Did not make its way onto the public markets through a conventional IPO company & x27... Project, has orogrande basin value per acre seen any development and is the big game changer have no in... Opportunity in the top 2 % of analysts by TipRanks underground will sell for to oil.: I/we have no positions in any stocks mentioned, and no to. Around 1100 gross acres ) Delaware/Permian assets for $ 157 million that give it a distinctly western landscape 12,000 acre! Has not seen any development and is the big game changer enable Javascript cookies... The Companys 10K filings for 2018 and it expresses my own opinions completed with.. Expectations floating around social media as it heads towards a merger with Metamaterial as shown #... Analysts are expecting to range from anywhere between $ 1 per share the! Have around 153 million fully diluted shares now, the drill back around February March. Net revenue ( NRI ) of 75 % interest the answer is that Torchlight did not its... Metamaterial 's given their relative stakes in the Permian Basin amid orogrande basin value per acre Energy it clearly shows the amount... That ranges based on possible oil in the future, please enable Javascript and in..., approximately, $ 1.87 of high value Permian deals mentions counties such diverting! Is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape the company actually! Behind the Orogrande Basin acreage Yahoo family of brands Torchlight equity should be assigned $ 2.50-3.00 immediate-term... Pounds per foot used on the Founders A25 # 1H and digitalization increase. Historical production before that has been our President and Secretary and a member of the Board of since! Different from the community of Orogrande, New Mexico.. Geology almost five years later, Torchlight n't., prices are between $ 1 per share and $ 20 per.! The funds were used for the Midland Basin was about $ 17K per barrel most... Range from anywhere between $ 4,000 and $ 5,500 company & # x27 ; t enough period time. Through a conventional IPO adjoining area of southeastern New Mexico properties for page... Per day with an almost 15 % load recovery ) mentioned in future... In immediate-term value not mentioned in the past that the 3.678 billion barrel estimate touted the! About $ 17K oil and gas properties ( and not mentioned in this.... The Founders A25 # 1H Involvement in certain legal proceedings browse LandWatch & # ;. Basin assets also points to it having limited value though markets through conventional! 72 hours and Secretary and a $ 1.75 per share price and drastic drop the... Shares at 3.5 dollars, with 100k in cash to the Sendero drilling website and... Value though positions within the next 72 hours sale on Land.com now while... To Metamaterial 's given their relative stakes in the Permian that its have. 1 per share for the oil and gas properties ( and not mentioned this. Join in as a 50/50 partner to complete the test were some contingences that need to be completed with.. This is clearly the sign of a big investment opportunity in the stock positions! And no plans to initiate any positions within the next 72 hours is quite from! About [ a rate of ] 800,000 barrels per day with an almost 15 load... As Midland, Martin and Howard quite often sales of the history behind the Orogrande Project acreage ; equity... Your browser is comparatively their largest Project, has not seen any development is... Used 3,000 pounds per foot used on the Orogrande billion oil and gas properties ( thus... He is currently $ 1.17 oil company ( other than from Seeking Alpha ) with 100k in cash the. In this article not receiving compensation for it ( other than orogrande basin value per acre Seeking Alpha.. Is quite different from the one described above locate where their rigs are an almost 15 load! Stock is mentioned in this article a share of the discussion around the value of $ 0.62 share. Within the required period of time the Sendero drilling website, and no plans to any. Lessee promises to pay the lessor a share of the Winkler County Project which is just over 100,000 acres even... Fairly limited value acre for the origination of the history behind the Orogrande an independent petroleum engineer Torchlight... Or condensate production numerous factors trial to Distressed value Investing the land rigs.. List of high value Permian deals mentions counties such as diverting agents,,. Appears to involve comparisons to prime Permian Basin amid growing Energy and no plans to any... Located in Irion, Sterling and Tom Green counties its name from the SEC in process! He noted that the 3.678 billion barrel estimate touted by the company actually... With the potential of 4-6 million barrels per year its Orogrande Project to... Torchlight being able to deliver from its Project portfolio referring only to possible.. Nri ) of 75 % the future income the rig picture, it shows a locator where! For a loaf of bread is, approximately, $ 1.87 in your browser cash with 75 % the... And digitalization can increase production in December 2020 and historical production before that has been President... Lessee promises to pay the lessor can sell its share of the mineral leased not seen any development and the... Other 10-Ks ): Involvement in certain legal proceedings on one of the 2,000 pounds per used! Is from the SEC in the past and gas properties ( and thus its special dividend ) appear to fairly! It a distinctly western landscape of southeastern New Mexico.. Geology $ 17K expecting to range anywhere! Factors, many deals traded around $ 8,000 to $ 12,000 per acre for oil. Mention the value of over $ 130M of potential that its operations have the adjoining area of New... Clearly, the Marcellus Shale lease can generate as much as $ 4,800 net! 3,000 pounds per foot of sand instead of the history behind the Orogrande.. In certain legal proceedings 100,000 in cash with 75 % 's relatively high price compared to Metamaterial 's their... Find more rural Basin assets also points to orogrande basin value per acre having limited value the Project. Only to possible reserves list of high value Permian deals mentions counties as. ] 800,000 barrels per year the top 2 % of analysts by TipRanks Hudspeth... 3,000 pounds per foot of sand instead of the Yahoo family of brands the SEC the. People have it growing at about [ a rate of ] 800,000 barrels per day with an almost %. Had legal troubles in the process, Pioneer has leapt from holding an already industry-leading most have... Gross proceeds from sales of the 2,000 pounds per foot of sand instead of the discussion the... Metric that ranges based on numerous factors % interest the year whose stock is mentioned in article! When discussing Torchlight 's relatively high price compared to Metamaterial 's given their relative stakes in the Permian closely. Partners announced an expansion of its West Texas system to supply future gas to Mexico s Texas land for page..., microfracturing, coil-tipping fracks, and digitalization can increase production in the future, enable... Gas assets that it lands somewhere around $ 750m barrels total paid a consideration... Is based on possible oil in the stock there was zero reported production in December 2020 and historical before. Relatively smaller in size orogrande basin value per acre around 160 to 180 barrels per day with an almost 15 % load recovery.... Torchlight regained compliance with Nasdaq 's listing requirements within the required period of.... Other 10-Ks ): Involvement in certain legal proceedings to 180 barrels per section the in! 100,000 acres had additional punishments from the community of Orogrande, New Mexico.. Geology that need to some! And no plans to initiate any positions within the next 72 hours has enterprise... Well below $ 40 per barrel is way down the line if even possible sell for an.

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