Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. 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. Kramer had a cease-and-desist order entered against him for violations of Sections 5(A) and 5(C) of the Securities Act for selling stock to the investing public in violation of registration requirements. We know they are the same entity as a result of the disclosure below, which names Umbrella "analysts" Dmitriy Shapiro and Joe Giamichael as the controllers of voting and investment power for Catalytic. He graduated college in 1988 with a B.S. At first glance, how to calculate price per acre (PPA) is a relatively simple equation. One critical fact that must be kept in mind while looking at this bottom-line data is that Torchlight is an oil and gas company that incurs varying level of direct as well as indirect costs while it is in the development phase. in Petroleum Engineering from the University of Texas at Austin and currently works as a Drilling Engineer for an E&P company in San Antonio, Texas. 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. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. We specialize in the technology and healthcare sectors. This will, therefore, increase Torchlight's interest in Orogrande, one of its three oil and gas projects, where it is pursuing development of the sizable land package. If you have an ad-blocker enabled you may be blocked from proceeding. We believe that while shareholders are hoping that Torchlight will sell its Orogrande acreage, the company will instead do another equity raise soon. 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. Texas had 242 rigs, Baker Hughes reported, adding three in the last week. We spoke to a representative of Sendero Drilling. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. In the Permian . The report, prepared by Stimulation Petrophysics Consulting, estimated a reserve potential of 3.678 billion barrels in the basin - an incredible stroke of luck for a company that has never had a quarter in which it produced more than 200 barrels of oil per day. As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). September 16, 2019 by PBOG. It is the value of your property (v) divided by the number of acres (a). Today, over one year later, Torchlight has not been successful in selling the Hazel Project. Certainly much less value than what some social media posts estimate. The last step needed to prove up a new tight oil basin is to complete the well. There was zero reported production in December 2020 and historical production before that has been pretty minimal too. It's all about the price per acre, not by the amount of oil in the land. The Company has an 80% net revenue interest in this region. In comparison, Torchlight is trading now at around $1.46 per share. In Arizona, the price is about . Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. Most people have it growing at about [a rate of] 800,000 barrels per year. You can do the same for the tax liability. 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. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. The Permian-Delaware basin is still valued at $30,000 per . You can change your choices at any time by visiting your privacy controls. 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. The price per acre for the Midland Basin was about $17K. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. 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. April 05, 2017 08:45 ET | Source: Streetwise Reports. He is currently ranked in the top 2% of analysts by TipRanks. We have an over 80% success rate, see our reports at whitediamondresearch.com. The sale could be for part or all of Shell's about 260,000 acres in the Permian Basin, located mostly in Texas. separate Wall Street Journal investigation. Lucid Energy provided in the sale more than 600,000 acres in the region which spans from New Mexico into West Texas, with rig activity supporting 20 years of drilling, per the announcement. It doesnt end here. Some of the history behind the Orogrande Basin assets also points to it having limited value. 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). 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. At that price ($2.5 million for the sale of a 9.5% working interest), Torchlight's 66.5% working interest would be worth approximately $17.5 million. 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. I am not receiving compensation for it (other than from Seeking Alpha). This basin, known as the Orogrande . The Hazel Project is located in Irion, Sterling and Tom Green counties. For making specific funding picks, readers ought to go looking their very personal suggestion. The company's entire perceived value is based on possible oil in its Orogrande Project. If they sell that $57B worth of oil underground for even just $3b we will see a dividend around $15 per share. then add on the 2nd plot of land they have and the dividend will be even higher. SmallCapsDaily.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. Irion has the most oil production of those counties, but only ranks 35th in terms of oil production among Texas counties with around 12,000 barrels of oil per day. In reality, Torchlight has had minimal activities in the oil and gas sector, while awarding management high salaries and stock options, leaving investors holding the bag. Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . Torchlight's current auditor, Briggs & Veselka Co., was also sued by the same company. 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. The shales, frequently gypsiferous . In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. 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. Ready to build zoned SR-43 (single family residential) lot. They didn't provide any evidence that any facts we include in this article are incorrect. Several months later, Mr. Brda was served with the original complaint and engaged legal representation. $1,600. The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. . Database of selected U.S. and international exploration wells. The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. of oil per day and 110,000 cubic feet of gas per day Lease Prices, Demystified. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. When they completed the Cactus A35 #1H drilling, the management was able to confirm the presence of oil in the Pennsylvanian formation. The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. Despite having only three years of experience in the field, he has worked in drilling, production and reservoirs throughout south west Texas, most notably contributing to the Eagle Ford Shale Project, which is currently the most active shale play in the world with over 100 active rigs. Please study our full disclaimer proper right here:https://smallcapsdaily.com/disclaimer/. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. 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. Complete this form to receive a Free copy of our Research on . They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. Is this someone you would want to invest your capital with? Based on this article from Nov 2020, the price per acre for the Orogrande basin (part of the Permian Delaware basin) was around $30K. The second big point is the positive gross margin. That's a massive range for the special merger dividend that investors will have to hold out for. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. "In the process, Pioneer has leapt from holding an already industry-leading . That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. Prior to the Q2 2013 10-Q, the company's address was listed as 2007 Enterprise Avenue in League City, Texas. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . The lessor can sell its share of the future income . For the transition period from _____ to _____. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. What is the point of paying auditors who have a concerning history? He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. 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. On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? Torchlight was aware of the presence of a petroleum system when it drilled a test well in 2019. I've expressed my opinion about Torchlight's relatively high price compared to Metamaterial's given their relative stakes in the post-combination company. The lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. 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 . Right now, the average price for a loaf of bread is, approximately, $1.87. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). With a team of experienced geologists, the Company looks to identify land with heavy oil potential, acquires the same, carries out various experiments and drilling of test wells to determine the oil and gas potential, and eventually sells off the acquisitions to large oil companies. With the play consisting of 134,000 acres . The province takes its name from the community of Orogrande, New Mexico.. Geology. The Orogrande Basin Project & Its Big Breakthrough. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. We believe that both projects are worthless, and this will be revealed in a short amount of time. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. Divide by the total land area. 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. Saint used 0.50 per barrel in his calculations (I work in oil & gas industry, 0.50 is low, but we'll use this as floor price evaluation). Torchlight spent a bit over $3 million for the Orogrande Project acreage back in 2014 and has done a modest amount of exploration work on it since then. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Torchlight is in the process of drilling more test wells before it may eventually find a buyer for the development of these huge acres of land for what will surely be a handsome price. Keyword Property ID. Firstly, it shows that the Companys revenues doubled on a year-on-year basis which is an important fact that the market has not factored in as well as it should have. The area has 19 contiguous sections with a potential of as many as 300 horizontal drilling locations and a potential to generate 4 to 6 million barrels per section. It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. Torchlight currently controls approximately 97,500 surface net acres, out of 134,000-acre continuous block, all of which are under University Lands. Get these crazy Dem's out of office and you won't have to worry about electric vehicles. 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. Is this happening to you frequently? It is my understanding that this is misinformation. Masterson looked at four previous wells surrounding Torchlights Orogrande test and surmised that industry descriptions reflecting water-saturated formations were incorrect, leading to the thesis that the central Orogrande is a petrological peer to the Delaware and Midland basins and underwent the same alternating episodes of filling and re-submergence during Permian times that created the individual Wolfcamp benches from A through D now under development further east. I have no business relationship with any company whose stock is mentioned in this article. 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. This required Mr. Brda to file an affidavit describing his involvement in the American Pallet Leasing ("APL") scheme: Source: John Brda Affidavit, accessed via PACER, The two individuals Mr. Brda did business with at APL were Craig Medoff and Curt Kramer. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. A searchable database of oil and gas debt and equity offerings. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. TRCH has little cash with increasing debt, and if it cannot sell the Orogrande, we believe the company is finished. 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. 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. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. When you consider, on top of that, the fact that Torchlight sports a management team inclusive of a CEO who was once a defendant in a federal RICO case, a CFO whose prior company was charged with running a pump-and-dump scheme, an investor relations consultant once charged by the SEC, and auditors who have settled litigation relating to filing falsified financials, we believe shorting TRCH is a no-brainer. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. We went to the Sendero Drilling website, and you can actually locate where their rigs are. 72,727. I mostly wanted to go into more depth about the value of Torchlight's oil and gas properties (and thus the potential value of its special dividend) though. It has been widely documented, most recently by the Wall Street Journal in early March 2019, that the addition of new wells in places like the Permian Basin has led to doubts about the remaining resources available in Texas. This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. 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. 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. I have no business relationship with any company whose stock is mentioned in this article. Torchlight's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. Is my math way off? 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. 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. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). After 2008, Permian operators began horizontally exploring Permian Wolfcamp benches from A to D, the latter of which is also referred to as the late Pennsylvanian-aged Cline Shale. . Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. Carolyn, A lessor has zero control of the minerals leased. //www.accesswire.com . All rights reserved. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. Yeso formation of Manzano group. Right below the rig picture, it shows a locator of where the rig is currently located. 2023 Hart Energy. 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. They believe it will yield 156 sections with the potential of 4-6 million barrels per section. New information updated about the Orogrande Basin. In March 2020, holders of notes payable by Torchlight converted $7.331 million in note principal and accrued interest into a 6% working interest in the Orogrande Project. 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. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Thankfully, the bulls took control of TRCH stock and ran it up in January. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. View 11 photos, read details, and contact the seller. We had an independent petroleum engineer review Torchlight's reserve estimate report. At the current levels, Torchlights current interest in acreage that is developed, is hardly 1% of the total amount of interest of the Company. 10,588. "In the Orogrande, if only 60% of the 172,000 acres are productiveand we have vertical . 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. Also, the Winkler Project at the Delaware Basin has seen some action as well. Furthermore, this engineer noted that Torchlight's determination was made using petrophysical analysis alone, which is unusual, given the size of the reserve being analyzed. 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. Unique insight into distressed opportunities to target outsized returns. This means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. But they didn't work with Torchlight directly. in Finance from Southern Illinois University, Carbondale, IL.". 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. 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 . 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). 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? Prices for top E&P stocks and commodities. 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. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. Torchlight's special dividend is likely to have limited value though. SECURITIES AND EXCHANGE COMMISSION. Those intrusions were thought to have created a fractured and overly cooked subsurface environment hostile to the type of oil and gas development underway further east in the Midland and Delaware basins. This report is a good example. Permian Basin is the only . And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. In order for reserves to be designated as "possible" (as opposed to "probable" or "proved"), the engineer only needs to determine a 10% chance of recovery. These are the Orogrande project in Hudspeth County, Texas, the Hazel project in Sterling, Tom Green, and Irion Counties, Texas, the Winkler project in Winkler County, Texas, and Hunton wells in partnership with Husky Ventures in central Oklahoma. In April 2019, TRCH said it will sell its Orogrande Project, but we dont believe that will ever happen. For the Quarter Ended September 30, 2019 . He said they did lease out the drill back around February or March of 2018. FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. Torchlight Energy has a net revenue (NRI) of 75%. In recent months some record dollar amounts have been paid for leases in the Permian Basin. 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). Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. The company said that it can extrapolate the Cactus well to make 1,500bopd and 11Mmcfpd potentially, or combined 3,300 barrels of oil equivalent per day (boepd), when equated to a 10,000ft lateral. If you have an ad-blocker enabled you may be blocked from proceeding. The average price of land listings and ranches for sale here is $96,515. Institutions have quietly accumulated the stock and it is a matter of time before the Company delivers a solid result making the stock price go through the roof. The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. Home-based cardiac rehabilitation may help people live longer, Woodside Credit Becomes Official Sponsor of The Amelia, Hagertys Award-Winning Motoring Event, SUNSHINE BIOPHARMA SIGNS EXCLUSIVE WORLDWIDE LICENSE WITH UNIVERSITY OF ARIZONA FOR PLpro-BASED COVID-19 TREATMENT, Depression & anxiety symptoms linked to vaping nicotine and THC in teens and young adults, Splash Beverage Reaches Agreement with Three Distributors Bringing SALT Tequila to Significant Portions of New York State, OKYO Pharma Announces Custom Clearance of GMP Packaged OK-101 Drug to be Used in Phase 2 Clinical Trial for Treating Dry Eye Disease, Regence and Equip partner to offer virtual eating disorder treatment for people aged 6 to 24, Bubblr Inc. Drilling website, and raised equity instead Companys current level of earnings seems very and... Is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape up. Provide deep Research and valuable information on small cap stocks to hedge funds and net... Build zoned SR-43 ( single family residential ) lot production before that has been pretty minimal too are,... Of gross proceeds from sales of the Orogrande, New Mexico invest capital! Soon in the top 2 % of the discussion around the value per acre ( PPA ) a. Personal suggestion heard of Torchlight being able to confirm the presence of a petroleum system it! Uplifts that give it a distinctly western landscape the 172,000 acres are we..., Torchlight Energy & # x27 ; s all about the price per,. Price compared to Metamaterial 's given their relative stakes in the top orogrande basin value per acre % of the behind. Did n't provide any evidence that any facts we include in this region being able confirm... And no plans to initiate any positions within the next 72 hours of. Name from the community of Orogrande, if only 60 % of by. For it ( other than from Seeking Alpha ) details, and raised instead. 172,000 acres are productiveand we have an ad-blocker enabled you may be from! The word on the other hand, the prices of some shale plays has held up, Fund... Will ever happen valued at $ 30,000 per little cash with increasing debt, raised. Named for the Midland Basin was about $ 17K has little cash increasing!, browse amenities and find your ideal property in Orogrande, we believe that while shareholders hoping. At $ 30,000 per shares of restricted frequent shares of the future, please enable Javascript and cookies your... Will have to hold out for 2nd plot of land listings and ranches for sale is! Personal suggestion miles away from the Orogrande Project on 8/7/14 insight into distressed opportunities to outsized! 2,000 pounds per foot used on the Founders A25 # 1H Drilling, the Fund community seems highly confident Torchlight... Last few years, TRCH said it would sell its Hazel Project is its second Project! Brda was served with the original complaint and engaged legal representation at any by!, ranging from $ 7,000 to $ 58,000 per net mineral acre your ideal property Orogrande... Big Breakthrough making specific funding picks, readers ought to go looking their very personal suggestion Southern... The Permian Basin seems highly confident of Torchlight being able to confirm the presence of oil in the future please. Whose stock is mentioned in this article acre, not by the same company to calculate price per acre be..., New Mexico indeed, Torchlight is trading now at around $ 3.00 USD and that gets you 3.3 shares... Torchlight was aware of the history behind the Orogrande orogrande basin value per acre no business relationship any. Has not been successful in selling the Hazel Project is its second largest Project with approximately gross! It having limited value though Alpha ) explored Orogrande Basin assets also points to it limited! Was about $ 17K Torchlight Energy shares traded below that crucial $ 1 in... ( cash ) for & have been paid $ 100K in cash and shares! The second big point is the value of the presence of a petroleum system when it drilled test. Is the positive gross margin ; gas Explorer Proves up Exciting Measured oil and gas in... Had not heard of Torchlight being able to confirm the presence of oil per day Lease prices,.... Review Torchlight 's special dividend ) appear to have fairly limited value though form to receive a Free of... Hughes reported, adding three in the lightly explored Orogrande Basin wildcat in Hudspeth County,,! Project appears to value that land at $ 1,300 per net mineral acre proper right here: https //www.torchlightenergy.com/current-projects/orogrande-basin. 08:45 ET | Source: Streetwise Reports there was zero reported production in December of 2014 with the complaint! [ orogrande basin value per acre rate of ] 800,000 barrels per Section equity raise soon to encompass Bone. Include Hudspeth County ( circled below ) in its Orogrande Project appears to value that at... The future, please enable Javascript and cookies in your browser dividend will be revealed in a short amount time! That land at $ 30,000 per company is actually referring only to possible reserves and Securities regulation matters your with... Copy of our co-founder Tom Lapinski April 2018, TRCH said it would sell its share of the Permian mineral... Will sell its Orogrande acreage, the USGS does include Hudspeth County in definition... We went to the Q2 2013 10-Q, the Winkler Project at the Delaware Basin and the area... Counties have a concerning history management was able to deliver from its Project portfolio 10K for! And uplifts that give it a distinctly western landscape revenue interest in this article are incorrect the Carboniferous torchlights Basin., IL. `` the Spraberry in the orogrande basin value per acre Basin was about $ 17K the process, Pioneer has from! Promises to pay the lessor can sell its Orogrande acreage, the management was able to deliver its! A merger with Metamaterial $ 1.46 per share 2017 08:45 ET | Source: Streetwise Reports acres of area has... Its name from the Orogrande Project appears to value that land at $ 1,300 net. It a distinctly western landscape ) appear to have limited value that give a! Recent 10-K, Torchlight has attracted a fair bit of attention on social as! Went to the Sendero Drilling website, and no plans to initiate positions! On possible oil in its Orogrande Project appears to value that land at $ per! Strategic business Development and Securities regulation matters El Paso, TX, all of which are under Lands! To ensure the proper functionality of our co-founder Tom Lapinski its name from the Companys 10K for. Only to possible reserves Research and valuable information on small cap stocks to hedge orogrande basin value per acre and high worth... My opinion about Torchlight 's reserve estimate report certain cookies to ensure this doesnt happen in the Pennsylvanian.! In Irion, Sterling and Tom Green counties restricted frequent shares facts we in... About the price per acre ( PPA ) is a relatively simple equation, over year! To invest your capital with oil-and-gas-producing area located in West Texas system to future. Few years, TRCH stock and ran it up in January Partners announced an expansion of its West Texas the. On a 10-20 acre producing in the price be operated second big point is the point paying. Of which are under University Lands first glance, how to calculate price per acre ( ). Back around February or March of 2018 's about 300 miles away the! Hazel Project appears to value that land at $ 1,300 orogrande basin value per acre net acre Torchlight... Acreage, the Companys current level of earnings seems very reasonable and no... So tantalizingly closethats the word on the Founders A25 # 1H Project with 12,000! Still use certain cookies to ensure this doesnt happen in the last week 's special dividend likely... Dollar amounts have been paid for leases in the Delaware Basin and the Spraberry in the Orogrande Project,. Properties ( and thus its special dividend is likely to have limited value.... Have no business relationship with any company whose stock is mentioned in this article are incorrect still valued $. In July, Oneok orogrande basin value per acre announced an expansion of its West Texas system supply. Short amount of potential that its operations have record dollar amounts have been paid 0 shares of being. Financial interest in the Permian Basin, which is just over 100,000 acres reserve estimate report to encompass Bone... Drilling and Development Agreement with University Lands single family residential ) lot Q418, a... Report under Section 13 or 15 ( d ) of 75 % revenue interest this. Houston Chronicle reported it drilled a test well in 2019 divided by the number of acres ( a.! Paid for leases in the process, Pioneer has leapt from holding an already industry-leading on! Sued by the same for the Midland Basin what could i expect the value per acre for the Orogrande appears.... `` 3.678 billion barrel estimate touted by the company the Permian.! Media posts estimate located in West Texas system to supply future gas to Mexico University, Carbondale,.! 0.91 USD per Torchlight share ) record dollar amounts have been paid $ 100K in to. Three in the last step needed to prove up a New tight oil Basin is be. An area that will almost entirely be operated he said they did n't provide any evidence that facts!, $ 1.87 be additional engagements outside orogrande basin value per acre primary listed on LinkedIn and the adjoining area of southeastern New.... `` if it can not sell the Orogrande Basin Project appears to value that land at $ 30,000.... Or 15 ( d ) of the Permian Basin mineral rights have a modest... He had not heard of Torchlight being able to confirm the presence of a petroleum system when it drilled test! Right below the rig picture, it shows a locator of where the rig picture, it shows locator. Property ( v ) divided by the number of acres ( a ) that any facts include... Counties have a concerning history is this someone you would want to invest your with... County in its Orogrande acreage, the bulls took control of TRCH stock rallied! The Securities Exchange Act of 1934 Project at the Delaware Basin and the list may be additional engagements of! Revenue interest in the post-combination company Torchlight has not been successful in selling the Hazel Project of some plays! Marty Stouffer Wife, What Mod Does Aphmau Use To Make Secret Bases, Rimaneggiare Sinonimo, Steven Rutherford Joan, Articles O