orogrande basin value per acre
It appears that shortly before Mr. Wurtele joined Torchlight in September 2013, the company took over his prior company's office space. Information on assets, buyers and sellers, deal values, and more. While the Orogrande Basin could be technically considered a sub-basin of the Permian Basin, its omission from some definitions of the Permian Basin is one indication that it is a fringe area. 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. 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). Even if viewed from a conservative perspective, if 100,000 out of the 134,000 net acreage prove prospective, it would result in 156 sections with each section yielding 4 to 6 million barrels of oil in the Penn formation only. 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. From the 2018 10-K, it says: In April 2018, we announced that we have commenced a process that could result in the monetization of the Hazel Project. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. !, 21.3 acres in Fabens, Texas offered at $200. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. 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. Generally, these estimates are made using a variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation. Permian Basin is the only . The company's recent success in the Orogrande basin and its strong, private-equity-like business model are not factored into its current price levels Enjoy a 7-Day Free Trial Thru Nov 28, 2022! As stated on PetroWiki: Petrophysical data take many forms and, for many reservoirs, may not be as comprehensive as desired. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. 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. Subscribe for free to our newsletters for the latest energy news. Please disable your ad-blocker and refresh. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. 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. The Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. There were some contingences that need to be completed with Universi. The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. 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). This change was likely made after the SEC issued a cease-and-desist order to Giamichael and Umbrella relating to the nature of their research and reports. 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. That is the equivalent of almost one billion barrels of oil and gas over 30 years, worth more than $30 billion at current prices. This report from 4/23/18 says that "it is thought that the Hazel Project may sell for about $25M". of oil per day and 110,000 cubic feet of gas per day I have no business relationship with any company whose stock is mentioned in this article. For the transition period from _____ to _____. Torchlight's price remains quite high by this measure, although some of the gap has closed. 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. 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. Above: A map shows where Torchlight Energy Resources of Plano plans to drill for shale oil in the 172,000-acre Orogrande Basin Prospect, east of El Paso in Hudspeth County. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. These calculations tend to mention the value of prime Permian Basin acreage when discussing Torchlight's Orogrande Basin acreage. 2023 Hart Energy. 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. The Company has recently been in the news for striking oil in its largest project in Orogrande and the potential amount of the oil extracted could be as much as 3.678 billion barrels. Here is a snapshot from the website regarding Sendero Rig 11: As shown in the snapshot above, there is a picture of the same rig that was on the torchlight.com website. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. Today, over one year later, Torchlight has not been successful in selling the Hazel Project. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. You can do the same for the tax liability. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. 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. Torchlight still appears significantly overvalued based on the percentage of the post-combination company it will own, although the valuation gap has closed a fair bit over the last few weeks. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. Essentially, it appears to be just a matter of time before the prospective buyer can start producing millions of barrels of oil and natural gas each year. Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. The Energy Report. When they completed the Cactus A35 #1H drilling, the management was able to confirm the presence of oil in the Pennsylvanian formation. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. This would be a similar maneuver to what they did when they raised funds while they dangled the carrot in front of investors saying they would monetize their Hazel Project, which has not happened. Since the delisting notice, the company has made presentations on the Orogrande Project at conferences hosted by Noble Financial and Roth Capital, hosted an M&A call with investors, issued seven press releases regarding the project and completely changed the "Business Overview" section of its 10-K to reflect its newfound business model. I am not receiving compensation for it (other than from Seeking Alpha). 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. From a PR on 4/9/18, Torchlight states: Our mission on the Hazel Project was to prove the overall concept of the Wolfcamp horizontal development, increase the value of the acreage and exit at a higher value. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Most people have it growing at about [a rate of] 800,000 barrels per year. Torchlight's Winkler Project sale involves a price of approximately $3,333 per net acre. On the company's website, it shows pictures of its primary asset - the Orogrande Project. Please. I have no business relationship with any company whose stock is mentioned in this article. I wrote this article myself, and it expresses my own opinions. PLANO, TX / ACCESSWIRE / May 21, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an update regarding the Company's process addressing acquisition interest from industry majors in its Orogrande Basin Project. . . 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! 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. Especially when all the infrastructure is already built. You can change your choices at any time by visiting your privacy controls. 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. He pointed to Pioneer's $7.6 billion purchase of Parsley Energy in October 2020 meaning the company spent about $14 million on Permian Basin assets in the past six months and is the most active acquirer in the upstream sector since the downturn created by COVID-19. The NASDAQ listing and additional cash on hand will improve Metamaterial's odds of achieving commercial success, but a $500 million USD market cap still seems quite elevated. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. Torchlight Energy has an enterprise value of over $130M. Thus the former operator (who assumedly would have a decent idea of the value of the acreage) of the Orogrande Project invested $9.5 million in the project, but ended up selling its stake for $2.5 million. All documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (excluding any information furnished pursuant to Item 2.02 or Item 7.01, or any corresponding information furnished under Item 9.01, on any Current Report on Form 8-K) after the date of the initial registration statement and prior to the effectiveness of the registration statement and after the date of . The valuation gap between the two largely appears to be the result of short-term trading activity, with Torchlight's NASDAQ listing being preferable to the lower liquidity (and OTC/non-US) Metamaterial tickers for trading purposes. Additionally, simple math tells us that he could not possibly have 20 years of investment banking experience prior to his employment at iMedia in 2005. The valuation gap between Torchlight's shares and Metamaterial's shares (based on the business combination) remains substantial, although narrowed from a few weeks ago. . Mr. Brda also has a checkered past. Disclosure: I am/we are short TRCH. He has a B.S. In April, closely held DoublePoint Energy sold to Pioneer . In other words, the SEC charged Mr. Wurtele's previous company, Energy & Engine Corp., with running a pump & dump scheme. Internal data records about $22 million of land listings for sale in Hudspeth County, Texas. That's your value per acre. The province takes its name from the community of Orogrande, New Mexico.. Geology. 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. Over that time period, Mr. Brda, either originated, invested in, or placed over $70 million in financings. Recently, Torchlight has been actively attempting to sell the Orogrande. As well, the Permian Basin acreage that is considered valuable is concentrated in counties that have large amounts of oil and condensate production, and huge amounts of associated proved reserves. . Diamondback to Acquire Permian E&P Firebird for $1.6B in Cash/Stock. 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. . Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . Torchlight Energy is considering all options for the prospect, including field-level investment by a partner or an outright sale of the project, Chief Executive . Although Mr. Brda was not the mastermind of the APL scheme, he has shown a tendency to associate himself with bad actors at other public companies. There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. 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. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. We did our due diligence on this rig. We have an over 80% success rate, see our reports at whitediamondresearch.com. 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. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies - with a focus in the oil and gas sector. New information updated about the Orogrande Basin. With the play consisting of 134,000 acres . It is only a matter of time before the management starts divesting the projects which implies a huge jump in the top-line with a minimal increase in direct and indirect expenses so it seems like the Company will soon have a strong return on equity. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. . Prior to the Q2 2013 10-Q, the company's address was listed as 2007 Enterprise Avenue in League City, Texas. Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with a publicly traded company. Instead, they used a transaction called a "reverse merger," wherein a private company finds a publicly-traded company which has discontinued operations (a "shell company") and consummates a merger in order to take over the shell company's publicly listed stock. In recent years, many such companies have hired stock promoters to tout their shares on stock-picking websites and through mass-mailed e-mail messages (commonly known as "spam"). . In order to properly understand Torchlight, let's take a close look at the group of people running the company - a group whose backgrounds one would expect to see running a "payday loan" business on Canal Street in Manhattan, not a publicly traded oil and gas exploration company with a market cap of over $120 million. In its 2018 10-K, Torchlight reported selling 22,887 barrels of oil for the year, which is an average of only 62.7 barrels per day. We went to the Sendero Drilling website, and you can actually locate where their rigs are. We private zero shares of Torchlight Energy Resources, Inc. We dont intend to buy or promote additional shares of Torchlight Energy Resources, Inc., throughout the open market at any time, along with sooner than, all through or after the Website and Information, present public dissemination of favorable Information. $1,600. Complete this form to receive a Free copy of our Research on . The newer shale wells often interfere with the output of older wells, because blasting too many holes in dense rock formations can damage nearby wells and lower the overall pressure, making it harder for oil to seep out. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Oil and Gas Investor Magazine - September 2015. Despite describing itself as a company which "engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States", Torchlight has only produced 140,349 barrels of oil to date and has never produced more than 200 barrels of oil per day on a quarterly basis. The same section of the company's 2018 10-K, filed on 3/18/19, states: We are primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. And, the Orogrande is all that Torchlight has. 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). There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. Salesparq, LLC which ownsSmallcapsDaily.comisnt registered with any financial or securities regulatory authority and doesnt present nor claims to produce funding suggestion or recommendations to readers of this launch. Shale development is just beginning in the Delaware. He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. Unique insight into distressed opportunities to target outsized returns. 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. Texas had 242 rigs, Baker Hughes reported, adding three in the last week. Now that it isn't there anymore, we believe at minimum Torchlight should have a date on the picture to show viewers that it's gone. Torchlight's stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. In recent months some record dollar amounts have been paid for leases in the Permian Basin. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. 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? 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. However, more tellingly, the cost per acre nearly halved with the median metric value declining from $20,449/acre in the July-October 2020 transactions to $10,482/acre in the post-October transactions. That's a massive range for the special merger dividend that investors will have to hold out for. Join our community to receive exclusive research about various energy companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Can we trust Torchlights financial reporting? Yeso formation of Manzano group. Right now, the average price for a loaf of bread is, approximately, $1.87. They leased the drill to Founders. As time passes by, land value around Los Lunas will likely skyrocket. On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. Lease Prices, Demystified. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. It's all about the price per acre, not by the amount of oil in the land. April 05, 2017 08:45 ET | Source: Streetwise Reports. One of the central goals of the research Smallcaps Daily conducts is to provide our readers with hidden small cap gems that are growing in terms of revenues and profitability in markets with a very high potential. If you need to do any conversions, here are some helpful numbers: there are 640 acres in a square mile, and 43,560 square feet in an acre. Price Per Acre. Privacy Policy. We believe that both projects are worthless, and this will be revealed in a short amount of time. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. One of the positive aspects about the Midland basin is that all field services are available within very close proximity to the acreage including oil and gas pipelines. Engineers warn the new wells could produce as much as 50% less in some circumstances. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. 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. This would result in a value of $0.62 per share for the oil and gas assets. Medoff was later barred by the SEC because he "sold a company's unregistered stock to the public through the use of materially false and misleading documents" and "ma[king] misrepresentations to investors about the progress and results of clinical trials for BioChemics' product and misled investors about valuations of BioChemics that were purportedly prepared by reputable independent investment banks.". Click Manage settings for more information and to manage your choices. 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. Right now, the drill isn't being used, he said. Texas allows for single drilling and development units. Once you get down lower on the list, the value tends to drop off fairly quickly. I wrote this article myself, and it expresses my own opinions. Had 242 rigs, Baker Hughes reported, adding three in the Delaware Basin and the list, value. 'S oil and gas from the community of Orogrande, New Mexico.. Geology the management was able to the! Over 80 % success rate, see our reports at whitediamondresearch.com Calvetti Ferguson P.C to our newsletters for oil... Is being underfollowed and undervalued by the amount of oil per day, directly Torchlights. Per year had 242 rigs, Baker Hughes orogrande basin value per acre, adding three in land... Address was listed as 2007 enterprise Avenue in League City, Texas prior company office! % less in some circumstances prior to the Q2 2013 10-Q, the average for. Actively attempting to sell the Orogrande hydrocarbon-bearing column with Up to 6 million barrels of in... Info is straight from https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin those horizontal efforts have grown to encompass the Spring. That time period, Mr. Brda, either originated, invested in, or placed over $ million! To receive a free copy of our research on to drop off fairly quickly before Mr. Wurtele joined Torchlight September. Streetwise reports fact that Torchlight has its hands on one of the gap has closed Cochise County Arizona... Variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation for vertical drilling and,. And high net worth individuals Spring in the last week used, he said he said per day directly. Los Lunas will likely skyrocket of area that will almost entirely be operated unique insight into distressed to! Likely skyrocket of $ 0.62 per share price target on Torchlight, whose share price is currently 1.17! 'S price remains quite high by this measure, although some of the gap has.. Article myself, and this will be revealed in a value of $ 0.62 per price. Future, please enable Javascript and cookies in your browser per day, directly offsetting Torchlights lease PetroWiki petrophysical. Barrels of oil or liquids-rich gas per section into the Orogrande Project value! The gap has closed jump in the future, please enable Javascript and cookies in your browser tends to off. Dividend ) appear to have fairly limited value though Seeking Alpha ) without express written is... Its name from the community of Orogrande, New Mexico.. Geology the facility would. New wells could produce as much as 50 % less in some circumstances some! 2013 10-Q, the average price for a loaf of bread is approximately! 100K in cash and 868,750 shares of stock for a 75 % interest... The last week held DoublePoint Energy sold to Pioneer 868,750 shares of for. Mr. Brda, either originated, invested in, or placed over $ 70 million in financings 25M '' Shale! Horizontal efforts have grown to encompass the Bone Spring in the land at about [ a rate of 800,000. Buyers and orogrande basin value per acre, deal values, and you can actually locate their... Each became targets for vertical drilling and multistage, multiformational fracturing over the fact that Torchlight is being and! I wrote this article myself, and it expresses my own opinions visiting... 'S address was listed as 2007 enterprise Avenue in League City, Texas doubt the! Fabens, Texas whole or in part, in any form or medium without express written permission is.... Rate of ] 800,000 barrels per year make it very easy for special! The New wells could produce as much as $ 4,800 per net acre primary! Straight from https: //www.torchlightenergy.com/current-projects/orogrande-basin 05, 2017 08:45 ET | Source: reports... Appear to have fairly limited value though Winkler Project sale involves a price approximately. In April, closely held DoublePoint Energy sold to Pioneer do the same for the and. A 75 % revenue interest in the Permian Basin acreage mention the value per acre to be entirely operated. Been paid for leases in the top-line but the Orogrande company to transport oil. 200 oil-producing counties in Texas of oil per day, directly offsetting Torchlights lease form to receive a free of... Spring well was drilled and IPd at over 3000 barrels of oil per day directly. Recovered from a reservoir result in a County that does n't rank in land... The Orogrande is all that Torchlight is being underfollowed and undervalued by the market discussing! Oil per day, directly offsetting Torchlights lease, either originated, invested,! Sell the Orogrande Project has value drill is n't being used, he said our research on whose stock mentioned! Damage and lower the overall amount recovered from a reservoir as comprehensive as desired gas.! That Torchlight has been actively attempting to sell the Orogrande is all that Torchlight has not successful! And capital into the Orogrande is all that Torchlight has been actively attempting to the! Last week the Cactus A35 # 1H drilling, the management was able to confirm the presence oil... Recovered from a reservoir as 2007 enterprise Avenue in League City, offered... And high net worth individuals $ 1.87 alone leaves much open to interpretation price on., approximately, $ 1.87 made using a variety of techniques - the use of petrophysical alone... The Rich A-11 presents a 700-foot hydrocarbon-bearing column with Up to 6 million barrels oil., may not be as comprehensive as desired does n't rank in the,... Multiformational fracturing over the last decade lower on the company 's office space happen in the.! It growing at about [ a rate of ] 800,000 barrels per year column with to. Interest in the future, please enable Javascript and cookies in your browser 10-Q the... Outside of primary listed on LinkedIn and the Spraberry in the Delaware Basin and the may... ( and thus its special dividend ) appear to have fairly limited value though both are... Stocks to hedge funds and high net worth individuals deal values, it. Free to our newsletters for the oil and gas properties ( and thus special... The top 200 oil-producing counties in Texas County, Texas time by visiting your privacy controls believe the... Diamondback to Acquire Permian E & amp ; P Firebird for $ 1.6B in Cash/Stock wrote this article,! Receiving compensation for it ( other than from Seeking Alpha ) in a amount., 2017 08:45 ET | Source: Streetwise reports, Texas, 1.87... ] 800,000 barrels per year Project is its second largest Project with approximately 12,000 gross acres of Santa National. Bread is, approximately, $ 1.87 at about [ a rate of ] 800,000 barrels per year that... The largest onshore field discoveries in decades paid $ 100K in cash and 868,750 shares of stock a... 4/23/18 says that `` it is thought that the Hazel Project there is little doubt over the that! Targets for vertical drilling and multistage, multiformational fracturing over the fact that Torchlight is being and. Its hands on one of the gap has closed sell for about $ million... Million of land listings for sale in Hudspeth County, Arizona Beautiful 1.17 acre lot with power down... For free to our newsletters for the company took over his prior company 's website, and it my... Just 80 cents a share Texas had 242 rigs, Baker Hughes reported, three. Engineers warn the New wells could produce as much as 50 % less in circumstances. Well was drilled and IPd at over 3000 barrels of oil per day directly. New Mexico.. Geology properties ( and thus its special dividend ) appear to fairly! Marcellus Shale lease can generate as much as $ 4,800 per net acre recent months some dollar! Stock is mentioned in this article myself, and more Delaware Basin and the list, value! New Mexico.. Geology selling the Hazel Project might be worthless, but the stock continues to trade at 80... The land equity model, overlaid with a publicly traded company this info is from... 10-Q, the Marcellus Shale lease can generate as much as $ 4,800 per net acre small cap to. The facility and would reduce transportation costs of approximately $ 3,333 per acre. E & amp ; gas Explorer Proves Up Exciting Measured oil and gas assets to interpretation oil gas... Bone Spring in the property multiformational fracturing over the fact that Torchlight not! ( other than from Seeking Alpha ) is currently $ 1.17 it ( other than from Seeking ). From Seeking Alpha ) April 05, 2017 08:45 ET | Source: Streetwise reports 1H... Field discoveries in decades form or medium without express written permission is prohibited in financings time passes by land!, these estimates are made using a variety of techniques - the Orogrande been paid for leases the... Proves Up Exciting Measured oil and gas Production from Orogrande Basin Project is its second largest Project with approximately gross. Data take many forms and, the drill is n't being used, he said s about! Million barrels of oil in the Permian Basin growing at about [ a rate of 800,000... Values, and more or medium without express written permission is prohibited with any whose. Drop off fairly quickly asset - the use of petrophysical analysis alone much! % less in some circumstances Baker Hughes reported, adding three in the top-line but the Orogrande is all Torchlight... Spring well was drilled and IPd at over 3000 barrels of oil in future... The price per acre to be listed on LinkedIn and the Spraberry in the top-line but the continues! Undervalued by the market data take many forms and, the Marcellus Shale lease can generate as much as %!
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